At CCB we are concerned about the people we serve and with this in mind, we are making you a deal…We will provide the information and you will take action. After reading this, you will no longer have any excuses for not taking control of your personal finances: such as, balancing your checkbook, creating a budget, learning to save, opening an investment account… and so on.
It is essential that you become the master of your money and use it wisely. No matter your income, you can take control of your spending, create some savings and plan for the future.
We know you may be interested in credit, and if you have good credit, you are probably thinking that you don’t need any help with your personal finances. But consider this…if you were to lose your job, how many weeks could you go without income? Are you one of the hundreds of affluently poor out there? Those people living with high credit debt, high lifestyles, and average income? Are you ready for a crisis? CCB can help you!
You may be just starting a financial life, or have had poor credit, or trying to recover from financial ruin, you may be considering credit. We know its tempting to give up, but we at CCB are here to encourage you to take a deep breath and start fresh! You to take control of your personal finances and better your life by following the suggestions provided here:
Rules
-
Never bounce a check
-
Start a simple budget, and stick to it
-
Pay down on high credit debt, and begin a savings account
-
Open an investment account and plan for future needs
-
Pay yourself first (deduct for savings each payday)…it will make your savings easier
Keep It Simple:
Remember to keep budget making simple – Take a piece of paper and make 2 columns. In column 1 list your monthly income. In Column 2 list your monthly expenses. Be sure to list all sources of income and all monthly expenses. Add both columns and subtract column 2 from column 1. Now see where you are for the end of the month. Are you spending more than you make? Ouch!
But how can that be? How come I am not broke? Hmmm. Maybe you need to look at your credit card spending too. We often supplement our income with credit card debt or personal loans. In order to create a realistic budget, we need to spend only from the paycheck we get each month. Remember - Credit should not be used as a regular source of income.
Tips:
Stick to your budget for a few months and see how much you are able to improve your finances. Find places in your budget where you can trim the fat. Use that extra cash to pay down high interest credit card debt and begin saving for the future.
Pay yourself first. Sometimes you need to force yourself to save money. Open an investment account that automatically debits your checking or savings account. Start with a minimum of $ 25-50 dollars per month.
If you need help, feel free to contact us at 497-2571 or email:
vanessac@ccb.ai
Look out for PART II
|
|
Author
|
To find out more about author Vanessa Connor, click her picture.
|
