Money Management
Nickel and Dime-ing You Way to Love
As the economy has spiraled downward, many of us have had to re-evaluate our budgets. This may mean cutting back on going out to dinner, going to the movie theater, or going out on dates—what NO dating? Now, relax, you don’t have to give up dating. Just because you are on a budget doesn’t mean that you can’t do anything special for your dating partner. You just need to plan out and find ways you could be saving money for your dating experiences.
First, make of list of things that you can live without. Maybe, you stop every day at the local coffee shop for a latte and danish. What does that set you back–$5.00? If you made coffee at home and ate at home, you could save $25.00 a week. All right, so you don’t drink coffee, but you eat out for lunch every day during the work week. Same concept as the coffee. Just bring your lunch from home, and you save at least $25.00 a week. Again, the money you saved can be put into your dating fund.
Secondly, make a habit of gathering up loose change and putting it in one place. You will be amazed how much money you can find by searching your pockets before doing laundry, looking in the couch cushions. Also, ask your bank if you can deposit this change into your savings and checking account, but be careful since some banks charge fees for this service.
Finally, look for ways that you can reduce costs. For example, if you live near public transportation, take the bus or subway rather than driving yourself. Maybe you and a co-worker live near each other, you could always suggest car-pooling. This has the immediate money savings, but also save wear and tear on your vehicle.
As you plan your budget, if you follow these saving techniques, you can have a great date that won’t break the bank. Your dating experience will help relieve your financial stress and not add too it!
Debt Consolidation-Tips for Managing Your Money
If you’re having trouble making ends meet each week, and often find that you run out of money before you run out of month, it may be time to consider debt consolidation. However, if you consolidate your debt without making some adjustments to your money management habits, you’ll quickly end up back in the same trouble. To make a solid change for your financial future, consider a money management plan that involves debt consolidation, instead of looking at the consolidation as a way out of your current problems.
Make a Budget
Before you spend money each month, be sure that you know where every dollar is allocated. Take time to develop a spending plan based on how much money you have coming in, as well as how much money you need going out to take care of your basic needs. Remember, paying the car payment is essential, while eating out every night is a luxury that you probably can’t afford.
Pay Yourself First
One of the best ways to build wealth slowly is to save a percentage of your paycheck each week or month. Start a savings account where you stash money for emergencies, and set aside a small amount every time you receive money. Before you know it, you’ll have a nice stash of cash for emergencies.
Plan for Periodic Expenses
Instead of waiting until the last minute and then frantically struggling to make ends meet, set aside a small amount of money each month for large purchases or expenditures. Christmas comes every year, and your car will always need regular tune-ups and tire replacements. By budgeting for these items in advance, you can pay them off in cash instead of reaching for your credit card. This will help you to avoid accumulating new debt, and help you work towards a solid financial future.
