In an effort to encourage myself to follow my own financial advice, and maybe even help my dear readership (all 5 of you) in the process, I'm starting a financial fitness Friday on the blog. The goal is to post a financial tip/fraud alert/etc. every Friday. We'll see how long it goes.
Todays tip is a basic one, folks.
Spend less than you earn.
I know it seems simple, but unless you master this concept, you will never, ever get ahead financially. This is easier in theory than in real life, and I know that. So, if you are struggling, start small. Begin next pay check. When you get paid, put a little bit of money aside in savings (even $5 is a start). Then, go the whole pay period without using your overdraft, credit card, pay day loans, or taking out a new loan. Pay your bills as you normally would. You are spending more than you earn if you need to delay paying a bill to be able to do this. Good luck, and look for another tip in a week :)
8 comments:
I'm excited for your Friday financial tip! There are few things I get passionate over, but finances exercise, & cooking definitely top my list! I wish everyone could spend less than they earn. I truly believe the economy wouldn't be struggling as much if everyone lived by this simple rule!
You are so very right. Greed is the whole reason the economy is in shambles right now.
Great advice. Another of my favorite blogs just addressed the same thing! I love the skit she has from an old Saturday Night Live. I wonder how it would be received today. See http://hamantics.blogspot.com/2009/01/we-joined-how-about-you.html
Dude! Right on. Isn't it amazing how people feel it's their right to charge it on the credit card? There are some people that I'm close to who just aren't understanding this simple rule of economics/ banking... and I'm starting to lose the patience. It really is a simple rule... don't spend more than you have. Easy Peesy. But not for many.
LOL... this is the number one topic I rant and rave about FOREVER! I drive my husband crazy with it! Needless to say there are many in my life who need this financial advice.
Love Nichole
ps. I left a comment two blogs down!
Woohoo I am so excited to hear more financial advice! :) Thanks for spreading the knowledge around!
I like your tip! I just read this book "the 4 laws of financial success" and the 1st law is to track your finances. I do this by writing down everything I spend. Even if its just 50 cents. I love knowing where all of my money is going.
Thank you for commenting on my blog! I am in Salt Lake often and there are a bunch of locations I would love to use. Just let me know when you and your husband have some time.
I'll be in that area for sure on February 17th and a couple times in March but I'm not sure of those exact dates yet. talk to you soon.
I agree! My only problem in this little issue is when the big things come up, like a new transmission. I hate sucking it in and borrowing, even for a few months.
Just wanted to say a quick thank you for everyone's comments. Not only does it make me feel all warm and fuzzy inside, but it helps me see what good topics for tips might be. Keep the comments coming. And, if there is anything you've been wondering about finances, feel free to ask. I'll do some research, and hopefully get and answer within a few Fridays.
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