Fast track your home purchase with zero down payment
June 23, 2017
Help Us Give Back With a Holiday Toy Drive
December 8, 2017
Five Tips for Successful Money Management
April 24, 2017
When talking about successful money management tactics, the most important item is not how much you make, it is how much you spend! Below are money management tips to help you hit your financial goals.
Don't just save, plan- Everyone knows they should save but without a financial focus, saving just so save often feels less important than all the other items happening in everyday life. First start with an emergency plan. Once that is built up, start to divide your savings into short and long term goals that you have set for yourself.
Pay yourself first - When you sit down and assess your budget, determine how much you can save and pay yourself first. Take your savings out before paying or spending on anything else to make saving a priority #1.
Assess your priorities - After creating your budget and financial plans, determine the importance of achieving your goals within a set timeline. Write down which areas you can modify to make it easier to hit them on time. Challenge yourself to lower the cost or frequency of some of your current prioritized spending habits to move your financial goals to the top of the list.
The envelope system - Having trouble sticking to your planned budget? Try withdrawing your budgeted items at the beginning of the month and partitioning it out into envelopes marked for its purpose. For example, have a 'movie night' envelope, 'eating out' envelope, your 'frappuccino budget', etc. This way, what you see is what you get and once it's gone - its gone. This can be a clear way to force yourself to stay on budget if there are a few troubled areas that you are a bit too lenient on.
Assess your goals monthly - Seeing the big picture can be difficult without taking some time out and assessing your successes and failures. That can be said to just about anything in life, but with finances it is incredibly important. Analyze your month after month strategy to see what is working and figure out ways to help set yourself up for success.