With our economy currently beholden to the whims of 45 aka Trump, it’s more important than ever that we keep an eye on the coins in our purse. In the blink of an eye you can go from mimosa brunches with friends on easy street, to lonely PB&J in your living room all because you’ve found yourself short on funds. Don’t wait until the last minute to get focused, check out these simple ways to keep your money in check and maintain your finances.
We’ve all got a ‘budget.’ That figure we claim we’re going to stick to, only to breeze past it half way into the month, then on the 30th we end up wondering where the hell the money went. But if you’re ever going to get your finances straight we have to stop playing with imaginary money and start getting real. Take an honest look at your income and your monthly expenses and be realistic about how much money you can truly spend each month and where you need to cut back. Need a little help maintaining a budget? Sign up for online money management sites like Mint to keep you on point.
Look Towards Tomorrow
Often we get our paychecks or some unexpected cash (like tax refunds) and only make plans for what we need or can spend it on today, but learning how to look ahead can relive a ton of stress on your wallet. If you know the holidays are around the corner, start putting money aside. It’s winter and you want to go on a vacation during the summer, start researching your dream destination so you have an idea of how much you need to save. Giving yourself ample opportunities to plan and schedule things could make a world of difference. So this year, instead of spending that tax refund on a trip or new clothes, try using some of it to pay a financial advisor that can help you come up with a long term financial plan for your future.
If you want to get your money right, then you’re going to have to make sacrifices and save, save, and then save some more. The finer things in life aren’t cheap and emergencies can pop up at anytime so you need to be prepared. Having a well padded savings is what can make or break you during those hard times or make buying that spur of the moment flight a breeze. No matter how much or how little bacon you’re bringing home, save something! A good way to save effortlessly is to sign up for an app like Digit that checks your spending habits and moves money from your checking account only if you can afford it. Before you know it that $10 a month Digit saves you will be $1000 and you’ll be proud of yourself for sticking to your goals.