Imprint Legal Notes Home Finance Business Digital & Technology Economics News How to Start Managing Your Money Written by Eric on 08/20/2016 in Finance Managing your money can be overwhelming, but it doesn’t have to be. Follow these 3 steps to get started. 1. Track Expenses You can’t manage your money if you don’t know what you’re spending it on. The best way to start managing your money is to find out where all of your money is going. Track your expenses for an entire month, writing down every dime you spent and what you spent it on. At the end of the month, group your expenses into categories and tally up your totals in each, for example, gas, groceries, rent, eating out, etc. 2. Set Goals With your monthly totals in hand, look for areas where you can cut back. Wasteful spending could be hiding anywhere, in monthly services you don’t use, extra premium channels you don’t watch, or simply spending $400 eating dinner out, while only spending $100 on groceries. Look for areas with unreasonable spending and set goal amounts you’d like to stick to for the next month. Look for ways to maximize the purchasing power of every dollar. 3. Follow Through After you’ve set financial goals for the month, make those goals a reality by tracking your spending as you go. Remember to stop spending when you’ve reached your monthly limits. Managing your money is probably one of the most important skills anyone can master. Follow these tips to gain more peace of mind, and more money in your savings account. Share this: Facebook Twitter Email WhatsApp LinkedIn Recent Posts What’s The Best Personal Finance Book? IFTTT Recipes for Saving and Managing Your Money Should You Finance a Car? Budgeting Software: Mint vs. You Need a Budget Recent Posts in Digital & Technology Budgeting Software: Mint vs. You Need a Budget Five Personal Finance Tools Recent Posts in Tax & Law What’s The Best Personal Finance Book? IFTTT Recipes for Saving and Managing Your Money Should You Finance a Car? Budgeting Software: Mint vs. You Need a Budget Recent Posts in PR & Marketing What’s The Best Personal Finance Book? IFTTT Recipes for Saving and Managing Your Money Should You Finance a Car? Budgeting Software: Mint vs. You Need a Budget Copyright © 2021 WNBONLINE.COM Designed by WPZOOM