Simple ways to save money

Simple ways to save money

Money
Record your expenses The first step to money saving is to identify and figure out how much you spend. For this, you will need to keep track of all your expenses such as coffee, household item, cash tip, etc. Once you have collected your necessary data, organize the figures and assign them into categories such as gas, grocery, and mortgage and total each amount.   Make a budget After you have an idea of how much you spend in a month, you can then organize the recorded expenses into a workable budget. The budget should outline how your costs measure up to your income so that you can plan a spending limit. In addition to monthly expenses, factor in expenses that occur regularly but not every month such as car…
Read More
Steps to stay financially fit

Steps to stay financially fit

Money
Understand your assets and liabilities Your net worth is determined by the debts and liabilities you own. Assets include cash, savings, stocks, bonds, real estate, retirement accounts and anything else which holds value such as cars or collectibles. Liabilities consist of student loans, mortgage, bills due, auto loans and credit card debt. Consider calculating your net worth annually by adding the value of all your assets and subtracting with total liabilities. This can reveal an overall financial picture.   Assess your goals At least once a year, review your short term, medium term, and long-term goals. Consider how much are their costs and are you on the right track to meet them. Long-term goals such as retirement traveling may not change year to year, but short-term goals like paying credit…
Read More