SIMPLE BUDGETING TIPS

We all desire to keep our finances under control, but so many of us refuse to take necessary steps to ensure this happens. By implementing a common “cents” approach to budgeting, our savings gradually will increase, and we’ll no longer have to live paycheck-to-paycheck.

GO TO YOUR BANK and take out enough cash to last you one week at a time. You may not think twice about swiping the plastic, but if it requires using the last of your week’s cash, you’ll be more likely to turn down a $100 dress shirt.

ELIMINATE BAD HABITS. Beer, lottery tickets and fast-food restaurants will drain your bank account faster than you think. Plus, eliminating these habits from your daily routine will help you save in health care costs down the road.

SHARE RESPONSIBILITIES. If your spouse is a heavy spender, then your efforts to save money will prove futile. Carefully plan a budget you both agree on and make sure both parties are religiously sticking to it.

ELIMINATE CREDIT CARD DEBT. Rather than continue making the minimum payment, strongly consider paying as much as you can on your credit card each month. In the long run, you’ll end up paying much less on interest.

KEEP YOUR RECEIPTS. Not only does this help you stick to your budget; it also helps you determine certain areas where you may be overspending.

Source: money.howstuffworks.com/personal-finance/budgeting/10-tips-forstaying-on-budget.htm#page=10

WANT TO KNOW WHY AMERICANS HAVE TROUBLE SAVING? CONSIDER HOW MUCH SENSELESS SPENDING OCCURS IN THIS COUNTRY.

$1,092 the amount regular coffee drinkers spend on coffee each year, according to a survey by Accounting Principals

$66.5 billion—the amount Americans spent on lottery tickets in 2011, according to CNN

$2 $400 billion—the amount Americans spent on gift cards in 2012 that went unredeemed, according to the research organization TowerGroup how much the average American loses each year to gambling billion—the total amount of ATM fees in the U.S. in 2010

$7 $117 billion—how much Americans spend on fast food each year

Source: usatoday.com/story/money/personalfinance/2014/03/24/20 -ways-we-blow-our-money/6826633/