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