Get Control of Your Finances – Steps You Can Take Today
Your finances determine many important things in your life such as where you live, how you live, and what you’re able to do. So, it is very important that you get control of your finances. Here are some steps you can take today to start taking back control of your money and get on the path to creating wealth.
Start tracking your spending. The first step you need to take when taking control of your money is find out how you’re managing your finances right now. Where does your money come from and where does it go? You may be surprised to learn that how you think it’s being spent is often different than how it is actually spent.
To find out where your money is going, begin tracking it right now. Your tracking system can be as simple as a notebook page with columns, or you may want to set up a software program to help. Then write down all the money you spend as soon as you spend it. Don’t let guilt keep you from making entries. This step is meant to help you find out the truth about where your money goes, not judge your spending.
Set up a budget. If you don’t think you can follow a budget, think of it as a spending plan instead. To get your finances on track and start saving, you will need to spend less than you make. Write down where your money is coming from and on what dates you are paid. Then figure out how much of that money is spent on bills and other necessities. Write down how you will spend the remainder.
This is where you may realize you need to cut out some expenses so you can stay within your budget. Remember to plan ahead and put money aside for large purchases. Your needs will likely change every few months, so review your budget or spending plan regularly.
Start saving. The wealthy save a portion of their income so they can invest it and watch it grow. However, most of us aren’t accustomed to saving. We spend our money as quickly as we get it. To begin saving money today, contact your bank about arranging a regular automatic transfer from your account. Saving 10% of each paycheck is a good goal to strive for. While you’re getting used to the idea of saving, you may want to start out by saving 5% of each paycheck and build your way up.
Put away your credit cards. If you have your credit cards with you when you go shopping, you will probably use them. Eliminate your credit cards as an option by putting them away or even hiding them. If you remove them as a temptation, you will force yourself to live within your means by spending only the money in your bank account.
Ask your credit card companies for lower fees. Pick up the telephone and ask your credit card companies if they can work out a lower rate for your credit cards. Usually they will try to help you because it hurts both you and the credit card company if your debt goes to collectors. A lower rate means it will cost you less to carry the balance while you pay it off.
You can gain a lot more control over every aspect of your life once you control your finances. By following the above steps, you will be on the way to getting that control.
Save on Dining on a Dime
Check out the 50% off sale on Dining On A Dime and Keeping it Clean! The sale lasts through Monday, March 12.
Homemade Baking Mix Recipes
by Tawra Kellam
http://www.LivingOnADime.com
Baking Mix
9 cups flour
3 Tbsp. baking powder
2 tsp. salt
1 cup shortening or 1/2 shortening and 1/2 butter*
Mix flour and other dry ingredients. Cut in shortening. Use a mixer on low to cut in the shortening to save time. Store in an airtight container up to 6 months. This recipe uses a 5-pound sack of flour when doubled.
*Refrigerate if using butter.
Baking Mix Pancakes
2 1/4 cups baking mix
1/4 cup sugar
1 egg
1 1/2 cups water
2 Tbsp. vegetable oil
Mix ingredients until moist. The batter should be lumpy. Cook on a hot greased griddle. Flip when bubbles break on the surface and the edges begin to dry. Makes 15-18 medium pancakes.
Baking Mix Biscuits
2 1/4 cups baking mix
2/3 cup water or milk
Mix lightly until dough forms a ball. Turn onto a lightly floured surface. Knead 10-12 times. Roll dough about 1/2 inch thick. Cut with a 2-inch cutter or the rim of a glass dipped in flour. Bake at 450 degrees for 10-12 minutes on an ungreased cookie sheet. For drop biscuits, use 1 cup water and drop by tablespoonfuls onto a baking sheet. Makes one dozen.
*For cheese biscuits, add 1/4 cup cheddar cheese.
Baking Mix Muffins
2 1/4 cup baking mix
1/4 cup sugar
1 egg
3/4 cup water
1/3 cup vegetable oil
Mix dry baking mix and sugar. Add egg, water and vegetable oil to dry ingredients. Mix only enough to moisten flour. The batter will be lumpy. Fill greased muffin tins two-thirds full. Bake at 400 degrees for 20 minutes.
*For an added surprise fill muffin cup halfway and then add a spoonful of jelly. Top with more batter. Add raisins, cinnamon or nuts for gourmet muffins. Makes 12-15 muffins.
Butterfly Ring
2 1/2 cups baking mix
1 Tbsp. sugar
1 egg, beaten
2/3 cup milk
1/4 cup butter, room temperature
Grease a jellyroll sheet and preheat over to 375. Mix first four ingredients until well blended. Dough will be sticky. Knead on a lightly floured surface 18 times. Roll out into an 11×14 inch rectangle. Spread butter on the dough, then the filling on the dough. Serves 12.
Filling
2 Tbsp. butter, melted
1/2 cup sugar
3/4 cup nuts (optional)
1/2 cup cherry jelly (raspberry, strawberry or any other jam or jelly will work)
1/2 tsp. cinnamon
1 Tbsp. flour
Add the ingredients to the melted butter. Blend until smooth. If necessary, heat jelly 30 seconds in the microwave if you need to make it smooth. Spread filling onto dough. Roll the dough lengthwise and seal the edges by pinching them together. Form into a circle on the jellyroll pan. Cut 4 to 5 slits in the top to release steam. Bake for 20 minutes. Cool and frost with butter cream frosting.
Breakfast Puffs
2 cups baking mix
1/4 cup sugar
1/4 tsp. nutmeg
2 Tbsp. butter or margarine, softened
1/2 cup milk
1 egg
1/2 cup butter or margarine, melted
2/3 cup sugar
1 tsp. ground cinnamon
Heat oven to 400 degrees. Grease 24 mini muffin cups. Mix baking mix, sugar, nutmeg, margarine, milk and egg. Beat vigorously for 30 seconds. Fill muffin cups about 2/3 full. Bake 10 minutes. Mix sugar and cinnamon in a bowl. Quickly roll the puffs in melted margarine, then in the cinnamon and sugar mixture. Makes 24 puffs.
Jill Cooper and Tawra Kellam are frugal living experts and the authors of the Dining On A Dime Cookbook. Dining On A Dime will help you save money on groceries and get out of debt by cooking quick and simple homemade meals. For free tips and recipes visit http://www.LivingOnADime.com, sign up for the free Living On A Dime Newsletter and learn to save more!
Living On A Dime is having a sale with 50% off of Dining On A Dime and Keeping it Clean! The sale lasts through Monday, March 12. I have been a happy customer, and I love their books, so I became an affiliate. The article and recipes were reprinted with permission.