Smart Money Management
If you’ve decided to adopt a more frugal lifestyle – congratulations! You’ve taken the first step to financial freedom. If you’re a little overwhelmed about where to start, take a deep breath. All it takes is determination and a few key management skills, which anyone can learn.
Keep in mind that reaching your financial goals is a journey. It may be different from anyone else’s, and that’s okay. You need to educate yourself and understand your own personal financial situation and continually track your progress. How do you get started? Let’s look at a few basic steps for smart money management. Create (and stick to) a budget. Learn how to use excel or another program that will help you track all of your expenses, income and assets.
If you’re not sure where to begin, tackle one month for now. Determine your monthly income (after taxes). Next, pull out all of your receipts, bills, and banking statements. Make a few categories, such as household expenses, groceries, and entertainment. St…
