MoneyWise-Building & Maintaining Good Money Habits
What do you want to do with your money? Go shopping? Check out a movie? Buy a new car or purchase a home? Or maybe you want to just spend, spend, spend. The way you manage your manage money will decide if you get to do all or any of those things.
Good money management is a habit and habits are not developed over night, so start now!
-Establish goals both Short-term & Long-term. Determine how much it will cost.
-Determine where you are now. Calculate your net worth. Add up assets and subtract liabilities which gives you your net worth. Be honest!
-Track expenses for at least 4 weeks. Every single penny.
-Pay yourself 1st. At least 10%. If 10% is too much right now, set aside as much as you can and aggressively work toward saving 10%.
-Learn to say NO!
For more assistance please contact us at 205-251-1572 or visit www.gateway.org to schedule a appointment with certified financial counselor and ask about our financial coaching program. No matter your financial situation, big or small, we are here to help!
Posted on Tue, April 10, 2012
by Karin Park