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TAKING CONTROL OF YOUR FINANCES SO THAT YOU CAN START
SAVING
After all your bills are paid and your check book is
balanced,
do you find yourself with little or no money to put
towards savings every month? Have you given up on
developing saving for your financial future? Don't
despair! Below are some helpful tips that will help you
manage your debt and money so that you can put away some
savings every month! Taking the
seven day money challenge will also help you
determine areas of your spending that need to be
altered.
It is the little things that add up!
Financial security can be achieved even on a moderate
income. Its all about being a wise spender. An important
point to remember is that all of the little things add
up.
Monthly expenses like rent,
mortgages,
car loans, or
student loans are fixed. The variable expenditures
are what can really get out of control. For example,
buying low cost items like CDs, books, etc.; and doing
things like buying lunch and breakfast everyday seem
innocent because they do not cost much. However, if you
buying lunch every day for $10, will cost you around
$3000/annually. Do the same math with other items you by
on daily or regularly.
You can save!
You may need to 'find' money in order to save.
Meaning, you can make your own lunch every day instead of
buying, allowing you to save $10. You can take the extra
$50/week and invest the money into your 401(k) or open an
IRA. This money will start to add up fairly quickly! Read
some information on
money saving techniques.
Its all about control! BUDGET!
You still need to live life. Do not eliminate every
expense that results in your enjoyment, i.e. going out
for dinner or the movies. Below are some tips that can
help you control your finances.
Learn more about budgeting.
-- Track every penny you spend. This will allow
you to see exactly how much you are spending on a
week-to-week basis. You will also see how all of the
small ticket items you buy add up to big costs.
-- Don't use credit cards, pay with cash only! This will help eliminate
buying on impulse.
-- When looking to buy large ticket items that
cost more than $100, wait a few days before you make your
purchase. You may decide during this time that you really
do not need or want the item.
Finance Tidbit:
Applying for used auto loans is one of the best means of
re-establishing your credit, or establishing a positive
credit history.
Build credit with a used car loan today!
Information on how to save money!
Related Reading:
Making Bad Credit Worse
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