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Stress-Free Money Management – Our Easy Top Tips For Your Financial Freedom

Updated on January 21, 2013

Easy Top Tips For Your Financial Freedom

It isn’t difficult to manage your money successfully. It may seem like a daunting task at first, but you only need a bit of discipline, a lot of patience and a little common sense to set your finances straight. And no need to spend money on a self- proclaimed financial wizard, your money is better-off… saved.

Here, we give you a little primer on how to get started on your journey to control your personal finances. This is an important part of any adult’s life because better finances mean lesser debt and bigger savings and an overall sense of well-being and accomplishment. Throughout your life, just make it a priority to live within your means and you will be well on your way to maintaining and increasing your wealth.

You need a Money Management Goal

Your net worth is an important indicator of your success as a person. So increasing it should be a goal unto itself! But if public acknowledgement isn’t your thing, there are other reasons for becoming financially independent. So get yourself a money-management goal that conforms to your personal aspirations for a better future. And it’s great if you want to start out on a smaller level, e.g. aiming to pay off the credit card debt by the end of the year is a perfect goal. You can also aspire to save definite amount money by a certain date. Or you can aim to save for a comfortable retirement. Just set yourself a goal that inspires you to stay on track and means a lot more than any sales going on around you at the moment.

Start Counting What You Already Have

We asked you to live within your means. So what exactly are your means?

Yes, in order to manage your money properly, you will need to know how much of it you actually have. So take out some time to count all the cash in your pocket, piggy bank and bank accounts. Go through your drawers, check under the mattress, in the sofa, jewelry boxes and in your coat and jeans pockets. By now you may just have surprised yourself at how rich you are!

Now take account of all your assets i.e. car, valuable baseball card collection, family antiques etc. Find out their current market values as well.

Know Where Your Money is Going

At least for a whole month keep a track of your income and where it is spent. Do not throw away any receipts, old check stubs, etc. And don’t forget to account for sick days or any extra income you have made when calculating your income. Similarly, you ought to know where your money is going down to the last penny. It is important to be honest to yourself. Even if you digress and have a little shopping spree, admit to yourself that it was only human and get back on the track to financial freedom. Don’t sabotage your efforts for a better future because of a minor deviation.

Make it a habit to record all the expenses, bill payments and debit & credit card spending. And when you finally have a hang of how much you are spending unconsciously, you will find yourself keeping from spending that extra dollar on the morning coffee or cigarettes. Soon it won’t be about denying yourself the little pleasures because your eyes will be on the ultimate Money Management Goal.

Some Tools to track your finances:

Bill Monk - Free

Billster - Free

BudgetEDGE – Free

Moneytrackin’ – Free

IRECONCILE – Iphone, Ipad, Ipod App - $1.99 per year

GROCERY GADGET – Iphone, Android, Blackberry, Windows, Symbian Phones App - $4.99

YNAB YOU NEED A BUDGET – Iphone and Android App - $60/ free 34 day trial - The Best Free Way to Manage Your Money


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