Changing habits requires increasing your awareness of bad money habits you need to break. One way to do this is to keep a daily journal of all of your spending — cash, debit and credit transactions — to see where your money is going, said Belinda Rosenblum, president of financial coaching company Own Your Money.
“For most [people], I encourage them to do this for a month to get a more complete picture,” she said. At least, though, try tracking your spending for a week. You’ll likely realize how informative it is and keep going the rest of the month, she said. Then you can pinpoint where your money trickles away — areas where you’re spending too much — and create a plan to plug those leaks. Once you pinpoint how much spending you can eliminate, consider redirecting those funds to savings.
Are you planning your next trip? Thinking about retiring in a quiet and safe place?…
Respect the expert’s opinion It’s not easy becoming a doctor. It takes years of hard…
If you’ve paid any attention to the news lately, you’ve probably seen the surprising developments…
If you want to sell your home and get the best price for it, the…
When you’re finally ready and able to buy a house, even if it’s not your…
More and more seniors are researching towns across the U.S. where they could settle down.…