The economic situation seems bleak. It is plastered before you every day on the news. They speak of economic recovery and then the next day show the stock market take another dive. For some, the stress of getting laid off of work or being fired has driven them to hurting themselves or others. What gives? It seems that a bad economic situation my spurn more than a downturn in the wallet.
Financial stresses in this country are affecting more than the wallet. If you are feeling the strain, make it a priority to get back on track. Your stresses of trying to keep all the balls up in the air will only compound and get bigger without some action. My perosonal opinion is, if you are not good for yourself you can't be good for your family. Getting better for yourself means finding the discipline within yourself to bring your finances under control.
Getting started is easier than you think. The very first step in your plan has nothing to do with making more money. I realize that you will only be able to make a pre-determined amount of money in the very near future. So, what do you do. Start by attempting to hold on to as much of your money as you can. Who cares how much money you make or don't make. If you don't save any of it or are over spent every month it doesn't matter if you are a gozillionaire. So it is all relative.
As you start to lay out a plan, think along these lines. Your paycheck last week was $2000.00. You Spent $2005.00 and you realize you are broke again and don't know where you are going to make it up. Your lazy neighbor only made $400.00 but he was able to deposit $200.00 in his savings account. Relatively speaking, who is better off. I just want to point out that how much money you make has nothing to do with this equation.
What I am about to explain is very simple but very difficult to stick too. Get a calendar and post every bill on the day that it is due. Make sure to post bills that need to be mailed early enough to make it before the due date. Every Friday or whenever you normally draw a paycheck, list your expected deposit. Subtract the weekly bills and expense requirements to include your weekly spending money. Don't forget the spending money!
Once upon a time, I learned an exercise acronym called F.I.T.T. It stands for Frequency, Intensity, Time and Type. The F.I.T.T. factors are supposed to be followed in order to increase you physical stamina. The most important and heavily weighted of these factors is frequency or the number of times you actually exercise. The same holds true with saving. Do it every week, no matter how little the amount. You may say, well saving $10.00 just isn't worth saving so I am going to spend it. I say deposit that $10.00. You are doing more than just depositing $10.00, you are training yourself to be a saver which will eventually get you out of debt. Every week attempt to find ways to save more.
Get rid of your credit cards or freeze them in the freezer in case you need them for a dire emergency. But stop using them. That goes for debit cards also. After you fill in your calendar, you should cash out your spending money when you deposit your weekly paycheck. Spend your spending money and nothing else. Don't write checks for anything except bills. In the end, if you only start savings $5.00 a week its better than the guy in the example up above who earns a $1,000,000 a week but is $100.00 in the hole. Get the idea.
Lastly, going back to saving all you can. Remember that how much you can save is the key to your getting out of debt. To maximize every dollar, find the best deal you can find on all purchases. For major purchases, shop at least three places. Search for discounts and coupons on the items you buy. You want to know where to get $20.00 this week to put in your savings account? Find a couple of discounts or coupons. Becoming an avid saver is a condition of the heart. You can do it if you really want to. Find discounts and coupons every week at MyWorldPlus
Financial stresses in this country are affecting more than the wallet. If you are feeling the strain, make it a priority to get back on track. Your stresses of trying to keep all the balls up in the air will only compound and get bigger without some action. My perosonal opinion is, if you are not good for yourself you can't be good for your family. Getting better for yourself means finding the discipline within yourself to bring your finances under control.
Getting started is easier than you think. The very first step in your plan has nothing to do with making more money. I realize that you will only be able to make a pre-determined amount of money in the very near future. So, what do you do. Start by attempting to hold on to as much of your money as you can. Who cares how much money you make or don't make. If you don't save any of it or are over spent every month it doesn't matter if you are a gozillionaire. So it is all relative.
As you start to lay out a plan, think along these lines. Your paycheck last week was $2000.00. You Spent $2005.00 and you realize you are broke again and don't know where you are going to make it up. Your lazy neighbor only made $400.00 but he was able to deposit $200.00 in his savings account. Relatively speaking, who is better off. I just want to point out that how much money you make has nothing to do with this equation.
What I am about to explain is very simple but very difficult to stick too. Get a calendar and post every bill on the day that it is due. Make sure to post bills that need to be mailed early enough to make it before the due date. Every Friday or whenever you normally draw a paycheck, list your expected deposit. Subtract the weekly bills and expense requirements to include your weekly spending money. Don't forget the spending money!
Once upon a time, I learned an exercise acronym called F.I.T.T. It stands for Frequency, Intensity, Time and Type. The F.I.T.T. factors are supposed to be followed in order to increase you physical stamina. The most important and heavily weighted of these factors is frequency or the number of times you actually exercise. The same holds true with saving. Do it every week, no matter how little the amount. You may say, well saving $10.00 just isn't worth saving so I am going to spend it. I say deposit that $10.00. You are doing more than just depositing $10.00, you are training yourself to be a saver which will eventually get you out of debt. Every week attempt to find ways to save more.
Get rid of your credit cards or freeze them in the freezer in case you need them for a dire emergency. But stop using them. That goes for debit cards also. After you fill in your calendar, you should cash out your spending money when you deposit your weekly paycheck. Spend your spending money and nothing else. Don't write checks for anything except bills. In the end, if you only start savings $5.00 a week its better than the guy in the example up above who earns a $1,000,000 a week but is $100.00 in the hole. Get the idea.
Lastly, going back to saving all you can. Remember that how much you can save is the key to your getting out of debt. To maximize every dollar, find the best deal you can find on all purchases. For major purchases, shop at least three places. Search for discounts and coupons on the items you buy. You want to know where to get $20.00 this week to put in your savings account? Find a couple of discounts or coupons. Becoming an avid saver is a condition of the heart. You can do it if you really want to. Find discounts and coupons every week at MyWorldPlus
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Make more, bank more and live easier. Visit Steven Phillips at his home page at Online discounts
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