10 Easy Ways to be Better With Your Money Today

Life is much easier when you are good with money. Every positive financial habit you start today will contribute to your wealthier future. Below are 10 easy ways to improve your money management today.

1. Do not delay and create your budget. If you are bad with money, you absolutely need to write a budget to correct your behavior. It only takes an hour and it will keep your money in shape for an entire month!

2. Follow your budget. Writing a budget is only helpful if you use it. Refer to it every time you make a spending decision. Keep it updated so you know where your money is going.

3. Budget for fun. If you still have money left after all your basic expenses, you can use it for fun. But do not go crazy and spend it all! Budget for fun, too.

4. Record everything. Do not underestimate any spending. Big or small, record it so you are not unknowingly overspending.

5. Do not add to your recurring bills. Just because you can qualify for a loan does not mean you should take it. Always consider your monthly obligations as a whole before committing to new monthly recurring bills.

6. Look for deals! It does not take too long to find discounts, coupons, or cheaper alternatives online. Take a moment to look for deals to make sure you are getting the best prices.

7. Save for big purchases. Yes, you can use credit, but delayed gratification will save you a lot in interest! Save up for your big purchases to keep your budget intact and avoid missing any of your bills.

8. Deposit to your savings account. Every month, you should add to your savings account. Set up automatic payments to never miss a deposit.

9. Leave your credit card at home. Practice using cash and stop buying things you cannot afford now. Sometimes, it is too easy to turn to credit without considering whether you can afford the balance and interest. Resist the urge to use your credit card and be more responsible about it.

10. Practice good money habits every day. It takes time to discipline yourself and develop processes to make your money work for you. Be patient! The more you practice your smart money habits, the better off your finances will be.

Ian Schindler