2 Budgeting Tips

budgeting, finance, family money, savingManage debt payments properly

A good budget will help you manage your debt payments. In your budget, always  make sure that you allot for more than just the minimum monthly payment on any  of your debts. You can do this by factoring into your budget the most you’ve  ever spent on things like groceries and utilities. With this extra amount built  into your budget, you can then spend the leftover amount on your debt  payments.

Use Cash More Often

Avoid finance charges on credit cards by paying with cash whenever possible.  Take envelopes and label them according to major spending categories for the  family. Then, place the necessary money into each envelope and keep those  envelopes in a secure location. This will give you a better idea as to how much  money you’re spending on these things, which should in turn incite you to spend  wisely.