As I promised in yesterday’s blog here are some additional suggestions that should help you save money. The first suggestion is to keep a record of all of your spending. It is important for you to know exactly where your money is going. Many people are surprised when they see how much of their money is spent on things that they would not miss if they cut them out. Lattés, parking meters, or unnecessary gas expenses, in other words, driving when walking is an option, are some examples. Once you know where your money is going you can design a realistic budget that you are likely to follow. Be sure to devise a monthly and a weekly budget. In order to develop a budget that will work for you, it is important to begin with your monthly income and expenditures.

 Now for the obvious, PAY IN CASH. If you pay for things in cash not only will you avoid costly finance charges but you will be more conscious of what you are spending. As a result, you will be more likely to spend less.

Also, be aware of sales. It is a human frailty to be drawn to a bargain. We end up being seduced into purchasing things we do not need. Always ask yourself whether you really need something before purchasing it.

Another suggestion is to combine the practice of paying in cash with sticking to your budget. Set your budget for the month then label an envelope for each expense. For example, gas, food, etc. In each of the envelopes put the predetermined amount of cash. And remember, when the cash is gone in an envelope, you can no longer can spend money on that expense for the month.

In my next blog I will continue with even more money-saving suggestions. In the meantime, if you have any questions and live in Colorado please feel free to contact me. I am here to help. Kevin D. Heupel, Colorado Bankruptcy lawyer, 303-955-7570, COBankruptcyHelpEmail, free-consultation form.