There’s never a better time to FIX your FINANCES than right now! Your credit cards, cash allowance, debit cards, bills, etc. are all LINKED to your name. The numbers are scattered all around you (and me)! We all have our own set of bills to pay, debt to negate, future plans to purchase, amendments for savings, etc. Thus, we must set a time aside each day, week, month to know where our money goes.
Recently, my credit card (a card for daily budgeted business: gas, groceries, etc.) statement arrived. I scrolled through my purchases to make sure I had made all of those. The balance was on par with my book keeping. I paid off the card in full and re-budgeted the card for the next month’s spending. Sticking to an all cash budget doesn’t mean have endless cash on hand or in your purse. You can restrict a card to help you budget too. I use my card to make purchases that must be made to meet our family’s needs first. The % back that I earn helps pay for something else that we need (that we were waiting on purchasing). This month the $17 return helped pay on new work boots. Thus, rather than having a credit card finance charge, we are getting paid to use our card. (Can this get you in trouble? Indeed. If you are not focused on needs before wants.)
You must be deliberate about everything you spend. Are you budgeting?
Begin with little goals like paying off a small debt ($1000 personal loan) to BIG goals like paying off a big debt (medical bill of $5500)—-and even have bigger goals on the radar like a down payment for a new car or paying off your current car. You might even be able to take a vacation of your dreams. There’s no reason not to have what you want when it comes to your goals. Start small and strive to fix your finances. It’s the perfect time to spring clean and prepare for a yard sale (tag items now; sell bigger items online), work a second job, barter, use your skills to bring in a little extra cash each week (photography, baking, writing, etc.).
What can you scale back on this month? Here are my top three choices that save us money every month:
1. Eating Out. Menu plan at home so that every meal is thought out. Zero budget for food for all for a week will save you big bucks in the course of a month. Eat what’s in the house for a week and see how deep into the freezer, refrigerator, and pantry you can dig to create a new dish/snack.
2. Clothing/Shoes/Accessories. Budget a small amount for great deals for the entire family for the month but nothing over that amount. With only a few days of January left, you can ride into the next month without another pair of boots, jeans, jogging pants or scarf. Try it. If you don’t spend the allotted clothing cash budgeted, pair with February’s for something better/more—or use the cash to negate a bill.
3. Money Saving Apps. Use the FREE apps on your phone to align to your grocery receipt after each shopping trip. You can save around $30-50 each month depending on what you buy.
No matter where you start in mapping out your best year yet, don’t ignore your finances. They travel with you wherever you go. Fix them first and I promise your adventures will be more alluring!
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