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How to be smart with money


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    Was looking around about how to be savvy with money. I could definitely use the advice so I was hoping to get other's input on this. The list I found was very basic, but I'm hoping I can get the opinion of the pros on here.

    1. Know what you value the most and know what is behind your financial decisions.

    2. Get organize when it comes to managing your money, that also means financial documents.

    3. Know where all your money is going so you can spot spending leaks.

    4. Shop smarter, and shop around for better deals.

    5. Reduce your debt.

    6. Build your credit.

    8. Save, save, save.

    9. Create a budget or a spending plan.

    10. Invest your money when you can.

    So now that some pretty basic tips are out of the way. I would like to hear what other people have found to be helpful personally.

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    Those are all good. Though does seem like 1-4 are just subpoints to #9. All of those can be accomplished when you sit down and create a budget.

    I mean, being smart with money definitely involves reducing debt, saving, investing, building credit, having a smart budget and being a smart shopper. But is there something specific your interested in for this thread's purposes? Those are great things to do, but all pretty vague..

    I would say start with making a budget so you know exactly where all your money is going. Then you can know how much you have leftover every month for stuff not in the budget. And it would be smart to add savings and investments to the budget, if you can. And of course, paying off debt. So to me, budget is #1. All else kinda stems from it.

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    WyattTown Wrote:

    I would say start with making a budget so you know exactly where all your money is going. Then you can know how much you have leftover every month for stuff not in the budget. And it would be smart to add savings and investments to the budget, if you can. And of course, paying off debt. So to me, budget is #1. All else kinda stems from it.

    Yeah, this is what I was looking for. I just wanted to hear if anyone had their own run-down of how they've made their finances work.
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    BlankCheck Wrote:
    WyattTown Wrote:

    I would say start with making a budget so you know exactly where all your money is going. Then you can know how much you have leftover every month for stuff not in the budget. And it would be smart to add savings and investments to the budget, if you can. And of course, paying off debt. So to me, budget is #1. All else kinda stems from it.

    Yeah, this is what I was looking for. I just wanted to hear if anyone had their own run-down of how they've made their finances work.
    I think a lot of people are scared to look at bank statements or credit card bills. They just spend and hope for the best. And are only vaguely aware of what goes in and what goes out. So budget, yeah. But most important - don't be afraid to look at your accounts. Might help to switch to cash if you are in the habit of 'swiping and forgetting'.