Cashing In: Easy Ways To Spend And Save

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By Mia Bolaris-Forget

There’s no doubt that the recent economy is or has taken some toll on us all. And, even according to financial experts, regardless of the financial climate, the best way to weather any storm is by starting to save as early as in your teens to early 20s.

According to statistics, most ladies 35 and younger can’t account for nearly $3,000 in cash annually, spending just over $50 each week, without realizing it or knowing exactly what they’re spending it on.

But, you NEED to save for a rainy day, here’s a few ways to get you back on a fabulous financial track.

· Track your spending: Jot down everything you spend. Personally I use my checkbook to keep track of my cash outflow, but, writing it down, works just as well. See how much you start with each week, how much you are spending, and what you are spending money on. It’s a great way to see what you can cut back on and take a look at how much more you can save.

· Tighten your money belt: Don’t put your entire check in the bank or have some of it transferred over to a savings account. This automatically gives you less (money) to play with. Also, restrict how much money you take out each week or on Friday night. If you only allow yourself $50, then, that’s all you have on you, and all you have to spend. It will help you think harder about where you go, what you do and about the purchases you make.

· Put it on hold: Unless you’re out searching for something specific, put things you see, like, and want, on hold, at least over night. Give yourself time to sleep on it and think about it. If you forget about it or change your mind, you probably didn’t need it in the first place. But, if you find that you still need it or want it and it won’t drain your bank account, go back and get it. Remember, it’s important to make conscious and conscientious decisions but it’s also important NOT to deprive yourself.

Long Island Money & Careers Articles > Cashing In: Easy Ways To Spend And Save