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Young people are not taught today about the importance of earning and spending money and most of the decisions they make are just not sound and can cause terrible problems.\u00a0 It\u2019s hard to stay in love when your pay check is spent before you receive it.\u00a0 And, then there\u2019s the bumps that life can send your way that can disrupt any couple or family.<\/p>\n
Spending too much on a car, housing, a wedding, a Honeymoon or buying a house full of furniture on credit can be costly.\u00a0 If there isn\u2019t enough money in your budget to pay your bills, you are cheating yourself by not managing your money well.<\/p>\n
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Everyone starts out struggling, but there are ways to have fun on a budget like hosting a Pot Luck.\u00a0 Each person brings something to share and you spend an afternoon or evening with friends or family and everyone leaves feeling great and not in debt.<\/p>\n
Impulse spending and overspending on things that we actually don\u2019t need has been known to destroy relationships.\u00a0 Asking yourself if you want it or need it makes perfect sense.\u00a0 And then, there\u2019s the 24, 48, & 72 hour rule that my father taught my husband and I.<\/p>\n
If you are thinking about purchasing something that is under $500.00, you have to discuss the purchase and think about it for at least 24 hours.\u00a0 If the item is over $1,000.00, you must consider buying it for at least 48 hours before moving forward.\u00a0 And, if it\u2019s over $1,500.00, you must consider the purchase for at least 72 hours.\u00a0\u00a0 If you stop and think about what you are considering to purchase things can change dramatically.<\/p>\n
Consulting with people who are debt free and have made sound financial decisions all of their lives is the most sensible thing you can do.\u00a0\u00a0 If you use a credit card, you should plan on paying the bill in full when you receive it.\u00a0 The interest rates are up to 28% on most cards!\u00a0 So, just because something is ON SALE, doesn\u2019t mean you should buy it because paying 28% extra in interest is just plain crazy.<\/p>\n
My father also taught us the importance of saving.\u00a0 When we had a few extra dollars we saved money.\u00a0 And, once it went in the bank – it stayed there.\u00a0 Life is too complicated today to waste money and every dollar you earn should be doing something that makes sense.<\/p>\n
Retirement is right around the corner whether you realize it or not!\u00a0 And, unless you\u2019re planning on living under a bridge in a warm climate, you need to start saving NOW.\u00a0 If your employer matches your 401K contribution, put in as much as you can spare because you are saving money on taxes now PLUS, you are receiving FREE money from your employer.<\/p>\n
Today, it costs $340.00 a month to smoke and $70.00 a month to drink Starbucks Coffee.\u00a0 Just those two items equals $410.00 a month or $4,920.00 a year!\u00a0 I didn\u2019t mention eating fast foods or drinking in a bar but if I had, I think the number would more than double!\u00a0 This amount of money can make a car payment and pay your car insurance too!<\/p>\n
A short time sacrifice for a long term goal is a winner every time!\u00a0 Think about it!<\/p>\n","protected":false},"excerpt":{"rendered":"
Young people are not taught today about the importance of earning and spending money and most of the decisions they make are just not sound and can cause terrible problems.\u00a0 It\u2019s hard to stay in love when your pay check is spent before you receive it.<\/p>\n","protected":false},"author":36,"featured_media":6668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[343],"tags":[],"class_list":["post-6670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dear-heather"],"yoast_head":"\n