Tips to Help You Stay on Track!

Helpful tips to managing your budget

  • Barter - Save money with bartering (trade your talents for goods or services)
  • Coupons – save money by using Coupons (You could save hundreds of dollars with coupons)
  • Eating Lunch – Save money on eating out (Maybe you should bring lunch instead of eating out)
  • Entertainment – Save money on entertainment (Cut back going to concerts, shows, events, etc.)
  • Hobby’s – Save money by cutting back on hobbies (You should be able to cut back on hobbies)
  • Negotiating - Learn how to negotiate (in most cases not every price is set in stone)
  • Part-time job - A part-time job (A part time job will give you opportunity to earn extra money)
  • Reading Books – Save money with the library (Go to the library for books rather than buying)
  • Shopping – Shop at discount stores and wholesale clubs (You will save money using these stores)
  • Yard Sale - Have a yard sale (Get rid stuff you do not need or are not using)

Banking Management Tip

It is very important to always know your bank account balances. You should set up alerts so you are notified before your balance falls below a preset limit. A good rule of thumb would be to never let your operating checking account balance fall below $100.00. Since you know your threshold you make sure you do not spend more than your balance. If you spend more than you have you may have payments bouncing and will probably have to pay overdraft fees charged by your bank. Also if you have overdraft protection this is like a credit loan and you will probably pay a usage fee and interest until the balance is paid.

Bill Payment Tip

You should use be using a bill pay system from your bank, you can send out all your monthly payments to your creditors and vendors without having to write a check and mail out the payment and it will create a record of your payments. Most of the payments will be sent out electronically and you will eliminate the chance of ever being late unless you authorized the payment late. It can also be used as another tool to organize your expense records. You can also schedule automatic payments of recurring bills like mortgages, car payments, installment loans, etc. to avoid expensive late fees. You will also save the amount of postage each month since the banks offer free bill payment service.

Credit Card Tip

If you want to use your credit card to keep track of your payments and it is easier than carrying cash you will need to be discipline and move the amount you charged to your credit card bill payment account. You will also want to avoid paying interest on your credit card purchases. You can do this by paying off your credit card monthly. Your credit card has a grace period on new purchases and to take advantage this grace period you must pay your balance in full every month.

Debit Card Tip

By using your debit card instead of cash for transactions will give you an electronic record of what you’ve spent. If you use your debit card for most purchases, you can track your spending through your online banking account. But it is very important to login to your online banking account and make sure you enter your debit card charges into your spending journal. You still need to keep track of your spending to make sure you are within your budget spending limits. It’s just a great way to keep track since it might be tougher to keep track if you use cash and have to save and find the receipt to enter into your budget spending plan.

Impulse Spending Tip

Impulse spending is a big accumulator of debt. It only adds to consumer’s debt as an impulse purchase is usually made on the spot and not thought out if you really need the item you are purchasing. You should try to figure out what your main impulse purchase are and force yourself not to purchase you will be surprised at your savings.

The Budget Spending Plan features include;

Free online budget spending plan - No upfront or Monthly Fees!

It's Simple and easy to use!

With the budget spending plan you can store your budget online you can work from anywhere at any time. So you can you can use it and access it whenever you like via the internet. You can manage your personal budget from home, work or any other place and it's always saved and updated automatically.

You can keep track your actual spending on a daily, weekly or monthly to see where the money goes.

The great thing about the budget planner is that it very flexible, you can build your personal budget and select only the categories you need.

The budgeting plan includes reports that will help you understand your finances and spending habits. You find out exactly where you are overspending!

The budget tracker is the tool you enter how much money you actually spend. You can also enter notes on each time you spend money the spending details.