Dont Be Money Ignorant

Dont Be Money Ignorant

Dont be Money Ignorant
There are some simple things that you have to​ know how to​ do .​

But it​ seems like no one ever sits down and​ teaches you .​

Balancing your checkbook,​ making wise financial decisions and​ handling debt are vital to​ your financial health.
I guess its something that we​ make our mistakes and​ learn from .​

But today,​ the​ mistakes are costlier than ever .​

With credit cards targeting college students and​ debt problems affecting millions of​ consumers,​ every person should take the​ time to​ make sure that they and​ their children know how to​ manage their finances.
Have you ever stressed about money? I​ ​ wont say that proper management will eliminate money stress,​ but it​ will certainly cut it​ back by around 90% .​

if ​ youve ever spent hours fretting over where you will get the​ money to​ pay for bills or​ gas or​ whatever,​ you will truly appreciate the​ freedom proper financial management brings.
And the​ thing is,​ it​ is​ so simple .​

The first things you should know are how to​ balance your checkbook,​ what interest rates are and​ how you pay off loans and​ save for retirement .​

Do research before you buy a​ car or​ take out a​ loan.
After youve done a​ little homework,​ you can start understanding your own finances .​

Start with your bills .​

You need to​ not only know how to​ read them and​ pay them,​ but also what they mean to​ you financially .​

Make a​ list of​ your current financial responsibilities what you owe,​ who you owe and​ your interest and​ payment amounts .​

Add to​ this list all of​ your expected financial liabilites,​ such as​ increases in​ insurance premiums or​ a​ new home purchase .​

Add in​ your daily expenses,​ such as​ food and​ gas money.
Youve now completed the​ first step in​ your own personal family budget .​

This will be your blueprint of​ how you will spend and​ save .​

Add up all of​ your monthly income .​

Subtract your expenses you have listed from your income .​

The results should be a​ positive number .​

if ​ it​ isnt,​ you are spending more than you make .​

You need to​ find places to​ cut back so that you dont fall further and​ further behind.
Many children believe that credit cards are a​ magic way to​ get what they want .​

They will buy everything .​

Adults should know better .​

Credit cards need to​ be paid off .​

This is​ your top priority you have to​ get out of​ debt .​

Dont charge anything that you cant pay back at​ ​ the​ end of​ the​ month .​

if ​ you cant resist the​ card,​ put it​ in​ your safety deposit box .​

You wont use it​ on​ impulse if​ ​ it​ is​ hard to​ get to.

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