One way or the other our lives revolve around money. How to make it. How to save it. Wouldn’t it just be easier if we all just knew how to manage it. Well, it actually can be. If we learned in high school how to manage money our society might not be in the financial crisis that it it in now. Even for adults it is much easier to talk about managing and saving money then it it is to actually do it. There are simple ways to stop your bad habits and create new money managing one's. Stop wasting money and start saving. With these five easy life changing habits you can learn how to manage your money.
Get A Saving Account
Having a savings account is crucial. Life can bring you some pretty unexpected surprises. You never know when something is going to break on you. Whether it’s your car, house repairs, or medical bills regardless that are not usually accounted for. Leave yourself a money cushion. Take a little bit of money each time you get paid and put it directly into your savings account. Some companies will let you set up your checks to automatic draft some into your savings and some into your checking so it’s like you never even know that extra money is there.
Get What You Need Not What You Want
This concept is hard for many. Everyone wants the latest and newest things. Like new apps, electronic devices, and clothes. We think these things are needed. Well actually all we need to survive is shelter, food, water, and well in order to get those things money. Know what must be paid for survival purposes save what’s left and then occasionally give yourself a want. Things like buying coffee every morning can add up. Start making coffee at home, pack your lunch instead of going out for lunch. You will be surprised how quickly you will save money.
If you are not overwhelmed with debt. Starting thinking about your retirement. It is never too early to be prepared for the future. Most employers give you the option of investing in a 401(k). A minimal amount of money will come out of your paycheck and will start gradually growing your 401(k).
Create A Budget
Many people talk about making a budget but few have actually done this. Most people use debit and credit cards these days and if you use cash most of the time it is taken out of the ATM. There are easy to use digital system apps. that will help you create a budget. Most of the apps will link directly to your bank account and will do all the hard math for you. A lot of the apps are free. Everything is so easy and right there at your fingertips any time you need to take a look.
How is giving going to help you manage money right? You can volunteer, donate food, or a small amount of money to those who are in need. This habit will remind you that you are lucky and have what you need. It will teach you humility.
Change Your Habits Today And Save
By changing or adding these simple habits into your life you will pave your way to living a financially stress free life. What do you have to lose but more money.