| Many Americans and people in countries where | | | | which works like a mutual fund only that it |
| ready credit is available find themselves in | | | | just buys up the entire index of stocks. This |
| greater debt then ever before and this makes | | | | way you do not need to work about over |
| you wonder whether you are working for | | | | performing or underperforming the market and |
| yourself or for your creditors. This ends up | | | | the management fees for these funds are |
| being a problem of financial spending & | | | | really low. |
| control and if you take a short moment to | | | | |
| reconsider your own financial health, you | | | | Finally, now that you know how much money you |
| might be able to correct your financial | | | | have left to spend each month, budget how |
| situation today. | | | | much you want to spend each month. As |
| | | | terrible as it may seem, try to pay for |
| You will find that many people today are | | | | things with cash and with a debt card so that |
| living from paycheck to paycheck and running | | | | you are kept in touch with how much you are |
| from payday loan provider to another. This | | | | actually spending. Its so easy to flash a |
| article suggests three simple & quick | | | | credit card and then lose sense of reality |
| ways to improve your personal finances. | | | | and you only get hit with it at the end of |
| | | | the month when the bill arrives. So try to |
| Firstly, you might want to draw up a Cash | | | | remind yourself constantly about the need to |
| flow statement for yourself. This is quite | | | | avoid spending exuberance. |
| simple to do actually. Just take a blank | | | | |
| sheet of paper and draw a line in the middle | | | | In conclusion, doing a simple cash flow |
| and consider how much money you are earning | | | | statement ever so often helps to keep |
| each month and list all the sources on the | | | | yourself reminded of how your spending and |
| left and total it up at the bottom. Next on | | | | investing patterns are each month. Budgeting |
| the right column figure out how much money | | | | to save before you spend will ensure that you |
| you are spending each month, including how | | | | will retire quite well off and budgeting |
| much interest and debt you need to repay. | | | | before you spend will help you figure out how |
| Take your credit card statements out and use | | | | you want to use your available funds each |
| it to work through this section. Once you | | | | month. Remember that the more credit you use |
| figure this out, then you will be better able | | | | on consumer products which drop in value |
| to manage your own finances or at least have | | | | really fast, the most the credit card |
| a better idea about your spending habits. | | | | companies are going to make from you and the |
| | | | less you will have to spend in the longer |
| Secondly, budget to save before you spend. | | | | term. Take control of your finances today and |
| This idea is taken from many millionaires who | | | | you will find your life starting to look |
| recommend that you use auto-transfer each | | | | brighter and happier. |
| month a sum of your money and either save it | | | | |
| or invest it into some thing like real | | | | Copyright © 2006 Joel Teo. All rights |
| estate. My personal favourite idea is to take | | | | reserved. (You may publish this article in |
| a sum of money each month and use it to | | | | its entirety with the following author's |
| purchase my favourite Exchange Traded Fund | | | | information with live links only. |