Money is tight for a lot of people and I dont ask for more money but to better manage what I have, I have no debts and I pay my bills every time they come in. THe only thing it sometimes I am overdreawn in my checking account at times. I do ave overdraft this year has been an expensive year for me plus I had some unexpected bills come up.
What are good practical and prudent ways for me to manage my money better?
2006-12-05 00:26:51 · 6 answers · asked by encourager4God 5 in Business & Finance ➔ Personal Finance
First figure out where your money is going. If you try to recreate your bills for a month you will come up with gaps. After you know where your money is going you can figure how to trim expenses.
2006-12-05 00:31:17 · answer #1 · answered by shadouse 6 · 0⤊ 0⤋
Don't forget rule #1 in bill paying and money management:
PAY YOURSELF FIRST ! Always, every week - something must be saved or you will never move forward. Try 10% or even 5%, you may be surprised how much it doesn't adversely affect your other finances. When you have enough saved, buy a Certificate of Deposit or open a money market account. Don't leave it in a checking or savings account - it's too easy and tempting to get at.
2006-12-05 01:51:55 · answer #2 · answered by Lorenzo Steed 7 · 0⤊ 0⤋
I agree with Robert W-
Visit www.daveramsey.com he is a Christian financial counselor. Using his program you may find where you are "loosing" money. Currently he is having a sale on his Financial Peace University (FPU) kit. My husband & I took the class and it was GREAT! We don't fight about money now. Also his plan is easy to understand and no tricks. As he said... "I sell crockpot financial advice in a microwave world."
On his website you can find a FPU class near you and his books. He is on the radio and you can find a station near you to listen to his practical advice. Also on his site are easy to use budget forms, etc.
2006-12-05 03:08:43 · answer #3 · answered by mldjay 5 · 0⤊ 0⤋
I saved a lot of money this way, enough to put a deposit on a house by keeping monthly records.
Net income less expenses , less savings, = cash on hand.
2006-12-05 01:20:41 · answer #4 · answered by chp 2 · 0⤊ 0⤋
i agree with shadouse answer, if u sit down and monitor them u will find out that its either , eating out or clothes on an occasion its groceries. Ive done it go shopping when u are hungry and get things because u are craving them and before u know it Ive spent 100.00 and you don't have anything to last a week to eat. his answer works, use coupons when u shop believe me they work
2006-12-05 00:40:36 · answer #5 · answered by bottoms 1 · 0⤊ 0⤋
visit daveramsey to learn the things you haven't and the things bankers pray you never learn.
2006-12-05 01:28:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋