| Personal financial problems can rob you | | | | spend when you see something you really |
| of happiness and contentment. Learning | | | | want. Some of these are: 1. Don't buy on |
| about these key issues now can save you | | | | impulse. Ask yourself 2 or 3 times "Do I |
| years of heartache later on. It's your | | | | really NEED this?" before you buy. If |
| life - why not enjoy it? You can take | | | | you cannot answer with a resounding "YES |
| control of your personal finances by | | | | " let it go. 2. Don't buy things JUST |
| applying the lessons listed below. | | | | because they are on sale. Only buy |
| Problem #1. Spending Without Knowing | | | | things you need. If you do need them |
| Your Limits As in business, you will not | | | | wait a few weeks the price may fall even |
| last long financially if you spend | | | | further. 3. Don't buy the latest fashion |
| without regard to your income. Knowing | | | | items at the height of the season. Just |
| your spending limits is not hard to do. | | | | wait a while. The prices usually reduce. |
| Just find the answers to these 4 easy | | | | 4. Don't compare yourself with others |
| questions: Question #1. What is my | | | | and what they have. They may have |
| take-home income per pay? (that is your | | | | purchased making the same finance |
| total income less taxes) Question #2. | | | | mistakes as you. 5. Set yourself a |
| What do I need to spend to live? | | | | savings target. Put this money aside |
| Question #3. What is the difference | | | | each payday BEFORE spending any of your |
| after taking spending from income? | | | | pay. Problem #4. Spending Without |
| Question #4. Can I save enough for my | | | | Feeling Satisfied Spending can leave you |
| future from the answer in Question #3? | | | | feeling pretty shallow and unrewarded |
| There are many tools to help you gain | | | | when you purchase on a whim or fancy |
| answers to these questions. You can find | | | | when you really know you cannot afford |
| many on the Internet. Helpful Hint: Find | | | | the item. What's more you may not even |
| one that helps you set your savings | | | | use it. What a waste! To really FEEL |
| targets, checks your ability to meet the | | | | GOOD ABOUT SHOPPING and spending you |
| targets and then shows your progress | | | | need to know these 4 things: 1. My |
| towards your goals. Problem #2. Spending | | | | budget allows me the freedom to purchase |
| Without Setting Savings Targets It's OK | | | | this item 2. I have the cash put away |
| to spend to the limits of your income | | | | already for this purchase (even though I |
| but that does not provide you with any | | | | will use my credit card for the |
| buffer for urgent purchases, or protect | | | | transaction). 3. This purchase is |
| you from a financial emergency. Urgent | | | | something that I really want and will |
| purchases could be renewing a broken | | | | use. 4. I have purchased this item at |
| fridge or stove, calling a plumber to | | | | the best possible price, saving as much |
| fix a broken pipe or having to spend for | | | | as I can. Problem #5. Spending Without |
| major car repairs. Financial emergencies | | | | Caring About Your Future Unless you are |
| could be temporary loss of income or | | | | planning for your future and financial |
| hospitalization of a family member. How | | | | security, you cannot be really happy. |
| would you survive financially in any of | | | | There are always worries lurking in your |
| these situations? You can begin to save | | | | mind about how you would survive in a |
| today, it's easy. What if you went | | | | financial emergency if you have no |
| without your bought lunch each day at | | | | savings. It can be very rewarding to see |
| work? That saves you $1,000 per year on | | | | how quickly your savings multiply over |
| $5/day. What if you reduced your | | | | time with only a small investment each |
| Starbuck's coffee by 1 each working day? | | | | payday. Did you know that by saving just |
| That's another $1,000 per year on $5 | | | | $5 every day this would grow into $1,867 |
| day. Just those two amounts alone can | | | | in 12 months at 5% interest and then it |
| mean a holiday for you, the beginnings | | | | grows into a whopping $10,343 in 5 |
| of a savings plan, or an emergency | | | | years? Isn't your future worth investing |
| buffer. If you set a target of 10% of | | | | in? Why not start to overcome your |
| your take-home pay each payday that | | | | personal finance problems today? Looking |
| would be a good start. If you think | | | | back you'll be so glad you did! If you |
| creatively, you are sure to come up with | | | | click on the links below you will be |
| ways to achieve this. Think of the peace | | | | taken to a great budget solution. It |
| of mind that would bring. Problem #3. | | | | helps you set your savings targets, |
| Spending Without Knowing How to Save | | | | checks your ability to meet the targets |
| There are many easy ways for you to save | | | | and then shows your progress towards |
| money that allow you the freedom to | | | | your goals. |