Managing your Money

If we adults were still in school, many of us would get an F in managing finances but the truth is, we didn’t take the class in money basics so we don’t know how to manage it.  When you get your tax refund, what do you do with it?  Do you spend it all or do you put it in a savings account and pretend you never go it?  You can put it toward investing also and either way, your money will work for you.

Some people manage there savings by setting up an automatic withdrawal to go from checking into savings. In this way you fool yourself into saving and you will be living on less because you feel you have less to spend.

Learning to avoid those unnecessary fees that are charged by ATM machines and late fees as they all add up to a tidy sum over the year.  If you happen to need to rent a car, don’t get talked into the insurance fee is you have coverage on your regular car insurance.  This would certainly be a waste of money and we are talking almost $30 to insure a rental car for one day.  Another money management idea is to always buy on sale and never pay retail prices.  Mail order catalogs are another temptation to use your credit card, toss those magazines.