D' Finance Bench

The Right Place To Sit At For Financial Advises

How To Effectively Manage Your Money

Money problems? You are not alone. Almost all of us have that one TYPICAL problem. It is a frustrating thing that we need to deal with. But don’t you get sick of having the same problem over and over again?

The right money management strategies can surely help you get away from that problem. It will take little sacrifices though, but things will run smoothly as time goes by if you will apply these methods.

Create A Money Management Record

  • Keep track of how much you spent and by the next month try minimizing that spending. Have your own spending limit on your money, credit card etc.
  • Keep a record on when you have to pay your bills to avoid paying for overdue penalties

Managing Your Existing Debts

  • Pay them accordingly
  • Consolidate your credits/debts
  • Try to negotiate to the institution where you get your debts from
  • Do not leave debts behind. Remember that the penalty is growing.

Say No To Debt (unless needed)

  • Do not loan or borrow money if you still have some other resources to get money from

Say No To Gadget

  • Even if the latest trend seemed to be very enticing, you shouldn’t spend too much for it, specially if you have debts to pay. Why not use the money to a more important thing first?

Say No To Lotto

  • A lot people made this mistake. Spending their hard-earned money for the sake of a chance that may not come until the end of their lives.

Say No To Excessive Spending

  • Stop eating at fancy, classy restaurants. Cook and eat at home. Why not go to the grocery store and buy bulk of what you needed for the whole week? This way you’ll save up on gas that you’ll have to use just to head to that store.
  • Find great deals and discounted items

And, lastly—-it’s all about self-discipline. Without holding back from unnecessary spending and careless financial management, one can end up sleeping on the streets.

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August 30, 2012 - Posted by | Money Management | , , , , , , , ,

1 Comment »

  1. Too many times we look at items and forget the JTE. How many hours do I have to or my spouse work to get that must have brand name vs generic.?

    Comment by disciplinedvault | August 30, 2012 | Reply


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