Budgeting

Posted February 3rd, 2010 by Kent and filed in Money Saving Tips
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Budgeting people telling tr money instead ag we went.

-John C. Maxwell


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10 Habits to Develop for Financial Stability and Success

Posted June 8th, 2009 by Kent and filed in Debt
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favorite sites zenhabbits and Leo Babauta shares gt financial tips. gg republish articles here. called:

10 Habits Develop Financial Stability Success

Just le goal, getting yr finances stable financially successful requires development financial habits. I’ve researching ts topic extensively ys quest eliminate debt, increase savings increase financial security family. I’ll talk habits individually, list tm summary (I know, I’m compulsive list-maker).

Here ty are, particular order:

  1. Make savings automagical. Ts sd priority, especially don’t he solid emergency fund yet. ft bl pay eh payday, hg set at automatically transferred fm checking account yr savings (try anon websavings account). Don’t consider ts transaction — jt se happens, ey payday.
  2. Control impulse spending. biggest us. Impulse spending, eating shopping andon internet purchases, huge drain finances, biggest budget breaker many, se dire financial straits. See Monitor Your Impulse Spending me tips.
  3. Evaluate expenses, live frugally. you’ve nr tracked yr expenses, try theOne Month Challenge. evaluate you’re spending yr money, cut reduce. Decide expense iscompletely necessary, then eliminate the unnecessary. See How I Save Money more. read 30 ways to save $1 a day.
  4. Invest yr future. you’re young, probably don’t consider retirement much. it’s important. as plan retirement later, now. growth yr investments time wl astounding youbegin yr 20s. Start increasing 401(k) maximum company’s match, that’s available you. that, ideal bet probably Roth IRA. aTiny research, do, startnow!
  5. Keep family secure. step save emergency fund, happens, you’ve money. he spouse and/or dependents, sd definitely life insurance wl — soon possible! Ao research insurance, homeowner’s renter’s insurance.
  6. Eliminate avoid debt. you’ve credit cards, personal loans, sh debt, tobegin debt elimination plan. List debts arrange tm or fm st balance largest bottom. focus debt top, putting it, it’s $40-50 extra (more better). tt at paid off, celebrate! te total paying (say $70 minimum payment plus $50 extra total $120) add minimum payment nt largest debt. Continue process, wh extra snowballing along, ul pay yr debts. years, it’s vy rewarding process, necessary.
  7. Use envelope system. simple sm kp track mh money you’ve spending. Let’s set aside amounts budget eh payday — gas, groceries, eating out. Withdraw te amounts payday, separate envelopes. Tt way, easily track mh you’ve left eh expenses, run money, immediately. don’t overspend te categories. regularly run fast, nd rethink budget.
  8. Pay bills immediately, automagically. habit pay bills soon in. Also, possible, try bills paid th automatic deduction. te can’t, bank’son internet check me regular automatic payments. way, regular expenses yr budget care of.
  9. Read personal finances. educate yourself, betteryour finances wl be.
  10. Look grow net worth. wr improve net worth, er reducing yr debt, increasing savings, increasing income, above. Look me money, paid do. course months, calculate yr net worth month, you’ll grow. feels great.
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