My Personal Financial Life Style

* 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.

Make daily, weekly and monthly budgets and stick to it faithfully. Your expenses for food,

Cut back on general living expenses now, save the difference, and get used to a smaller data plan, last year’s fashions and fewer cable channels. It is easier to make small changes over time than deprive yourself all at once. Consider each of your monthly expenses and

Learning how to live on one income can be extremely challenging. The best way to deal with living on half the income is to set up a good budget. A budget is a roadmap that keeps your spending on track. The main reason people overspend is because they aren't aware of their finances. Write down your incoming and outgoing expenses. If there isn't enough money to cover your outgoing expenses, you may need to seek additional employment.

Take an honest look at what you're spending. Do you really need a gourmet coffee every morning? Is cable tv that important when you can easily stream a ton of entertainment choices with your high speed internet? Consider where you can cut back, then do it. Apply every dime that you save to building your emergency savings. Watching the numbers grow is the best motivation to keep going.

The results of my Personal Monthly Budget demonstrated that my income does exceed my monthly expenses. Monthly, it is between 100 and 400 dollars because I am a student and I work part time at my minimum wage job. I am mainly supported by my parents who put me on a strict budget and require me to stick to it. It is not enough to live by because costs of living, food, and utilities are more than $400. If there is anything I want to purchase for leisure, I must pay for it myself and that causes my savings to decrease.

Also, consider ways to bring home more money, if the expenses are difficult to pay each month. Producing more income is less stressful than facing the challenges of living with limited earnings. Study the options of working overtime, or turning a hobby into extra cash.

Stop transferring money out of or stop withdrawing money out of your savings account as often. Keep your money in your checking account if you need to withdraw it or transfer it that often. Try planning ahead to ensure you do not move money from your savings account as often as six times per month. Better still, withdraw a larger amount at one time so you do not have to keep dipping into your

To reduce your living expenses, consider using coupons when purchasing groceries. Also, make a menu and a list for each grocery shopping trip. This will reduce the desire to buy things that you really do not needs.

My lists are relatively short. As I am a bargain shopper, name brand items are not my splurge of choice. I am willing to live without name brand items, fast food, unnecessary goods or snacks, and most luxury items. Save, of course, my phone and appliances. Similarly my list of wants is relatively short. As I am a college student, one who is fortunate enough to have a car, a house is certainly not on my list. Instead, I would like to be able to live comfortably, and have enough to travel home to see my family. My list of ways my money is slipping away would be mostly snacks. I love eating.

Start by taking a look at your spending and discovering ways that you can cut down your costs. You should also consider downsizing and selling some of your unnecessary items. This is also something that can help you to ensure that you have the necessary funds available to prepare for retirement properly.

Many people are finding themselves in the situation of having multiple credit cards with thousands of dollars of accumulated debt. If you are paying on multiple credit cards, develop a strategy. Set aside the amount of money you can afford to pay for credit card debt each month. Divide the amount by the number of credit cards, putting the largest amount towards the card with the lowest balance. Once you have paid one credit card off, dedicate the largest amount of money to the card with the next lowest balance.

Ask yourself how much can you afford each month once all your monthly bills have been paid?

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.

Part-time holiday jobs count as one of the best ways to manage debt that there is. For one thing, your holiday-season job gives you the cash you need to pay for your Christmas gifts. However, it has an added benefit. If you work two jobs - one for 40 hours a week and one for 20 to 30 hours a week - during the holiday season, you'll have less time to spend money frivolously. And if you plan on shopping during online sales days like Black Friday and Cyber Monday, you can save money and your aching feet at the same time.