TOO MANY ‘days left at the end of your money’;  the next pay check?  Here are simple steps to help you manage your money!

1. Know Your Spending Pattern!
   1. Track your every penny for 2-3 months.
   2. Write it down, use Excel.
      1. Make a list.
      2. Write down the Date, Place, Description, Amount,
         1. for every penny you spend!!!
         2. Who says good things come cheap?
2. Plan Your Spending

   

   1. Draw from ‘1’ above.
   2. Make a budget.
      1. This is a ‘plan for spending’ based on your income.
      2. Use approximate numbers (averages).
      3. Estimate regular expenses at the higher end (Be realistic!).
3. Monitor Your Spending Pattern
   1. There are many apps that do this.
   2. Most likely your Bank can also do it for you,
      1. if you do not mind someone else tracking your finances, and
      2. if you do not mind signing up ‘for free’
         1. (nothing is truly free) or,
      3. you can make your own Excel budget.
      4. Excel has many templates for household and other types of budgets.
         1. Here is one that I use:
            1. By George Hayward – Household Budget Template
4. Keep to Your Plan (Your Budget!)
   1. Automate Regular Expenses:
      1. tithe (10%),
      2. bills, and

         

      3. savings and investments (10%).
      4. It will help your credit score.
   2. Keep Spontaneous Purchases to a minimum.
      1. They are the main source of going over budget.
      2. This includes ‘eating out’ on the spur of the moment.
5. Make a Priority List for Spending, Mine: 
   1. tithe,
   2. bills and obligations,
   3. necessities (health, food, etc.),
   4. emergency Funds saving,
      1. (six months worth of regular monthly expenses)
   5. savings and investments, and
   6. leisure, and other discretionary spending.
6. Don’t hold Credit Card Balances
   

   Photo by Pixabay on Pexels.com

   

   Photo by Pixabay on Pexels.com

   

   Photo by Pixabay on Pexels.com
   1. The interest rate is too high (often 10 – 25%) on balances.
   2. Even when you make minimum payments,
      1. your balance is still increasing and
      2. your outstanding it will double in almost every 4-7 years!
7. Learn How to Invest and Grow Your Wealth – More on that later!

AND YOU ARE ON YOUR WAY!

YOU CAN DO THIS!

LET’S DO THIS!