Get Your Money Right: 5 Financial Health Tips
Financial health. That’s something you don’t always hear about until a bill is due. But just as your physical health is necessary for you to live, your financial health is just as important. Â Having money and resources is not evil and managing both of those is your duty for yourself and your family.
So we’ve comprised 5 simple tips to help you along the way to having a stronger, healthier financial life.
Try to Use Cash as Much as Possible – We know that this is the digital age, but cash can help you save money. Â In a recent Harvard study, it was found that people who make purchases using their credit card spend 4 TIMES the amount that they would spending cash. Â It’s a psychological thing. Â Use cash, you can literally “feel” the money leaving your fingertips, so you don’t spend as much.
If you can’t use cash, use a debit card that immediately takes the money away. Remember, credit is just that: credit from someone else that you have to pay back–with interest! If you think you want to buy something, save up for it, THEN buy (that may be a little TOO REAL for many of you).
Go Old School – Nowadays, many people’s idea of balancing their bank account is simply checking their balances, but that’s not it. Â Create a simple spending plan that tells you where you want your money to go every month. Â Don’t leave any dollar out. Â “Miscellaneous” dollars are the ones that are spent mainly on impulse buys and things you don’t need. Â Take a hard look at what you spend one month then the next month, create a spending plan for every dollar you make.
Create A Job – There’s an old saying that says, “The best cure for unemployment is a job”. And with the invention of the internet, there are a ton of money making ways you can create including selling old, used goods to…