Tips to better manage your money

Sometimes it seems that all we have left in our wallets — and even our bank accounts — are pennies. What to do in those moments? Perhaps the best thing is to review what is happening with your money and consider ways to manage it better. Here are some tips to get that process started:

• Know what you spend each month. Determine which of these items are necessities and which are extras. Stop spending money on the extras!
• Create a budget. Know that your budget is a guide, but also can be a fluid document. It will be different each month based on changes in income or expenses, such as bills that only come quarterly or annually.
• Make sure you pay your bills on time! Ideally, you want to pay a bill as soon as you receive it. If that is not possible, create a system so you don’t miss a due date. One idea is to keep a folder with the bills in due-date order. Another idea is to write the check, put it in the envelope and put a mail date in the stamp area. When that day comes, simply add your stamp and drop it in the mail.
• Get rid of your credit card debt. If possible, stop using your credit cards all together and work on paying down any balances. Additionally, call those credit card companies that are charging you a high interest rate, and ask them for a lower rate.

You don’t have to wait until only pennies remain to put these tips into use. Today is a great day to start to review your finances. We are always here to help you through that process!