Are you tired of feeling overwhelmed by your finances and ready to up your financial game? If so, then check out these simple tips that can go a long way towards finding your financial confidence. By implementing these easy financial tactics, you’ll be able to stop dodging your bills and enjoy getting your shop on guilt-free.
Though you may have heard it a million times, making a budget and sticking to it really is the key to financial success. While we all tend to have an “idea” of how much we should spend on various expenses, such estimates rarely line up with reality.
It’s time to sit down and put pen to paper. A great way to start is by keeping track of every cent you spend for a month, either in a notebook or with the help of an app like Mint. Once you know you much you actually spend on various expenses, it’ll be way easier to see how much money you should set aside each month for different categories.
Use credit cards responsibly
The odds are that you’ve already got a credit card in your wallet. The key is to learn to use it like a debit card. Credit cards can be a great way to build credit, as well as enjoy the financial perks that many companies offer.
But the only way to keep them from being a highway to debt is to never spend money you don’t actually have. Treat expenses you charge to your card just like those you pay for with cash or debit. If you don’t have money in your budget to pay something off at the end of the month, it’s better left on the shelf until you do.
If you’ve been implementing a “don’t ask, don’t tell” policy with your bank account balance, then you probably already know how that tactic tends to work out. Instead, pick one day of the week where you make a habit of checking in to see how you’re finances are going.
As easy as it may sound, simple awareness of your finances is the key to keeping them on track. Even if it turns out that things aren’t going well, it’s better to find out now than when you get a huge bill at the end of the month.