Most parents I speak with these days have but one common interest, making ends meet. Stretching the value of your money seems to be getting harder and harder every day, so how does one do it? The simplest place to start is by allocating a budget and taking the necessary steps in staying on top of your finances. A recent article in GEICO direct, offered interesting information worth while mentioning regarding money management. They refer to Sixwise.com, a financial and safety advice website, who stated that according to a 2005 “American Financial IQ” survey, about 65 percent of Americans believe they are very or highly knowledgeable when it comes to personal finances. However, more than one-third of the U.S. population does not use a budget to manage expenses, a must for keeping your finances in check.
The toughest part is taking a closer look at what are all of your expenses, spending habits, itemizing them for review on a routine basis, define your goals and formulate a plan on getting there. For me, that routine happens at the end of every month where I decide on the things I can and cannot do and set out to follow those goals as closely as possible. More importantly, educating your children on the realities of the times and the challenges of managing your finances helps prepare them with the skills they will need for their futures.
There are great places on the Internet that contain a wealth of knowledge when it comes to managing your finances. These sites can be used to plan, create and manage your budget along with assisting you to plan for paying off debt, paying off loans, prepare for taxes or even save for retirement. Some sites will even help you manage your business finances and offer text reminders that help you stay on task. Other sites will even assist in helping you fund raise for your non-profit organization, teams and clubs.
Places worth while looking into are:
- BudgetPulse - Giving life to your finances
- Geezeo - Personal finance for everyone
- BudgetTracker - Track your budget easily
- Wesabe - Your money. Your Community.
- Mint - The best free way to manage your money
What ever the media is reporting about the state of our economy, one thing is certain, we can all use help making ends meet.
