- February 22, 2013
- Posted by: Richard Feinberg
- Category: Money Management
Although the average bankruptcy filing is not brought about simply due to poor money management, many of us could still use a little help in the finance department. Whether you are just looking to boost your financial habits or starting fresh after a Tampa bankruptcy case, here are a few strategies to reach your financial goals:
Money management habits are like any other skill, they take practice. If you adopt an “out of sight, out of mind” mentality with your money, you are likely to see things get beyond your immediate control. Keep focus on your money and be intentional with your actions. Set a budget, stick to it and don’t be afraid to cut items from your frivolous spending. Even taking a month or two off from going out to eat, buying expensive coffee or going to a movie theater can generate a sizeable portion to contribute to your savings without feeling deprived.
Just like mastering any new skill, you can expect setbacks. There will be times you go over your budget, forget to save or even miss a payment on a debt. The best way to measure your progress isn’t in the day to day, but the overall progress towards your goal. Outline a plan of daily, weekly, monthly and future goals. Set rewards for meeting those goals. You will find that in a matter of a few short months you can lower your debts, save up money for a desired purchase or simply have a bigger cushion in your bank account.