Handling Your Money Effectively


Handling Your Money Effectively 1

Handling Your Money Effectively
There is​ inflation every year .​
You cannot stop an​ increasing in​ living expenses as​ prices of​ consumer goods increasing all the​ time .​
Saving money becomes an​ extremely difficult task to​ do .​
Here are some solutions for saving a​ little so that you can still meet your needs and still find ways to​ trim off a​ little for the​ future .​
1 .​
Budget – Get one and stick with it! And set aside at​ least a​ small portion for savings while you’re at​ it; savings for your future,​ your retirement,​ your education,​ your vacation,​ whatever .​
Head to​ your local office supply store for planning workbooks or​ budget sheets to​ use .​
Or head to​ your favorite search engine and type in,​ budget planning for hundreds of​ sites with articles,​ free downloads,​ tips,​ ebooks and other resources to​ help with your budget setup and follow up .​
2 .​
Plan Ahead – Make sure to​ plan for emergencies and the​ unexpected,​ like an​ appliance break down or​ garage door malfunction .​
Even if​ you can only set aside $50 or​ so each monthly,​ place it​ in​ an​ account and earmark it​ for this Miscellaneous fund .​
Then when things go wrong,​ and they will – nothing’s perfect – you’ll be better prepared .​
3 .​
Non Monthly Items - Work out a​ monthly payment for items that you don’t pay monthly and set this up in​ your regular monthly budget .​
For example,​ for items like annual home owner or​ renter insurance,​ quarterly water bills and automobile insurance payments and annual trash bills,​ take the​ amounts and determine what they would be monthly .​
Then list the​ items on​ your budget log and pull these amounts aside,​ saving them in​ your account for those purposes .​
This way,​ when the​ bills hit,​ you won’t be caught off guard and have to​ scrounge for the​ payments .​
What works well,​ instead of​ handling multiple savings accounts for each company owed,​ is​ to​ use index cards and one savings account .​
Create one index card for each bill .​
Then simply log the​ amount you’re setting aside on​ the​ card and deposit it​ into your savings account .​
Keep the​ index cards with your savings passbook to​ remind you what the​ balance covers .​
The total of​ all your index cards should equal the​ balance in​ your savings account .​
(Make sure to​ create an​ index card for your regular funds that you are saving each month in​ step one above and a​ card for your Miscellaneous fund in​ step two above) .​
So next time you get paid,​ take three giant steps forward .​
Grab your index cards,​ follow your budget and invest in​ yourself and your future .​
Get a​ grip on​ your money handling.



Handling Your Money Effectively



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