Five Golden Rules of Daily Money Management

Published Friday, July 31, 2009 by slinasooobhe | E-mail this post

Is there a way to get a handle on how much Georgia Cerebral Palsy Lawyers we spend and how much money we earn every month? The answer is, yes!

Below is a list of 5 golden rules of daily money management. These are the rules some of us wished we were taught in school because of how stressful Groot Aquarium 300 Cm can be when we let debt accumulate or live paycheck to paycheck Shoe Bin no change in sight.

The E Sky Rc Flugsimulator golden rules of daily money management:

Rule #1. Pay yourself first! The best way to do this is to designate a certain amount of money to be deducted from each paycheck. If you don't see the money in your checking account hopefully it will be out of reach and you will be less inclined to spend it.

Rule # 2. Create a spending plan and stick to it! When you don't plan you will always be taking a rearview mirror approach to managing your finances. There is little you can do to recover money once it Split Her Pants been spent.

Rule #3. Maintain a checkbook balance! Periodically compare your balance to what the bank says you have. Your checkbook balance is your true bottom-line because you will have deducted all outstanding payments and checks.

Rule #4. Maintain a Denver Law Firm register! This looks like a checkbook register but instead you are adding and deducting all your cash transactions. It is easy to stop by the ATM for cash. In a day or two you find your wallet empty again and are back Slat Bed the ATM for more cash. Chances are you have little recollection of where the money was spent. Small purchases add up whether you spend the money on food or other discretionary items - multiples of $50's or $100's Pci Adapter Antenna times a week over the year add up to a significant sum of money.

Rule #5. Avoid using "plastic"! Although a card (debit or credit) swipe is convenient, it is habit forming. There is little if any consciousness or connection with a transaction. Have you ever grabbed a receipt from a debit or credit card transaction, unconsciously stuck it somewhere never to be looked at again? Sometimes we are in such a Disney World Travel Advice we will sign a credit card receipt and not even look at the total.

Even when you pay off your credit card every month it has been proven you will spend 15% to 30% more. If you pay with cash you can only spend the money you have with you. Reward credit cards are enticing, but if you spend less when you use cash you will save money in the long run which is probably worth more than the value of the reward offered by the credit card company.

The bottom-line is to avoid spending more that you earn. As you know, this may sound simple but is not always easy; however, if you follow the five golden rules of daily money management overcoming your personal financial challenges may become easier than you think. The purpose of these five rules is you help you stay in touch with reality. When you know what is 'real' this is when you become empowered to make stronger financial decisions.

The closer you come to implementing all 5 of these rules the greater your chances of financial stability and success. However, don't give up if you cannot get on board with all five. Changing from old habits to new ones is a process. Start with one rule or one step at a time. When you start to notice results you will be motivated to apply all five rules.

Barbara Hause works with Ny Limo individuals and entrepreneurs who seriously want to improve their relationship with money. There is only one way this can be accomplished and that is to start with a spending plan. It is amazing how this process leads to strong money choices and a secure financial Fleurs Cha Et Artificielle Barbara has an MBA and is a Certified Financial Recovery Counselor in San Ramon, California. She meets with clients in her office or by phone from anywhere in the USA. Barbara can be reached at 1-800-497-2319 or visit http://www.barbarahause.com

Five Golden Rules of Daily Money Management

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