With the world’s financial markets in turmoil, advice on money management is needed now more than ever. Here are ten simple steps to handling your finances and keeping your nest egg from being scrambled in an economic crisis.
- Avoid impulse buying. Before you spend money on any purchase, go home and sleep on it. List the reasons why you need the item. Many times, you will discover it isn’t something you really need.
- “Beware of little expenses; a small leak will sink a great ship.” – Benjamin Franklin
- Identify the things you buy for yourself. Seperate the items that last a few days (magazines) from those that disappear right away (pizza, coffee). Price how much your spend each month for these items. You may find a good portion of your income goes toward things that don’t last. Before you spend, consider the object’s long term value.
- “Never spend your money before you have it.” – Thomas Jefferson
- Look for banks that offer a high return on your investment. Don’t settle for a low-interest savings account. Research online and find a bank that gives you the most return for your investment. Try a money market or a CD. Read the rest of this entry »
Posted by ARISE Life Skills 


