Saving Money In A Marriage

Making money may be easy for some, but keeping the money made is difficult for many.

Many Americans earn plenty of money to live a great lifestyle but don’t save enough for their long-term life goals.

 

With your money wisdom, you always have to save and pay yourself first. If not, you could end up blowing away all your money faster than you earn it.

 

So, how do you pay yourself first?

 

Simple: Open both a checking account and a savings account. Deposit a certain but fixed amount of money into your savings account every month.

 

In addition, set up an emergency fund. Why? It’s because you may become unemployed; your house’s roof may need repair and fixing; you may experience a medical emergency; you may need a college fund, and so on. So, if you’ve extra cash each month, deposit it into your emergency fund.

 

So, how do you get rid of your debts?

 

With your money wisdom, you get rid of your debts as much as and as soon as possible. Pay off first all your debts with the highest interest rate, such as your medical bills and your student loans. Pay your credit cards balance—remember, getting another credit card won’t solve the problem of credit card debt or payment.

 

As for your home mortgage, make bi-weekly instead of monthly payments; refinance your mortgage from 30 years to 15 years.

 

So, how do you save little to save big?

 

“Beware of little expenses. A small leak can sink a great ship.”—Benjamin Franklin

 

Your every daily action has a monetary consequence. Here are some of the little things you can do to save little to save big:

 

Avoid buying your coffee on your way to work.

 

Bring your own lunch to work, instead of getting your lunch elsewhere.

 

Eat more at home than at restaurants.

 

Get your DVDs from your local library, rather than going to cinemas to watch your movies.

 

Stephen Lau

Copyright© by Stephen Lau

 

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