Are you financially prepared for your future?
Finances are extremely important in every aspect of our lives. Many people think they have them under control, but we all could make some improvements. I was reading (at least 30 minutes per day) a finance article and I saw a statistic that 38% of Americans have less than $500 in their emergency savings fund. This raised the question, why? In this week’s #CJJblog I want to give you some tips on how to turn little tweaks in your everyday life into a more financial security. Please comment below with any tips that you may use as well.
- Pay yourself first. This is a simple way of telling you to save every chance you get! When you are fortunate enough to make money, you should always set aside a percentage for yourself. How much do you save?
- Stay out of credit card debt. Credit cards and finances can have a shaky relationship, if you are not careful. It is beneficial to utilize credit cards, but make sure to pay down the balances as soon as you are able.
- Use cash more often. It’s an amazing concept to pay with cash in 2017. It has now become the outlier and sometimes you can even save money or get a discount doing so. It’s more painful, but seek out benefits and pay with cash when appropriate.
- Be smart with your credit cards. Personal finances can get out of control quickly if credit cards are not managed in a cautious manner. Pick the right spots and pay them off quickly. How do you handle your credit cards?
- Keep $100 bill with you at all times. This comes with two benefits; the good personal feeling of possessing a $100 bill, and developing the desire to never want to give it up. You become very careful with your finances. When was the last time you had a $100 bill?
- Keep money organized. This helps you think of money in a new way. You will learn to care for your finances.
- Save loose change. Pool your loose change together to form an emergency fund. You can save little by little, think nothing of it, and one day have $500. Do you save your loose change?
Did You Know? Coach Jim Johnson is aiming to show more gratitude and is having the team at www.gratefulbox.com help him out! Head on over and check out their creative ways to show others your appreciation.
Life Tip #5: Tithe at least 10% of income to worthy causes
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