Saving Money

LINKS HOME Personal Finance Family Budgeting Saving Money Compound Interest Free Credit Report Credit Repair Forstall Foreclosure Articles&Resources Free Report Grab Your Copy Today of 115 Ways You Can Save Money NOW!

Where Does $10,000 A Year Go? And How Can You Save Money I’m reminded of an interview with a couple who had a combined after tax income of $40,000. They watched their expenditures, even though they didn’t have a budget. But at the end of the month they keep running out and couldn’t save money the way they would like. So, in desperation, they sat down with all of their bills, sorted them by fixed expenditures – like the rent, insurance, car payments, and variable expenses that could be forecast easily – like utilities and transportation. They went over their credit cards and concluded that their purchases were within reason. They added everything up, and, to their dismay, found they could only account for $30,000. Where did $10,000 a year go? The decided to take a very disciplined approach to find out how over $800 a month simply vanished without a trace. They each took a notebook and wrote down every penny they spent. They didn’t try to save money at that point; they were just trying to establish a base line and to see where the money was leaking out. At the end of the month they compared notes. A cappuccino here, a lunch there, a magazine, a newspaper, an impulse buy at the checkout counter – cash that came out of their pockets, but was never recorded anywhere. Taking a realistic look at their lifestyle they realized there would always be some purchases they would make that went beyond necessities. They decided to take two steps. First, they would put $400 a month into an interest bearing checking account. Second, they would give themselves a personal allowance of $100 cash a week each. Without going through a formal budget, this plan would mean they would be saving nearly $5,000 a year and still be able to enjoy their lifestyle. With over 300 ebooks and software in over 60 categories --- Make sure to visit

Free Articles First Steps to Building Your Money Saving Budget Budgeting for yourself, for a couple, or for a larger family, is actually a form of financial management. You are your own CFO (Chief Financial Officer). ...more... Money Saving Tips Three No-Cost Money Saving Tips

ebooks24-7.com Copyright 2009