Save Money and Spend Wisely

Financial – Activity: Save money and spend wisely

If you have a savings account, use it to save money for goals. If you don’t, get one so you can. Calculate how much you need/want to save to reach your goal and use a chart to measure your progress. Look into ways you can save money. Simplify your life with ideas from Zen Habits to save money.

Understand the difference between wants and needs.

• NEEDS = Basics for living
• WANTS = Wishes beyond Basic Needs

Make a printable list of questions to ask before buying, keep it with you, and refer to it before spending money. Research every major purchase before making a decision with resources at your local library like Consumer Reports, car value guides, etc.

Tools:

• Calculators and Excel Spreadsheets at Vertex42
• Calculators at Mind Your Finances

For Saving:

• Savings Goal Tracker at Vertex42
• Explore resources at USAA Educational Foundation
• Financial Goals Forms from http://www.squawkfox.com

Financial Literacy Course and more at Money For Goals post

This is one of the weekly activities for a Year of Personal Development.

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I seek to create order from the chaos of complex information. Join me at the Daily PlanIt to gain insights, inspiration, and information to increase skills for a better life. I unlock the power of teaching reading with phonics in the pursuit of literacy at www.phonicspow.com. In my spare time I explore books and movies, often choosing titles available on both screen and page.