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Managing Finances & Budgeting

Managing Finances & Budgeting. Financial Records. Net Worth. Financial Progress?. Budgeting Process. 10 Simple Saving Strategies (w/o becoming cheap). Don’t become emotionally separated from your money. (Direct deposit, debit cards…make it very easy!)

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Managing Finances & Budgeting

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  1. Managing Finances & Budgeting

  2. Financial Records

  3. Net Worth

  4. Financial Progress?

  5. Budgeting Process

  6. 10 Simple Saving Strategies (w/o becoming cheap) • Don’t become emotionally separated from your money. (Direct deposit, debit cards…make it very easy!) • Understand and be honest about expense classifications. • Discretionary expenses = wants (cell phone, take out lunch, non-work clothes, vacation, gifts, movies, etc) • Nondiscretionary = needs (house, taxes, doctors, commuting expenses, utilities, gas, food, car, etc) • The time to lower your “needs” spending was yesterday. • Enjoy free stuff! • Major on the major. (more time on major purchases!)

  7. Enjoy being with people you like. • Don’t blow off the recurring minor (cable bill, cell phone plan, morning coffee, ATM fees, bank fees, dry cleaning, etc) • Spend with comfort on items or experiences you value highly. • You won’t spend what you don’t see. (automatic transfer) • Constant budgeting isn’t required.

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