Manage Your Money For Debt Free Life


Manage Your Money for Debt Free Life
Like most of general public, you may find that managing your money is an overwhelming task. But the consequences of not managing your money well can causes you to trap into financial crisis; when you are in the trap, more efforts and times are needed to get out from there.
With the enhancement for computer technology and many personal finance software have been released in the market, managing your money is no more a difficult task. The tough part is to get you started.
This article provides some information on how to get you started in managing your money. If you can’t do it all at least do more than you were doing, make progress. Then when that’s under control come back and add another chunk. Eventually you’ll have it all working for you.
The first step in managing your money is to figure out where you are at right now. To know this, you must list down all your ongoing expenses to a sheet of paper or into your personal finance system (if you are using a software application to manage your money). You may find that listing you ongoing expenses can be more difficult than it first seems; it is alright because everybody has the same feeling.
Ongoing Expenses
Try to list every dollar you spent within the last twelve months. Can’t quite remember everything? Start with the ongoing monthly expenses then add in daily and weekly expenses like food and transportation. Then focus on non-regular expenses like haircuts, birthday expenses, and vacations. Write down as much as you can. Once you have a yearly total then divide by twelve to get your real monthly expenses.
Incomes
Then, list down all your source of incomes including your job, gifts, garage sales, and income tax refunds. Once you have a yearly income figure divide it by twelve and your will get your average monthly income.
Compare your monthly income with your monthly expenses. If you get a positive result, you should glad that you have money left for saving or for other investment purposes; else you are adding debt to yourself and effort should put in place to find extra money to pay down your debt while making sure your necessities are taken care of.
Debts
List down your existing debt your owe exclude all those ongoing expenses listed above. Be sure and include all credit cards, car loans, and home mortgages. Then, add-in the loan’s interest rates, your monthly payment and any ongoing fees, like annual credit card fees, and determine how long it will take you to pay them off and the total amount paid. You may be shocked to see the figures; but relax, knowing these figures now will help to have a better picture on your debt situation and get them under control.
Assets
Your house, cars, investments, bank accounts or even your cash in hand are all your assets. Assets are what your own, list them down and compare them against what you owe (debts).
Get rid of debt
Now that you have a better idea of where you are and where you are headed. There are many methods which you can implement to reduce your debt and eventually eliminate them and enjoy a debt-free life. Among the common methods are:
Debt Consolidation
Debt Consolidation Loan
Home Equity Loan
Credit Counseling
Investment
Once you have your debt under control. Next, you can start to build your wealth. This means you will have to invest it with the expectation of getting more money, returns. Your money must make more money. The safest investments have the lowest returns. The highest returns come with the highest risk. Learning how to balance your tolerance for risk and make your investment based on your risk profile.
In Summary
Effectively managing your money is the only real way to get ahead financially. You must know the flow of your money in order for you to manage it effectively toward a debt free life.


Top 3 Secrets To Make Money Online >>> Click Here

Make 3,000 $ Per Day With This Affiliate Marketing Plan

 

 

 

Keywords: ,affiliate marketing business,affiliate marketing business plan,affiliate marketing business model,affiliate marketing business for sale,affiliate marketing business names,affiliate marketing business ideas,affiliate marketing business license,affiliate marketing business opportunities,affiliate marketing business plan template,affiliate marketing business in a box,is affiliate marketing a business,starting an affiliate marketing business,start an affiliate marketing business,affiliate marketing and home business,affiliate marketing business in a box,affiliate marketing is not a business,business affiliate marketing and disposal of consumer information,business affiliate marketing and disposal of consumer information rules,building an affiliate marketing business,is affiliate marketing considered a business,affiliate marketing business to business,affiliate marketing business for beginners,affiliate marketing home based business,affiliate marketing business in a box,best affiliate marketing business,best affiliate marketing business model,affiliate marketing is a web-based business strategy that,building an affiliate marketing business,affiliate marketing business code,affiliate marketing business case,creating affiliate marketing business,business catalyst affiliate marketing,business affiliate marketing and disposal of consumer information,business affiliate marketing and disposal of consumer information rules,business development affiliate marketing,affiliate marketing business plan examples,e-business affiliate marketing,affiliate marketing business for sale,affiliate marketing business forum,affiliate marketing business for beginners,affiliate marketing for business,affiliate marketing for online business,how to start affiliate marketing business for free,affiliate marketing for small business,affiliate marketing for your business,affiliate marketing for my business,affiliate marketing for local business,is affiliate marketing a good business,affiliate marketing home business,how to affiliate marketing business,how to start affiliate marketing business,affiliate marketing harvard business review,affiliate marketing online home business,affiliate marketing home based business,how to start affiliate marketing business in india,how to start affiliate marketing business for free,affiliate marketing business ideas,affiliate marketing business in a box,affiliate marketing business in india,what is affiliate marketing business,what is online affiliate marketing business,affiliate marketing internet business programs,affiliate marketing internet business,online business affiliate marketing information,affiliate internet business marketing promotion online,what is affiliate marketing business model,affiliate marketing business license,affiliate marketing companies list,affiliate marketing companies london,affiliate marketing local business,affiliate marketing companies in los angeles,local affiliate marketing small business,affiliate marketing business model,affiliate marketing business model online website selling,online affiliate marketing business model,best affiliate marketing business model,affiliate marketing for my business,start my own affiliate marketing business,affiliate marketing business names,affiliate marketing is not a business,affiliate marketing business opportunities,affiliate marketing business online,business of affiliate marketing,affiliate marketing business model online website selling,start affiliate marketing business online,online affiliate marketing business model,examples of affiliate marketing online business,affiliate internet business marketing promotion online,affiliate marketing online home business,online business affiliate marketing information,affiliate marketing business plan,affiliate marketing business plan template,affiliate marketing business plan examples,affiliate marketing business plan sample,affiliate marketing business proposal,business plan for affiliate marketing site,affiliate internet business marketing promotion online,affiliate marketing internet business programs,business affiliate marketing programs,affiliate marketing register business,affiliate marketing harvard business review,affiliate marketing business in a box,research affiliate marketing business,start affiliate marketing business,starting affiliate marketing business,affiliate marketing small business,affiliate marketing business for sale,affiliate marketing business plan sample,local affiliate marketing small business,affiliate marketing business model online website selling,start affiliate marketing business online,affiliate marketing is a web-based business strategy that,how to setup an affiliate marketing business,affiliate marketing business to business,how to start affiliate marketing business,affiliate marketing business plan template,top affiliate marketing business,how to start affiliate marketing business in india,how to start affiliate marketing business for free,how to setup an affiliate marketing business,what is affiliate marketing business,what is online affiliate marketing business,affiliate marketing business model online website selling,business plan affiliate marketing website,what is affiliate marketing business model,affiliate marketing for your business,starting your own affiliate marketing business