Money, Money, Money...

I think....money should be given to the people so the people will use it to stimulate the economy. Wouldn't it work a little better if we were all paying actual money? And what good is a new park going to do for the economy?

So, some money saving tips, in less than 15 minutes, thanks to FHE and a woman named *Mary Hunt ("Financial Freedom in 15 Minutes). Please note that I took this from an article handed out at FHE, I have summarized it to mostly my own words, but it is an article by Mary Hunt that you can look up later if you want.

1. Save You don't "save" money by spending less - you're still spending money! You actually save money when you put it away into a safe place. Goal: 10 percent of all you receive goes straight into savings. P.S. Also try to put some money away every paycheck into a cash backup. You have no idea how much that will come in handy someday.

2. Give Give away the same amount you save. This means charities, church organizations, whatever you do. Goal: 10 percent goes to charities. (For anyone who pays tithing, try to Give first, and then Save, but make them both top priority)

3. Live Live within 80 percent of your net income. Reduce your spending in every area of your life by a small amount, and this will be achievable, and sooner than you think.

4. Credit ONE Credit Card. How many credit cards? ONE. Just one. That's all you need. Choose the one you've had the longest and cut up the rest. If your card has a balance on it, don't carry it with you. ONE credit card.

5. Debt "The only debt safe for you to carry is secured debt (mortgage, car, or anything with collateral)." Plan to pay off all your credit card debts quickly. Remember, interest is not our friend! And for you students, don't worry - the church has said that it is ok for students to go into debt for our schooling, but don't go off and get a loan for that BMW that you've always wanted. That can wait til you're old and retired with a million dollars. Also, did you know that the LDS church does not start any project unless it is already paid for in full? That means temples, churchs, etc. Hm, that's some good advice there.

6. Cash I guess it's been proven that you spend about 30 percent less if you pay with cash. Personally, I think it's actually a little easier to spend if you have cash on hand, but also you have a set amount of cash and that's all you can use (leave the plastic at home), then you're bound to spend less and save it for something better. Plus, who wants to write a check to your roommate for $3.25 that you borrowed earlier that week?

7. Plan You. Need. To. Plan. You need to have a spending plan. You need to have a budget. You need to know exactly what goes in, and what goes out, and when it does that. Write it down, and stick with it.

8. Get Support Daily support from others who are also getting control of their financial lives:
www.everydaycheapskate.com. Also, you can visit www.debtproofliving.com every day. Join in and get involved.

So yes, money these days is scary, but it is possible! I have a very strong testimony of this, and I know that if we just work little by little and spend within our income, we will do just fine in this ever-changing world. Stay in tuned later for some tips on...Food Storage!

*Mary Hunt is the author of 14 books. Everyday Cheapskate readers will find her recently revised book, "Debt-Proof Living," available at a discount at www.debtproofliving.com/um. All correspondence becomes the property of Debt-Proof Living.