TIPS TO GET YOU STARTED

Get organized Record all of your spending so you know where your money goes and where you can cut spending. Fact: spending $2.50 a day on coffee costs you $912.50 a year Identify your short-term and long-term goals, and build saving for them into your budget For example, a short-term goal could be buying new furniture. It is also important to start saving early for long-term goals like retirement. Divide your expenses into two categories: things you need, such as groceries, and things you want, such as tickets to a concert Your “wants” will be the areas to target for money that can be used to pay down debts or increase savings. Make “being debt-free” one of your goals List all your debts and the interest rate you are paying on each of them and track your progress in paying them off. Pay more than the minimum payment on bills whenever you can Even a small increase in payments can make a big difference in the amount of interest you pay and how long it takes to pay off your debts. Stick to your plan

#tips #to #get #you #started #saving #debt #free #goals #payments #bills #plan #mortgage