Spend Smart, Save Smart Tips
Ten Tips for Managing Money
- Track your spending. Keep weekly and monthly totals to prevent overspending.
- Develop a realistic budget and stick to it!
- Instead of buying an item, think of alternate ways of getting it, like borrowing or sharing.
- If necessary, go on a spending or credit “diet.” Have a “spend nothing week.”
- Shop with a list. It will help you avoid impulse buying.
- Think twice before buying. Ask yourself, “do I really need this?”
- Pay more than the minimum on credit card payments. You’ll pay off the balance faster, and save more by paying less in interest.
- Pay bills on time to avoid late charges and a negative credit report.
- Plan for savings. You should have at least 3 months of savings in reserve.
- Go to the More for Your Money website, http://web.extension.illinois.edu/money/, for more information on how to better understand your money and use it wisely.