02 February 2009

To Save Money - STOP SPENDING!



Seriously, stop spending money - no more clothes, magazines, toys, makeup, computer bits and bobs, shoes etc. For four weeks use your money to pay the essential living expenses (mortgage/rent, utilities, food - bare bones basics, fares/petrol) and see just how much is left over at the end of the month. Then use 50% of that money to pay down debt and 50% to increase (or start) your emergency fund. You must bank the leftover money - it is not saved until it is safely in the bank it is just not spent.

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