As an ordinary person who comes from a family of numbers people – accountants, math professors and bank presidents – I’m a mom working three part-time jobs. But I’ve become a successful money person with no debt and a workable budget. My secrets to money management?
- Don’t spend more than you have. Credit cards make it easy to spend more money. Then it comes to pay, and we can’t even remember what we bought.
- Pay your bills, spend a little on something special and save the rest. Savings can quickly add up for that emergency.
- Pay everything immediately. Don’t let interest build by paying the minimum on a credit card or loan.
- When we have little money left, we feel we “deserve” something extra. Do something free! Visit a place with no entrance fee or take a hot spa-like bath. Join a friend for coffee and conversation.
- We live in an age where we all accumulate things – kids have lots of toys, we have closets of clothes we don’t wear, and our house has furniture and items we don’t even use. Start to live with necessities rather than unneeded extras. If you don’t need it, don’t buy it. And garage sales can be a great way to find new things at a low price.
How do you budget your money?
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