Whenever someone mentions “money management,” “spending plan,” or “budget,” do you automatically cringe?” Does your heart always skip a beat when you open your bank account or credit card statement and realize that you’ve been spending more than you should? Begin by making a decision to plan for your spending, saving, and investing.
• Set clear financial goals: You spend money based on your values and goals.
• Create and follow a budget: Apps can be complex. Perhaps start out with pencil and paper.
• Track expenses: Use your banking and credit card statements.
• Prioritize needs over wants: Home, utilities, transportation, and groceries come first.
• Research before buying: Compare prices and read reviews.
• Practice saying “no” to things not in your goals: Take time before buying.
• Health: Insurance and prescriptions.
• Begin to reduce the emotion surrounding money.