Managing your money

We should all have a special relationship with our money, after all money is a huge part of our lives. Your money decides what you can or cannot do. Where you can or cannot go and how you get there. Life is tough and challenging. We struggle to pay our bills, to make rent or mortgage payments, to provide food and clothing for our family. We all want to live a life with fewer financial concerns, enough money to pay our bills. This is possible if we manage our money. We need to make sure that our money falls in line with our values that matter the most to us. We need to understand where our money is coming from and where our money is going. Just when you think you`re making ends meet, someone will move the end. Here is some helpful information to manage your money.
1. Sit down and figure out all your incoming bills and current expenses. Develop a budget you can live with.
2. Save money. I know, easier said than done. Figure out what you can live without, and put that money in a separate account. It`s amazing how quickly it will add up.
3. Review and take the time to understand your credit score and your credit report.
4. Balance your chequebook. Again, I know, easier said than done. But it is crucial to have a handle on what money you have on hand so you can plan for your future.
5. Use your credit cards wisely. A smart approach is to say to yourself, `Can I pay this expense off with cash when the bill comes in at the end of the month?` If you answer no, you probably need to tuck the credit card back in the wallet. 15-25% interest is a sure fire way to keep your budget off stride for months or years to come.
6. Prevent and detect identity theft. Never respond to `inquiry emails`. No bank will ever ask for your password or any identity words through an email. It is definitely a scammer looking to steal your identity, and in turn, your savings.

Every relationship needs work, including our relationship with our money. For more tips, please go to PrudentFinancial.net.