Cutting Back and Building Cash

Building Cash – Budgeting 101Tutorial

How do you obtain money to get your financial life in order? Cutting back and building cash starts with reducing credit card debt, establishing an emergency cash fund, and starting an investment account. Later saving for a down payment on a car and home. Where do you find the money? The answer, surprisingly, is right at your fingertips. As I will demonstrate, with a little planning, you can discover funds in your very own wallet.

As I mentioned previously, it is possible to start an emergency cash fund and investment account because these can be established as another monthly bill. Treating them as a monthly bill will force you to establish and maintain your accounts.

The following is a list of ways you can cut back and establish available cash to pay off bills, acquire cash for an emergency fund, and raise cash to start an investment account. Consider the following “Savings Per Month” list:

SAVINGS PER MONTH:

Cup of cappuccino daily……………………………………………………$90.

Brown bag lunch daily……………………………………………………..$50.

Eliminate expensive pre-packaged junk food from the grocer………………..$25.

Decrease movie theatre, videos, & pay-per-view; use the
premiere cable channels you already have!!…………………………………..$20.

Cut long-distance calls. Instead, send e-mail and use free
long-distance………………………………………………………………………….$50.

Comparison shop for high-quality deep-discount clothes………………………..$100.

Work to discontinue unhealthy, expensive habits—
smoking, drinking, and heavy sweets……………………………………………$50.

Consider purchasing a new-used car, with warranty and
inspection, rather than a brand new car……………………………………..$200.

Use your year-end tax return surplus to invest ………………………………$200

As you can see there are a lot of ways you can find money right at your own fingertips to pay off bills, start an emergency fund, and start an investment account. Now just get started. Don’t forget, you can get a better job, and you always have the right to look. A higher-paying job can increase your cash flow, provided you do not disproportionately increase your expenses along with it. Customize the chart above to fit your own needs.

NEXT >>> Budgeting 101; eMoney Tutorial — 10 Signs You Have Learned Dollars Value

Cutting back and building cash

Cutting back and building cash

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