As we exit the old year and get ready to enter the new, I personally have a few resolutions of which I have been thinking. I guess one of the main ones is to be a better manager of my finances in the coming year. I have been lousy over the past year and am way over my head in debt. I feel like it is about time to buckle down, tighten up, and attempt to get my money situation under control. I am going to give five things that I am going to do to try to accomplish this goal. Maybe they will be some things that Will help others that are facing financial woes.
The first thing that I am going to do is a very simple one, and it is as follows. If I really don’t need it, I am not going to buy it. Sounds simple doesn’t it. It may sound simple but it is not always the easy thing to do. With credit cards it is very easy to see something, want it, and then call in the cavalry, “Charge!”. That is very easy to do. I am speaking from experience. But I am going to try to make it a point to ask myself this question before I buy, “do I really need this?” If the answer is no, then I am not going to buy.
The next thing that I am going to do is to not use my credit card to make purchases if I don’t have the means to pay for it. In other words, before I make a purchase (excluding emergency’s) I will need to know that I have the money in the bank account to buy that purchase. I have in the past made purchases without having the money in the bank with the mindset that I would pay for it the next month.
The third thing that I am going to do is to try to conserve. I am going to try not to be so wasteful and conserve where I can. I am going to be more conscious about turning off lights when leaving a room, and other energy conservation measures. Also I am going to try to save on water and travel expenses. These are simple things that anyone can do that can make a difference.
Fourthly, I am going to keep track of my money closer. You would be surprised at what a difference that it makes just keeping up with your money. Just by knowing how much money you have in your account helps you to be more aware of your spending, again I am speaking from experience. When I don’t keep up with my bank account and just let my wife worry about, I spend a whole lot more.
The fifth thing that I am going to do is to try to take advantage of every opportunity that is feasible to make a little extra money to save and to pay down on debt. I don’t want to be a workaholic, but I want to do all that I can to get my financial house in order.