Peace of mind with your finances and life.

Document created by teresao on Nov 11, 2015
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Peace of mind with your finances and life.

Going to college and managing your finances can be very challenging. You may be a single parent like myself with work, school, and other responsibilities and you can find yourself in a crunch in no time. What I did to help me have success with my finances is started to listen to money management CD's. They are available at any public library. It helped me to allocate amounts to different things.  Starting with your four walls. Which are Food, Shelter, utilities and transportation.  After that you set aside a percentage for emergencies  so that goes into your savings and for things like debt and start paying them off. I started using snow ball effect. Once I had one debt paid I used the money from the paid debt towards the following debts. I can happy to report that I am now debt free. I also used something called the envelope system to help me be more disciplined. For example I took out cash what I would spend out on fun for the month and once that envelope was empty then I would have to find things to do that did not cost. I felt that doing things this way you don't deprive yourself as you are trying to get out of debt but you have more control of your money. Now I have a budget I subscribe to online that helps me track my expenses and where my money goes. Every month the very beginning I pay off my bills and assign where my money is going to be spent and how much. I can double check how well I did at the end of the month and try to adjust the slip ups to keep improving.  I recommend listening to Dave Ramsey online. He has a budget you can do for free. It’s called every dollar. It really helps to have a place for every dollar you have and you go from money controlling you to you controlling your money and having peace of mind.

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