someone asked me for tips from Dave Ramsey's Financial Peace class, so i will be putting down a few very good tips & if anyone wants to say what works for them, that would be great!
1. first and foremost- you NEED an emergency fund (savings- atleast $1000) for emergencies like car repair or real emergencies.
2. do your budget every payroll! set a goal & stick with it. it will take time to tweak everything. so, be patient :) pay any extra money you have on debt...smallest to biggest. keep your goals in mind.
3. have an envelope system & pay cash for EVERYTHING!!!! NO MORE CREDIT CARDS!!!
cash is harder to part with since you see that it disappears quicker so sometimes you realize you might want to hold on to that money for something you want more. (most people who use even debit cards, spend 12-17% more.
4. be thankful!!! if you watch a lot of t.v., there is a lot of pressure to have the "nicest", which, i agree, who DOESN'T want the best, but, don't go into debt over it. being frugal isn't about being cheap & buying cheap, junky items. but saving where you can, so that you can splurge on something more important to you.
5. think about little purchases. starbucks (or "5bucks" and believe me, we love good coffee), pack your lunches......shop clearance/off season. buy coordinating wardrobes. (sometimes i find that i have random things for my kids that doesn't really match anything) so just because that shirt is cheap, if you have to buy shoes and pants b/c you have nothing to match it, it might not really be saving you.
6. do you have gym memberships you don't use? cable, that you don't need? we got rid of our blackberries (we didn't barely use all of the features b/c we didn't need it) & we save $850/yr (you can get something more important to you...like put it towards vacation). cut back & got basic cable (we save $780/yr) and still have cable modem. cutting back on things that aren't as important to you to save for things more important.
just a couple of thoughts :)
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