Money Management?

Question

Who can give some advice on how to manage money? Pay your Bills, and at the same time be able to save money for a specific goal?

Answer 1

You can divide your income into 3 parts:

1. For expenses

2. Emergency

3. Savings

Buy only what you really need now or this week. Avoid buying something that you will only need next month of you don't know when you will use it.

People can have many things that you don't have. You don't have to follow them. Buy only what you need because you may noy be able to afford all that you want in life. Eg. luxurious car, luxurious house and other luxuries.

I also remind myself that I won't die because I live in a small house. I won't die if I'm driving a small car or do't drive at all. I need a $3 shirt to cover my top and a $10 pants to cover my bottom. I don't need a $30 shirt or a $100 pants...etc

Hope this helps. Next is to look for a 2nd income that don't require much investment and can make you money 24/7.

Have you heard of Google Adsense program? You can make some legitimate money if you have a blog at Blogger.com of a free website like Google pages which will allow you to publish Google Adsense. http://tashi.web.design.googlepages.com/website-sponsor

Answer 2

The best way to handle money is to have a good money management system that helps you save as well as have the money you need to take care of the things you want and need. A system that allows you to have a balance. Truth is if you spend all your money your need to save will be deprived and if save all your money your need to spend will be out of the loop... I've found a simple system that works for any income and is simple, its allows you to play, spend and save a Fortune at the same time.... I also implement ways that help me spend less and save more. The system is bellow, you just portion your income as shown and use the money in the respected areas.

1. Financial Freedom ACCOUNT or retirement account (10%)
2. Long Term Savings for Spending or emergency account (10%)
3. Education (10%)
4. Play (10%)
5. Give (5%)
6. Necessities ( 55%)

If you like you can See the full article @ http://www.profitandpossibilities.com/?p=187

Sincerely
Raymona Brown
Good luck

Answer 3

yes, always pay your bills. Also it's smart not to spend what you don't have. If you want to buy something like a new pair of pants or whatever, ask yourself, do I really need this? and if I buy this now, will I be in a financial bind later on? I always do this. Just the other day, I wanted to buy a new sweatshirt, but after I thought through my budget, I wouldn't be able to pay some of my upcoming bills if i did buy it. Of course, I live paycheck to paycheck right now. Basically, make a budget every month or however often you think you need one. I make one every two weeks b/c i get paid every two weeks. It helps me to make a budget. Hope this helps!

Answer 4

budget....take how much you make VS how much you have to spend and plan in your budget a "dream fun" saving for your specific goal!