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25 Apr

Budgeting Tips


Posted by: David Lloyd

1. Focus yourself on Savings

        Use the 10% rule – Put away 10% of your earnings

2. Use Cash for all spending outside of bills.

         Take out cash at the beginning of each week and that’s all you get.
3. Reduce bad habits
          Smoking, Alcohol, Gambling, etc.
4. Share Responsibliity
          You want EVERYONE in the household on board
5. Paydown debt
           Debt is like an anchor!

6. Keep all receipts

            Coffee, Groceries, Gas, etc…

7. Analyze your spending

            Prioritize your purchase

8. Consult a Certified Financial Planner- CFP

            A CFP will help you build wealth based on your goals

9. Be Flexible – Don’t get frustrated

            Life is unpredictable. Costs will pop up that didn’t see coming