Money Savings Techniques
By H Lee Johnson | Submitted On July 27, 2015
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Expert Author H Lee Johnson
How to save more money is a simple question that often begets a simple answer, make more and spend less. This is certainly a case of easier said than done. Just like losing weight, all you have to do is just move more and eat less. I wish it was that simple. However, it 's always harder to do because it involves changing our behavior.
More specifically, I 'm talking about habitual behavior that we all rely upon. All of us have our own patterns of behavior at work, home, with friends, family, and even in money management. These behaviors allow us to rely on prior adjustments to maintain a sense of control over our environment. Its human nature to want consistence, reliability, and even predictability in life. Otherwise, life seems chaotic and we feel out of control. This can lead to stress and anxiety.
We can all agree that habitual behaviors help make life easier, but what if some of these same behaviors are counter productive? A common example is someone who makes a good wage, but doesn 't save. We don 't want to alter the habitual behavior of
12. Describe an alternative investment that you might invest in someday, and explain why this investment is appealing to you. (2-4 sentences. 2.0 points) Peer-to-peer lending. It's a high return investment but also high risk. There are ways to invest in Peer-to-peer to minimize risk. It's a great alternative investment option.
* Create a budget- creating a budget will help you not spend more money than you have. Creating a budget will also help you stay out of debt.
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Millions of Americans do not make enough money so they cannot begin saving. According to a survey released by Bankrate.com fewer than one in four Americans have enough money in their savings account to cover six months of expenses, enough to cover job loss, medical emergencies or any unexpected events. Meanwhile 27% of those surveyed had no savings at all (Johnson 2013). On a wider scale that is roughly 80 million Americans that do not have proper saving or emergency funds. Having enough resources to being saving can be very difficult because millions of Americans live on paycheck to paycheck. “According to a recent survey by the Pew Charitable Trust, 33% of Americans families say they have no money that they think of as savings” (Sadler, A.
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Currently, I do not make serious personal financial decisions, but I do try to save any little money I have. Most of the money I have comes from my weekly allowance and gifts from various family members. I try not to spend too much money unless there are things I really need to buy, such as medicated lip balm from the winter, pencils, and other personal necessities. I also try not to keep too much money on me when going out or even at home. I make a list of all the important things I need to buy, and I check the total cost against how much money I have. Sometimes I have had to delay buying certain items because the purchase would
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Try to make a budget, it will be your blueprint for your finances. The first step for anyone wanting to take control of their finances is to make a budget. A budget will allow you to understand where your money is going and enable you to adjust your spending by designating how much you can afford. Creating a budget is a good idea for everyone, but especially for individuals with limited income. Write down your budget, with specific categories of spending, and stick to it. Start slowly by using a percentage on how much you will save versus spend. A plan doesn’t work unless you work the plan.
Most good habits have to be started now, or they won’t get started. Most good intentions don’t die from a frontal assault, but from the idea that you have plenty of time to change. As a result - you don’t change. It is not a question of knowledge, rather that of inertia and discipline.
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