I have not done this in a very long time and I feel that it is only right to start on something that has become a big thing in my life and that is trying to get my money right. By that statement I mean that I want a substantial savings account, start investing and making sure my retirement plan with my paycheck is updated accordingly.
We are a generation of living in the now and we do not plan for the future because we want to live for today AND I still believe there is nothing better than living how you want to. However we should probably address the fact that there will come a time when you need money unexpectedly and maybe you want to retire or even venture out into your own thing eventually. For this you will need cash…
I am by no means an expert in fact I actually write my budget in my calendar planner on a paycheck by paycheck basis so that I can force myself to be accountable with my money. Since starting this blog I have had to invest in some things that did require me to save and to practice some kind of discipline. So here are 5 tips that I am currently either already using or getting ready to use to better my money game:
- Write it out: Plan your bills ahead of time so you know which ones are automatic transfers, needs a check, etc. In general this gives you a better understanding of how much spending and savings you can afford.
- Treat your savings account like a bill: For me when I lay out my bills I include savings because I set a goal of how much I want to save each month. So when I go online to pay a credit card or a utility bill, I also transfer some money to my savings account.
- Have separate accounts: I can honestly say having my savings account separate from the account my paycheck actually drops into has helped me a lot. I pretty much do not see my savings account unless I am actively making sure the transfer went through.
- Consult an accountant or a broker: There is no reason you cannot learn about money and investing from people who are actually trained in just that. Just do your research on your own as well. I never suggest taking anyone’s word for face value. These could also be ways for you to grow your money and in fact hire someone. (I am working to this point)
- Strive to pay off big bills so you can be more liberal with your budget so if that means you have to stay home a couple months then do it. It will be completely worth it.