Have you been thinking about how you will change your spending/saving habits in 2009? I have. I like to think I have always been careful, but there is always room for improvement. And with the economy situation, there are more and more people saying they are living on a 'budget.' I remember talking with a friend a few years ago who told me that then was the first time ever they were living on a budget. I was amazed...doesn't everyone always live on a budget? I think everyone should...because if you don't you could get into some serious financial difficulty.
- Sit down and evaluate your spending and saving habits. Write everything down...be specific! Decide on what you want to change. It is always a good idea to save more than you spend. Also to pay down debt load every month.
- Set up a plan to make the change happen. Once again, you must be specific. Write down how much you will spend (on groceries, clothing, debt, etc) and stick to it! Also be specific on how much you will save every month. Always save something, even if you can only save $10 per month. Something is better than nothing.
- Decide on your plan of action. Dave Ramsey has an envelope system many people like. You can also use money management programs like Quicken. I use Quicken and I love it. There are many other ways to budget your money. Pick one that works for you and your family situation.
- Don't get discouraged! As the months go by you will get in the habit of spending less and saving more.
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