We all have to start somewhere. I no longer want to live paycheck to paycheck. What can i do today?
It is a simple exercise…write out your expenses for the past 30 days and the next 30 days. Bills, food, transportation. Everything! This exercise is simply to find out where your money is going. Down to the penny. This exercise should be put on paper.
Next step, look at your bills and think what can I reduce or eliminate. For example, can you call your cell phone company and negotiate a better deal? Can you go without cable? Can you reduce your cable bill? Can you live on netflix? Can you refinance your car?
Next, look at your food bill! It is imperative that you know that eating out will eat a hole in your finances. If you get your food expenses fixed to a concrete number, the savings will multiply. (Our site will build upon the articles already published. We will have future in depth articles on budgeting in the near future)
You get the picture. Those savings can be used for all kinds of things to enhance your life. It can be sent to your emergency savings/rainy day fund. Paying off credit card debt. Getting ahead on your car note. Depending on your financial situation, these savings can go towards investing.