Tuesday, September 8, 2015

Greetings Thrifty Friends,

Are you caught in a spending habit you don't know how to break? Follow these ten steps to financial responsibility.

Keep pinchin' those pennies,
Penny

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TODAY'S THRIFTY TIP:

1. Go Cash-Only. Credit cards make it easy to overspend, but you can't use them if you don't have them with you.

2. Set Long-term Goals. Pick something that you really want - a vacation, a fat emergency fund, to get out of debt - and remind yourself of this goal each time you feel tempted to blow money on a non-essential.

3. Distinguish Between Needs and Wants. Do you need those new shoes or do you just want them? Ask yourself this question each time you find yourself contemplating a purchase.

4. Shop with a List, then only shop for the items that are on your list.

5. Give Yourself an Allowance. Look over your budget, and decide how much money you can afford to blow each week.

6. Institute a Cooling Off Period before buying any big- ticket item. This will give you time to decide whether you really need and can afford the item.

7. Find a Shopping Buddy. Designate a friend or family member your "Voice of Reason"; and only shop when they can go with you.

8. Shop without a Cart. You'll be less tempted to shop when you don't have anywhere to put your selections.

9. Let Someone Else Shop for You. Make out your shopping list, and then hand it off to someone you trust. You won't be able to add impulse items if you're sitting at home.

10. Survey Your Selections. Before you head to the check out line, take a minute to look over your selections. Do you need everything that you're about to buy?