Archive for January, 2012
6 Steps to Saving Money
January 13, 2012 on 12:00 am | By admin | In Uncategorized | Comments OffIn this economic climate you sometimes have to pinch the penny so hard Lincoln’s head will scream, but even then it can be tough knowing what to do and how to save.
Step 1 – Deal with debt
Get a feel for the weight of your debt. You can look into debt settlement when it comes to unsecured debt like credit cards, medical deb and unsecured personal loans.
Step 2 – Establish some goals
Got a video game you want to buy? How about a house? Figure out how much you need and start putting money away for the task at hand.
Step 3 – Figure out how much time it will take
Want to buy a house in the next two years? Figure out how much time it will take and stick to your plan.
Step 4 – Keep a record of your expenses
Decide how much you are spending on the essentials and how much you are spending for leisure. Maybe see about adjusting the numbers to work toward your goal.
Step 5 – Credit card discipline
Credit cards are to be used for emergency purposes from here on out until you get your debt under control. We’re talking mortgage payments, student loans, anything pressing that you have no other choice but to pay.
Step 6 – 10 for you!
One of the easiest ways to accumulate and save is to simply take 10 of your paycheck and put it into savings.