Aus Bildungsstreik 2009
I've talked to individuals who like to ask me what good quality quick tips are for managing your money to begin with. First of all there aren't any 'quick' ideas to finance, financial management is really a serious business that is a 'lifestyle' change which should be a habit that positively affects all aspects of your life. There are certain steps that you could take right now to begin a lifelong path of financial harmony in your lifetime for years to come.
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Very first thing to begin doing is stop using charge cards. I know this sounds simple and a no brainier but exactly how often are we been out and saw something we wished to purchase but did not have the money on us or the profit the bank in those days but we tell ourselves it's OK to put this on my small credit card because I will pay just it off when I get my next paycheck. I recommend this theory is just effective 1% of the time. This practice is harmful to your finances because think of what scenarios could arise between the times you charge this item to credit and actually receive your paycheck. You could have random automobile troubles that need immediate attention and that i guarantee the mechanics will require payment for his or her services at the time they are rendered. Let's say you become ill and need to charge certain medical items and prescriptions or visits to the doctor for your charge card, and of course probably the most dreaded thing can occur from using your credit cards before you receive money.... you create a habit of this and continually charge what to your card and before very long one item becomes six or ten by the time you receive paid, this possibly consumes your whole paycheck by this time. Just how will you pay the car note and bills and rent or mortgage? This first step in credit debt elimination for your personal finances would be to stop using your credit cards, however this is more than the actual physical act of refraining from charging what to credit, I am also talking about this task like a mental change. You need to first develop a mental attitude that credit is really a sort of evil, as far as every day expenses are concerned, and mentally create a switch to need a credit debt free lifestyle. Also understand that even though you purchase just one $5.00 item before your next paycheck, you're still considered $5.00 more in debt. When you come to actually know this idea then you can get ready to avoid the temptations of charging simple daily what to charge cards.
The second tip for personal financial management is after you have developed the no charge card attitude and started to actually stop using charge cards for random nonsense expenses, nonsense here meaning not really a necessity, develop a intend to begin a separate savings account having a starting objective of $1,000 inside it. This tip does not mean to ignore other expenses and put the savings first, of course you have to pay your expenses first of all. However with expenses make sure you are only paying for as many necessary items as humanly possible such as utility bills, and loan payments. Critique your expenses monthly and ensure you are not wasting cash on useless magazine subscriptions, eating at restaurants excessively (yes McDonald's does count here...buy groceries people), and buying random items which blow you away at the checkout line. Once your expenses are taken care of try taking some money that you would otherwise waste on other purchases and begin putting it right into a separate savings account in a bank which you decide on (do not worry about finding a pursuit yielding checking account at the moment). The important thing here's separate account. Do not mix your family checking or other savings accounts you might have with this particular one (you will see why in articles in the future later). Develop a realistic intend to start saving for $1,000, whether it is setting aside $50 per month or $250 per month and so on. Saving for $1,000 has few purposes: first it develops a very important mental attitude within you by permitting you to develop a practice of saving cash on a regular basis; secondly this $1,000 will probably be a starting point for an emergency fund which we'll discuss later.
Begin with both of these steps by getting the mindset that credit card charging isn't any best to your unsecured debt elimination purposes and get into the practice of not using your credit card to charge anything if possible. Secondly create a game plan for establishing a separate savings account and create a realistic plan to conserve to $1,000 inside a reasonable period of time.