Money Management Tips

by - 3/19/2020 12:00:00 AM

Growing up my parents just really didn’t have any clue about the money they didn’t have a plan they would just spend to spend. I, however, knew when I was old enough that I really wanted to learn and try to master what to do with my money and where my money was going. it’s so easy to come up with so many excuses as to why you are not meeting your financial goals. But I’m more so look to find results. The tips am sharing with you today our tips that I use on a regular basis if not daily basis to help me with executing my financial goals. It's so important to get started somewhere, start small and don’t overwhelm yourself with taking on a project that you’re not mentally financially physically ready for. I always encourage my followers and readers to create a plan for themselves and when they have that planning create weekly daily monthly yearly goals.  

Money Management Tips

Know Your Money Priorities. Before budgeting, you need to determine your priorities. ...
Determine Your Monthly Pay
Whether your freelance writer or a corporate America or executive. It’s so important to know what your monthly take-home income is sit down and write down your monthly income if you're income varies from each month right down the lowest income that you had in the last 12 months.

Track What You Spend 
It’s so important to know where your money is going. Track where you spend your money, do you spend your money mostly on frivolous items? do you spend your money mostly on travel do you spend your money mostly one bills? figure out what you spend your money on. 

Have a Plan – Any Plan
My favorite quote is "a goal without a plan is just a wish" have a plan, any plan know where you want your money to go how you want to spend your money and wherever your money in the next year's months or even century.

Stick to the Plan
It’s so easy to create a plan but it’s also so important to stick to the plan and what you create for your money. What I typically do is on a weekly basis is always review my plan to ensure that I'm on the right track. Don't just create a plan. Actually, implement your plan as well. 

Expect Emergencies
Whether you’re a homeowner or have children, expect emergencies and plan for them. It's so important to have an emergency fund, and plan. Your goal should be to create an emergency fund and save at least 1K. 

Save Early and Often
The holidays just past is never too early to save it is so important to save often one of the first things that you should do is pay yourself first when you do receive any type of money and when I mean by paying yourself first I mean save. For some, it's easy to have multiple accounts and deposit a small amount in those accounts on payday, some prefer to only have one savings account. Do what works for you. 

Take Advantage of Free Money
So many banks have so many great incentives for open an account figure out if that’s the best route for you also look into your current bank interest rate could you start a new account with another bank and receive more bang for your buck?

Do you have any money management tips? 

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  1. Yup, so important! I always put money back in savings because you never know. Especially in these crazy times!

  2. WE NEED TO STOP eating out so much. UGHHHH! Drives me bananas. I love eating at home but my husband HATES IT SO MUCH so he tends to win. But I have really been putting my foot down and telling him that he's ON HIS OWN to find food he wants to eat because I am eating AT HOME.

  3. I've always been a planner and money is no exception in that sense. These are great suggestions.

  4. These are some great ideas but in these hard times we can all get sidetracked. I know my savings have dwindled but we all have to have faith that things will come back as they have before.

  5. These are great tips! Having a budget makes it a lot easier to say no to things you don't need, and also save for what you really want.

  6. These money management tips are really helpful. It's really essential for us to manage our money and spend it wisely.

  7. I spend a lot of money these day for emergency. It's a little bit hard to stick to a plan. I think I need a new plan for this situation!

  8. These are all great tips to take into consideration. It is good to budget and save, now even more than ever.

  9. These are lessons that I take to heart and teach to my children. Thank you for sharing!

  10. These are some really good tips. We always watch what we spend too. I am really good at being careful, and I don't like to spend money unless I need to.

  11. These are smart tips. I think saving enough is so important nowadays. We never know when there's an emergency and we need to use some savings.

  12. Money management is important nowadays Thanks for these tips it is really important during this time.

  13. These are all great tips! I know most people groan when you mention a budget (or plan), but I've found it to be such a freeing thing. No more fighting about money, stressing about money, etc. It has really been helpful in my marriage to have a budget.


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