The money is like food. It can do good, and it can be worse. Everything depends. If you can control and practice the right diet and exercise, then you will achieve optimal physical fitness. If you can control your money with the right allocation and expenses, you will achieve optimal fiscal fitness.
Usually, I will write articles about sports and loss of fat. However, I found that if you run out of debt (or in the process of out of debt) then you will be financially stable and financially responsible. There are many similarities between weight loss and out of debt.
When you start continuing to practice the habit of losing weight and getting yourself healthy, the habit will seep into other regions of your life including your financial welfare.
From my own personal experience, when I lose weight and formed, I noticed that I began practicing the same habit to get out of debt. Thus, there is a strong correlation between physical fitness and fitness fitness. Here are some ideas that I found to help me get out of debt:
• Learn to live with a monthly budget that has been planned beforehand. You have to plan a month beforehand on how you will spend your income.
• Try to use an envelope specifically marked to pay your regular fee. You can mark envelopes as food, gas, personal money, restaurants, etc. You want to minimize the envelope marked in general (eg. Misc. Costs) because you want specifically about your expenses.
• When you go to a grocery store, you must stay in the outer hallway. Outdoor alleys have vegetables, fruits, dairy products, etc. Items are expensive (and unhealthy) such as cookies, soda, chips, etc. It’s in the inner hallway.
• When you go to a grocery store, you must use the list and stay on the list. You must minimize bringing your children during grocery shopping because they can add items in your food basket. Also, you shouldn’t shop shopping when you are hungry.
• You must eliminate (or at least minimize) eat at the restaurant. You can set goals to avoid restaurants until you pay off all your credit cards. Personally, I found that this was one of my biggest monthly fees.
• You must use only cash (even minimizing the use of debit cards). There is emotional attachment that is stronger when using cash rather than just shifting credit cards. Cash will empower you to spend wisely.
• When paying off your credit card, you must pay a smaller balance first (rather than a higher interest rate). Personal finance is more personal than finance. This is more emotional than logical. You must have an emotional victory by paying off a credit card. This will improve your fiscal fitness.
• Save an emergency cash $ 1000. You can start with $ 500 then build it to $ 1000. It is used for emergency purposes only like Deductible insurance, etc. Shopping in the mall for “great sales” does not qualify as an emergency.
• If you rent a car, you have to check and see if it makes sense to get rid of the rent. Leasing makes you full of money obtained with difficulty.
• The house is not necessarily an asset. It might not be feasible for many people to buy a house. As a real estate broker, it will be profitable for me to sell houses to people – even those who can’t afford it. The reality of the situation is that many people cannot afford home. There are so many other expenses related to home including property tax, insurance, homeowner association fees, etc.