Get Organized: Get a Grip on Spending

Getting organized with your spending is a life skill everyone should have. Moreover, with the status of the economy, you might be conce
ed about your finances and keeping more money in your pocket than ever before.

I have good news for you. There are four specific actions you can implement to get you going in the right direction.

1) Track your automatic teller machine (ATM) withdrawals. While this might take initiative on your part to do this, it can keep you from being overdrawn and save you a headache in the long run. If you fail to track your withdrawals, you will not have a true picture of your financial situation.

2) Use a shopping list and stick to it. Keep a running list in your kitchen. Add items to it as they are depleted. When it is time to go shopping, buy only those items on your list. You can save yourself oodles of money if you stay away from the impulsive items at the store. Also, never go to the grocery store on an empty stomach as you will spend way more money and likely end up with lots of junk food!

3) Use just one credit card. Paying for cash is by far the best way to manage your money, but if you must use a credit card, only use one. I have seen way too many clients late on paying their credit card bills often because they lost them or overlooked paying them. The more credit cards you actively use, the more bills you will need to pay and the more work for you to do. Furthermore, to keep a handle on your finances, pay your monthly credit card bills in full.

4) Sleep on it. If you come across something at a store you think you want and it is not a necessity, put it back on the shelf. Go home and sleep on it. Then if after 24 hours you still want it, go back to the store and get it. Chances are you won’t want it badly enough the next day and likely not bad enough to make a special trip to buy it.

If you put these four simple systems into place you will be successful in keeping more money in your pocket.

Now go get organized and get a grip on your spending!