Simpler Solutions For Managing Your Money

Simpler Solutions For Managing Your Money

Simpler Solutions For Managing Your Money
Let’s face it,​ coming up with smart and simple ways of​ saving money takes thinking that is​ a​ bit more creative .​
Use some of​ these shortcuts to​ managing your finances .​
They are guaranteed to​ save you time and money.
Trick your mind into saving
Can’t always come up with where your money goes? There is​ a​ simple solution: Trick your own mind into spending less and saving more.
If you are up for a​ challenge,​ allocate yourself a​ weekly allowance .​
Put a​ set amount of​ allowance into an​ envelope and determine that this will be all you will be allowed to​ spend for any given week .​
Next,​ divide your allowance to​ take care of​ your expenses .​
When you get down to​ the​ last $20,​ that’s the​ amount you put into your emergency fund .​
When the​ money is​ gone,​ there will be no more until next week.
Each payday,​ allocate a​ percentage to​ go into a​ secret fund used only for emergencies .​
When it’s crunch time,​ you will know it’s there.
Establish one dresser drawer just to​ toss single dollar bills .​
This way when the​ pizza man arrives,​ you will have the​ singles handy and won’t need to​ break the​ larger dollar amounts .​
This discipline forces your mind to​ think larger amounts and to​ save larger amounts .​
You get into the​ habit of​ spending only the​ singles .​
This works!
To control your credit card debt,​ carry just one card and pay it​ off each month .​
If you are tempted to​ over spend,​ the​ credit card goes into the​ safe where you only stash your emergency fund .​
When crunch day comes you have a​ credit card you can use that will always be in​ good standing.
Jot down expenses in​ a​ notebook and tally them at​ the​ end of​ each week to​ see if​ you are over or​ under your budget estimates .​
Build in​ more than you need so that you will always have a​ cushion in​ case of​ a​ cash emergency .​
Tracking your spending takes some work but if​ you take careful notes,​ you will always be able to​ see one or​ two areas where you’re leaking cash .​
You can then come up with an​ extra $20 or​ more per week in​ savings .​
That’s $1,​000 a​ year in​ real money for an​ emergency fund.
More tricks to​ add to​ your own savings routine: Have your paycheck automatically deposited directly to​ savings rather than to​ your checking account .​
You will transfer money to​ pay your bills,​ but you’ll think twice about withdrawing additional cash.
Make ONLY one ATM withdrawal each week .​
Subtract your credit card purchases immediately from your checking account so you’re not surprised once the​ bill arrives.
When you pay off a​ loan,​ add the​ amount to​ payments you’re already making to​ the​ next lender on​ your list .​
You can also send the​ money to​ a​ saving or​ investment account earmarked for a​ house,​ a​ vacation or​ a​ new car and this money will be made available in​ case of​ a​ money emergency.

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