Staying on the right track with how we handle our money is important to our financial health. Our motivation to improve our finances is what gets us started on the right track, but it’s our habits…good money habits, that will keep us there. As we know, habits can be good or bad and depending on which habits they are will determine our results in any area of our life. So of course, no surprise here, the same holds true for our finances. If we don’t have good money habits, we need to instill them by coming up with a plan and repeatedly following through with that plan in the small steps that we take. Our money habits will be formed and the results we receive will all be based on what we repeatedly do with regards to our money.

How Do You Handle Your Money?

One of the most basic, fundamental things you can do to improve your financial situation is to conserve money. By consistently following some money saving tips you’ll start to see a considerable increase in the amount of cash you save. That savings can be used toward paying down debt, saving for emergency funds, saving for a vacation get-away or for investing, depending on where you are in your journey to financial freedom.

Setting up a personal spending budget at the start of the week or month and staying on top of it by reviewing it on a consistent, regular basis to make sure that you stick to it, is the glue that holds your finances together. No matter how much you want that specific designer hand-bag or that recliner you’ve been wanting for the living room, the key is to not budge!

“Success is fueled by being persistent and consistent.”
― Franklin Gillette

Saving money and budgeting does not imply that you dismiss the things that you want. It only means you plan for them over time for which your budget will allow. This will also prevent credit card use by spending cash that you have instead of spending on credit, which could have the potential of putting you more into debt. Anytime you go shopping you should have a list to prevent impulsive purchases as much as possible. If and when possible, purchase items in bulk to get discounts.

Also, be open to purchasing used items which you can find that are almost unused and seem just like new. Manage your entertainment spending budget by dining out less. Rather than spending on movie tickets and expensive movie snacks, have a fun movie night at home by renting a movie and having microwave popcorn. You might be surprised how seemingly little adjustments can make such a huge impact on your finances.

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