Building Your Personal Finances Begins with Simplicity
Understanding and Willingness Matters
Getting to Understand the Puzzle
Saving money can be daunting for those of us who are just lay people and work common everyday jobs. Often you hear on adds, which are mostly infomercials that tell you that for 39.95 that they can tell you how to grow wealth from debt and other rubbish that only leads you to paying more money to get them rich. Most of the time what they tell you to do requires a long training manual and also requires you to be making a lot of money to begin with. For the average person struggling to make a living off of minimum or just above minimun wage range, they may as well save the 39.95 and not end up having spent over a hundred dollars when they are conned into buying the other set of CD's. That is the point of this whole text. Saving begins with common sense. This can even work for families as well. If you are living from pay check to pay check ask yourself first of all what kind of services do you have to offer and how much spare time you have during the course of a week to use. There are people who may pay you a modest fee for shopping for them and if you have a car or truck and have the time you could make money doing this. Every job has risks but keep in mind that even the delivery boy that brings you your news paper faces risks. Life has its risks no matter what so let's concentrate on what you need to do to earn extra cash. Another thing you could do is talk to college students who are majoring in law, medical, and other subjects that could depend on a clean record to obtain a good career. This does not guarantee that there would be no risks but using some sort of screening does make sense. By allowing them to board with you this could save them some money and earn you some extra income. Another idea is to buy savings bonds where you work or bank. This could be treated like taxes and would be set asside automatically each month. Another idea would be to look at some of the other things that you could do. For example, how many cartons of ciggarettes do you buy a month. The extra money that you use to support this unhealthy habbit could be cut in hlaf if not ended all together. So you can begin to see that looking at the whole picture you could possibibly save money from complications that could result from an unhealthy habbit such as smoking. Throat and ear and upper respiratory problems may not occur or may be less in severity fi you would just put the money asside for smoking and save it. This may not appear to do anything for you because of its intangability. In other words you don't immediately see it. What type of car do you drive. What price range could you comfortable afford? Do you have credit cards? How much are the limits? If you are allowed, for example, 500 dollars on a credit card then you should cut that limit by one half. Allow yourself to use this card only for what you need even if its a small need and you can pay it off in at least three monthly installments. Have you made enough money to go on a vacation this year? Is it, let's say, going to cost you 1200 dollars? Maybe you could go on a cheeper vacation for 900 dollars including costs of eating and other extra activities So the over all cost would be more than 900 dollars but that would also be less than the overall costs added to the 1200 dollars that you originally wanted to spend. While lots of people may pride themselves on knowing about stocks and bonds and other methods of saving, this simple way of understanding how saving money works can apply to any income level. Healthy habbits, reasonable goals, and applying a little thinking can get you in the right frame of mind and keep you on the right track. Are you spending money for other things you don't need and are in need of car repair or furnice repair but simply are not willing to spend the money? In the long run it could cost you. What you do in life is an integral part of how personal finances can work for you. If you want to buy a house and the mortgage would be 1100 dollars a month and that was confortable for you ask yourself is it possible to get a mortgage for 950 dollars and put back the difference for when you need it. How much life insurance do you have? Can you cut it in half and save the difference? After all you still have to eat and have a place to stay as long as you live. No one can totally prepair for a major cotastrophy and we can not live our lives that way. However practicing healthy and law abiding habbits can make a difference. You see if you speed when you are driving and you get a ticket, you've done something stupid and costly that could have even hurt or killed you. Don't get me wrong. I'm not saying that you should be a whimp because life naturally get's complicated and you have to act accordingly. Just use your head when there is no need for extreme, drastic action. Now you see what the big picture is all about. Devise things that you and your family can do that is less costly. Draw up guidlines that allow you and your family to have personal space within your home and work on healthy games and activities and make them a ritual. In other words, use your mind, Think! Don't ever feel that you have to do something that your friends or neighbors do just to keep you from looking poor. This even applies to people of religion as the bible says "Thou shalt not covet". It's your life that you are concerned about. Helping others is not entirely based on writing checks or loaning money you cannot afford to loan. If your child's school is asking you to buy things that are not necessary such as giving your child's teacher a baby shower, have a talk with your school administrator. Get involved with your local church if you tithe, donate, and. are also a member to get together and help get your children and other neighborhood children the necessary supplies that they need for school. Also you can organize yard sales and bake sales. Get creative. Even your children can take part. So you there agan can see that making personal finaces an integral part of your life and life style along with all the much more sophisticated things that come into play as you learn more can and do make a difference in taking better control of your personal finances.
Don't abuse credit. It is not free. You are buying a loan.
Help to Make a Wise Assesment
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