Make Your Money Work for You - Not the Other Way Around

It has not been that long since the holidays were here. Therefore, you are probably still suffering from some of those bad money habits you picked up during the Christmas season, such as spending more than you were saving due to gatherings, gifts, etc. The time has come to start staying goodbye to those unhealthy financial habits and hello to getting your money back on track for 2016.

Take Back Control!

It probably seems like you hear this word over and over and over. But really, a budget needs to be in place for reasons just like this. Even if you feel like you do not need a budget, put one together anyway. It is good to just see on paper where every single dollar goes. While bills—such as lights, water, rent, etc.—might always be the same amount every month, there are things you may not realize you spend a lot on in a month—like eating out, movies, coffee, clothes, gas for your vehicle, trips, etc. You might actually be in shock once you see those numbers down on paper.

As a society, we have also grown accustomed to using a plastic card instead of cash for our purchases. Plastic is not a bad choice, but it can sometimes be tempting to swipe a little too much. Switch it up a bit by using cash, too! Give yourself a certain amount of cash each week. Then, once the cash is gone, you know that you have to stop and wait for next week to roll around before you can make any additional purchases.

If you would rather stick to your plastic card instead of cash, put a post-it around your card that says something along the lines of, “Are you sure?” This way, you are forced to question and double check your account balance before you purchase.

By taking back control of money using these simple steps mentioned above, you can feel less financial stress this year knowing that you know exactly where every dollar and cent of your money is going. No bad financial surprises this year!