Money doesn’t grow on trees. Unfortunately, the majority of us struggle with the dichotomy of striving for the life we want vs. the life we have. Your finances may have you feeling stuck in a never-ending chasm of bills and paycheck-to-paycheck living. It doesn’t have to be that way. Improving your current situation is the first step to solidifying long-term security. Keep your money in check by following the tips below. Who says you can’t have the life you want?
- Create a budget. Newsflash: No one cares about your money except you. True, your creditors and landlord may care after a few late payments, but the responsibility of maintaining financial health rests on your shoulders alone. Stop avoiding the facts by creating a budget to help determine where you stand. How much money do you earn each month? How much do you spend on necessary expenses, entertainment, etc.? The answers lie in a well-made budget. You wouldn’t travel to a new place without a map, and navigating the world of personal finance is no exception.
- Sign up for Mint.com. Speaking of maps, why not take advantage of the tools available to you? Mint.com is an effective way to track your spending and adopt a new way of living. Upload your bill payments and receive reminders before each one is due. Set limits for yourself when it comes to discretionary spending. If you have a luxurious month, Mint will notify you when overspending occurs. Let the web help you get back on track. Use Mint to establish parameters.
- Shop with coupons. “I will never pay full price again.” Repeat this phrase and make it your mantra. Carelessness leads to overspending. Place a higher premium on your hard-earned cash by practicing discernment at the check-out counter. Yes, the cost of gasoline and food may be out of your control, but there is certainly more than one business in town. Look around to find the best deals on everyday expenses. Clip coupons before venturing out on a shopping trip. Small savings add up fast, especially if your new habit becomes a way of life. Why spend more if you don’t have to?
- Go green. Environmental living may sound like a crunchy, new-age idea, but there are plenty of ways to save cash without dramatically altering your lifestyle. Practice awareness by cutting back your shower time. Switch to low-watt light bulbs and turn down the heat when you leave the house. Save on gas by purchasing a more efficient car or signing up for a carpool group. All of these work to save money and help the environment at the same time. It’s a win-win.
- Make saving a priority. “I can’t afford to save money!” This sentence may be swirling in your head. Or, “I save plenty; I don’t need to save any more.” Whatever your situation, a few facts remain: you can’t afford not to save money, and there’s always room for more. If your goal is a comfortable life with little worry, savings are the key to the proverbial castle. A well-funded bank account opens doors in the realms of credit repair, buying power, financing, lifestyle changes, etc. etc. The list is filled with endless possibilities. Saving may not be fun, but your life will never change without action. Why keep your goals on the backburner? Make the tough decisions today and plan for an easier future.