More Financial Tips

written on September 19, 2008 in Tips & Tricks

I know I just wrote about my credit card dilemma and offered a great site for picking out the right swipe for you, but today I’d like to share another site with more general information on how to consolidate debt and… save money!

As of now, debt isn’t a problem for me because I still have my parents around to clean up my butt should I get into any financial mess (followed by a long lecture about carelessness and lack of responsibility afterwards), but it’s important to build up good financial habits now so that when I do become completely financially independent, I don’t find my self drowning in a shitload of debt and unpaid bills. D: Especially with the US economy currently at its bottom low, with umemployment sky high, finding a stable and decent-paying job gets harder than ever. This makes it all the more important to learn how to save and spend money wisely.

One of the most important tips mentioned in that site is establishing and maintaining a personal/household budget. It really helps out a lot if you’re constantly aware of the money you have available versus how much money you’re spending. I’ve made a habit out of writing down all my purchases and deposits, and it has cut down my spending by over 50%. My American Express statement used to contain at least 10 items, but now it barely reaches 5. If you’re a major credit card user, it’s especially important to keep track of your spendings since it’s so easy to spend more than you can afford. Damn them for giving us such a high credit line when we can’t afford it. D: Error processing request