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How to Manage Your Finances

How to Manage Your FinancesIn the difficult economic times that we live in, how can you best learn to manage your finances? I love budgeting and trying to save money any way that I can. Thankfully my husband allows me to be in charge of our finances because it gives me great satisfaction to budget, and figure out how we can best put money into our savings account and manage our finances overall.

Since we have been married, so for the past two years, I have successfully saved hundreds of dollars each month and we have a nice cushioned savings account. How you might ask? First of all, I have created a very detailed budget and stick to it each and every month. I have outlined all of our income, and then written out our expenses. Next, I determined where else we need to spend money every month such as groceries, dates, and miscellaneous expenses.

I have given each category a budget and will not spend more than that. This leaves me with money to put into savings from our income, and then any category where we don’t spend the full amount the different also gets put into savings at the end of the month. Once I have successfully paid off one debt, I use the monthly payments I was spending on that debt to go into another debt. That being said the only debt we have after two years of marriage is my husband’s school loans which we can pay off in full at the end of the year! That is a huge feat, because in order to cut your monthly bills you need to eliminate as much debt as possible. This will allow us to start putting that money towards something much more enjoyable such as a children fund and a downpayment on a house. However, I’m going to stop here and say that not everyone is this fortunate to have little to no debt due to their good financial management. Some individuals are swimming in debt and have no idea how to get out. That being said, sometimes these individuals need some professional help in managing their finances.

They might even find it in their best interest to speak with a bankruptcy attorney. If you live in or around Gretna, then you are in luck. Kirkpatrick and Associates are here to help. They are well versed in everything bankruptcy and can help you and your family get back on firm footing financially. It won’t be easy, and it’ll take time, but these professionals can help to make it happen. 


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