August 4th, 2014 at 10:10 am
By Kim Ross
Wouldn’t you like to stop worrying about your finances? Making a plan and getting organized will help you understand your financial situation and lower your stress. I am constantly amazed at how many people find a budget so difficult to manage. Even people with an endless income can use a budget to manage their money and keep track of their spending and saving.
Here are some ways to get organized in the money department:
Create a budget. List all the different categories that you may spend money on. I like to get more specific but others do well with general categories. Take control of your money and assign realistic amounts to each category. Pay attention to categories that you have some control over and can use coupons or specials savings on ~ Eating out, groceries, utilities, and clothing.
Set goals for your finances. Think about what you want to accomplish over the next year, 5 years, or even more. Set up ways to save for those goals. It is great to get the kids involved in these ideas too. Also think about retirement and what you want to accomplish savings wise.
Set up a way to keep track of your finances. This may be done online, through spreadsheets or apps, or with pen and paper in a finance journal. Find what way works best for you.
Search online for ways to save and organize. There are tons of coupons and saving strategies available on the Internet. Most companies have some sort of loyalty program, app, or newsletter signup where you can be alerted when there are savings available. When making a big purchase, do research online to find the best price possible. Buying pre-owned or used items such as furniture, cars, etc. can cut prices significantly. Create a “savings strategy” and stick to it. I.e. Every week you clip the newspaper coupons, do an online search and print, and organize your coupons in a booklet or folder so it’s readily available when you shop. Set up an email account just for savings, and have all your newsletters and coupon emails in one place.
Make sure your family is on board. Make sure everyone is part of this process. If you are the only one trying to save money, the other family members will still make trips out to eat, keep the lights on in unused rooms, and plan extravagant vacations. If you are all on task, more money will appear in your savings and all your financial dreams will come true!
How do you manage your money?