10 Ways to Manage Your Money Better

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10 Ways to Manage Your Money Better

  1. Learn to cook. Eating out is luxurious. Making your own food that will save you a ton.
  2. Auto-deposit a portion of your paycheck into savings. Automatically save money in every month. If you do not see it, you will not think you can spend it.
  3. Wait a week to ponder big purchases. Avoid impulse buys. Ask yourself, if somebody came up to me and offered me the cash value of this item or the item itself, which would I take?
  4. If you do not have cash do not buy it. Do not buy something unless you have the capability to pay for it in cash right then and there.
  5. Only buy a used car. Latest cars decrease in value greatly in value once driven off the lot. Do not buy new car.
  6. Do not be anxious about keeping up with the Joneses. You do not require the newest gadgets. Remember, it is better to be anonymously rich than deceptively poor.
  7. Avoid bad debt. Keep away from debt for anything other than school or a home.
  8. You have build credit, but never carry debt. Acquire a credit card to set up credit, but always pay it off before the end of month.
  9. You have know the sensitivities in your cash flow. It is important to pin down which items – for instance price, volume, or overheads will have the most force on your cash flow.
    Cost of goods sold, such as, has a considerable impact on your cash flow, and yet is complex for you to change. Simultaneously, aggressive pressures may avoid you from increasing prices.
    Cash flow is also affected by the inventory days and accounts receivable days.
  10. Know where your money is going. Track your spending (check out mint.com).
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