Creating habits which require you to think about money on a weekly basis, even if for a brief moment, are very beneficial for your financial future. Here are five different ways to respect money.
1. Keep your credit card statements.
Each time you get a new bill, write down the interest rate along with your payment amount on the statement. Then, slip the bill into a small folder.
Most people simple throw the statement away or use online statements. This leads to neglecting your situation and the inability to answer simple questions regarding your personal finances.
2. Neatly stack your bills.
Just taking the time to put your money into an organized wallet. Each time you pay for something, you will probably take note of how much you have spent, keeping a better eye on your money.
Some people just crumple bills or throw them into their pocket. This leads to inaccurate accounting and the feeling of "What happened to all my money?"
This article continues with 5 Simple Tips to Decrease Debt: Part II.
This post was reposted from http://finlit.biz/uncategorized/5-simple-tips-to-decrease-debt-part-i/, originally written on August 20th, 2013.
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