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