Making the most of your money is a never-ending exercise, and
most people wish they were better at it. Momentive™ Consumer
Credit Counseling Service® suggests ten simple steps that
can help you become fiscally fit:
Set Goals.
Decide where you want to be in a month, in six months, in a year,
and in five years. Put it in writing.
Develop a budget.
A practical and realistic budget can help you achieve your goals
while avoiding temptations.
Involve the family.
Family members need to understand the plan in order for it to
work.
Track your spending.
Keeping track of every cent may seem difficult, but you'll know
where all the money goes. A month of detailed tracking will
give you a good picture of your spending habits.
Treat Yourself.
You probably won't stick with a budget that doesn't allow for
special things like and occasional dinner out or the movies,
so make room for them.
Avoid impulse purchases.
Do you really need it? Wait a day or two before deciding.
Pay Cash.
Using cash instead of a credit card often makes people think
twice - and there are no "surprise" bills.
Create an emergency fund.
Every month, put money in a savings account to be ready for unexpected
bills and emergencies.
Find a better credit card.
Shop around, and you'll probably find one with a lower interest
rate and better terms.
Start right now.
The longer you wait, the harder it will be for you to attain
fiscal fitness.
