finance

Six tips to use during the obama years

No single solution will resolve the country’s economic situation. Similarly, there is probably no single solution to resolve your personal finances, but there are several practices you can begin to put in place to strengthen your financial position. Rolling out offers these tips to ward off the impact of the current economic ills and address money problems that may be strapping you and your family.

1. Avoid all impulse buying and unplanned expenditures. A deal is not a deal when you spend money you didn’t intend to.

2. Develop strategies to increase your income, in addition to your regular job.  Put your talents to use and be enterprising.

3. Prepare a budget and don’t spend money that’s not in the budget. Conversely, budget for everything you do so you’re not surprised and caught short. Evaluate every purchase and keep receipts to track where the money went.

4. Think savings at all times and make saving a standard practice. Example: instead of going out for lunch, bring lunch or this may be a good time to start a fast and get focused.

5. Join buying clubs and patronize retailers that offer buying and shopping incentives, like in-store credit and consumer membership advantages. Buy in bulk and watch how much you’ll save by eliminating last-minute shopping for single items. Be thrifty.
6. Build your skill set so that you’re increasing your understanding of finances and the economic