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