728x90
my iParenting
From Our Sponsors
e-newsletters
Sign up to receive our free weekly e-newsletters

new terms of use
new privacy policy
award-winning products
The iParenting Media Awards program helps parents find the best products for their families.
Home › Articles › General Family Finance › Airing out Your Wallet

Airing out Your Wallet

Financial Spring Cleaning

By Teri Brown

Pages:  1  2  3  4  

  • Without the needless spending and reduced credit card expense, you've really got some extra cash in your pocket now. Start a savings account for Christmas gifts now funded by your savings, and involve the entire family. Make sure the entire family shares the benefits of the savings. When you go on your next vacation, explain that you are able to do so because you cut unnecessary spending and saved for something that really means something to the whole family.
  • Keeping track of total expenses is important and you shouldn't quit now. Some people use a computer program such as Quicken to do this, and that is a great idea. But if you want to get on track fast, you can save time. Simply go back over your bank statements for the last 24 months. Each statement gives you one number for the total of the checks you wrote. List that one number on a spreadsheet and then record that number for each of the last 24 months. Now you can calculate your average spending by dividing the total by 24. Now you know the average amount you spend on a monthly basis. Compare this number with your income. In most cases, you'll see that you are spending too much. If that is the case, go back to step one and try to do more cutting.

    • "Now is the best time to deal with these issues," Frankle says. "You'll find that a few minor adjustments will have a significant impact on your financial future and peace of mind. The longer you wait to spruce up your finances, the harder it will be. That's why spring cleaning your finances today is a good idea."

    Pages:  1  2  3  4  


    Want to see more?