When you write down your budget and you look at all of your expenses think about ways to trim your expenses. the easiest ones are those you have the most control over like cable or a cell phone. each year i call my provides and ask for the current specials. i leverage the fact that i pay my bill on time and that i’ve been a loyal customer...some how this always work and i bank the savings!💫 #expensecutting #theartofnegotiations #wealthbuilder
Budgeting 101: 🗣pay yourself first💫
always, always, always pay yourself first. whether it is through your 401k, hsa, ira or a traditional savings account pay yourself before you pay anyone else.
now, the amount may be small when you are just starting out but you must get in the habit of saving something for later. #savingsfirst #mymoneymatter #wealthbuilder
That’s it! that’s how simple writing a budget is...knowing the difference of your income and expenses.
budgeting is a tool you use to measure where your money is going. nothing more, nothing less.
tracking your income and expenses are important because it will show you where to make cuts or add extra income to reach your goals.
start a budget today as a way to begin your wealth journey!💫 #budget #budgetbasics #wealthbuilder
Yes, credit cards are an excellent way to build credit but relying on credit cards as a way to manage your finances is not wise.
when building your credit you should use no more than 30% of your available limit. and, you should pay off the balance at the end of each month.
unless it is an emergency, you should never pay interest on a credit card.
In order to have true financial stability you will have to rely on cash not credit! if you are just starting your financial journey the first step is to set up a budget, pay all of your bills on time and then look into building your credit as a next step.
having a $1000.00 in savings is more important and valuable than having a $1000.00 credit limit on a credit card.
remember: having your money work for you should be your focus. having one bird in hand is worth more than two birds in the bush!
Doing the same things over and over is like being on a “hamster wheel” with no way of getting off.
at some point you will need to make a decision to make your exit. it’s your life, your choice and ultimately your decision to change.
hamster wheels are effortless, a waste of your time and are exhausting. you will have to make the decision to change, and live your best life.
if not, the “hamster wheel” is waiting!
#yourchoiceyourlife #hamsterwheel #exit
Yep, it’s true!
if you do the same things you’ve always done, you should expect the exact same results every time!
in order to change directions you have to have a plan and put forth an effort.
if you have a goal you want to meet, you’ll have to come up with actionable steps to meet that goal. just assuming it will happen without putting forth an effort will not work.
so, if your goal is to save a $1000.00 in 6 months the actionable steps are to open a savings account and save $167.00 a month.
if your goal is to improve your credit the actionable steps are to review your credit report and come up with strategies to improve your score.
consistency is important and a plan is vital to your success.