Tuesday, June 8, 2010

More Money Tips for Widows

Money tips are continued today. (The first 10 were Tues. May 25--click on Tuesday Label in the right column if you're interested). If you want to see all 50 at once, just click here. Personally, following through on one or two is enough of a challenge for me, so I have to break them down like this. Many thanks to The Church at Brook Hills for permission to share these.

Practical Planning Tips

11. Look at your monthly expenses and evaluate which items are needs and which items are wants.

12. Create and follow a written financial plan (budget). Start by praying about it. Proverbs 16:9

13. Document your cash flow in and out for 3 months in order to see where you’re spending (try using a tracking software such as Quicken).

14. Monitor progress toward your goals by setting weekly/monthly checkpoints and evaluating the changes you’ve made. Review your finances each month.

15. Take advantage of free retirement matching from your employer.

16. Evaluate your outstanding debt and form a plan of attack to pay it off.

Did you find this helpful? Help out other widows by sending in your financial tips or single-living skills to: wcplace@gmail.com

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