Wednesday, October 22nd 2014

Putting Your Finances In Order

by Connie Brooks

The current economic downturn is bringing to light lots of financial crises, On a big-business level, and an at-home personal level too.

It makes me want to sit back, and take stock of my life, and my money. It also makes me want to take a long hard look at how, and why I spend my money the way that I do. I have very little debt, and I pay my credit cards off in full each month. Still though, there are months when I put more on credit than I need to.

There are months when I spend more on food than I should, or clothes, or electronics. There have been a couple of months recently when getting that credit card bill the next month hurt a bit. So, what’s behind that?

What’s behind it for you, when you do it? Will you tell me?

Even though I care for my credit score, and manage my money well enough, the finer points of budgeting still seem to elude me. I’ll set a number for something (Christmas for example) and then that number flies right out the window when I shop.

Maybe it’s worthwhile to revisit some of the basic tenets of money management, especially when it comes to credit cards. From now on, before I spend any money (on credit or not) I am going to ask myself the following questions:

  • Why am I ing this item?
  • Can I afford to go without it?
  • Will I miss it or even remember it if I do not it?
  • Do I have something else I could make do with instead?

With the holidays coming up fast, I need a checks-and-bounds system for gifts too. If it is an item for someone else, I am going to look at it this way:

  • Will the person really like this item?
  • Why do I want to give it to them?
  • Could I get them something else that they would like just as well, and spend less on it?
  • Am I trying to impress them with the gift, or does it really fit who they are?

I am also going to try to complete my Christmas shopping in early December, so that I do not get stuck rushing around at the last minute trying to find something, anything, to give someone that I forgot.

If I have learned nothing else about money, I have learned that given a little time, thought, and preparation you can save yourself a lot of trouble, and money.

The articles below all deal with managing different aspects of credit, and personal finance. I really enjoy looking through my feed reader each week, visiting favorite blogs, and discovering new ones. I hope that you enjoy these articles too!

Holiday Shopping

Shoring Up Your Finances

Carnivals, Festivals and Celebrations:

That’s it for this weekends thoughts, and links. I hope you have a wonderful weekend!

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