Think bad credit wont hurt, think again. Everyday people max out their credit cards, get unaffordable mortgages, buy expensive cars, clothes and unnecessary items that just put them more into debt. Why do people do this? Its a habit. For some it is just as addictive as someone who is addicted to drugs or sex. Is it possible to get out of debt and change spending habits? The answer to that is YES.
The main reason why 95% of us work is that we have bills we need to pay but not everyone pays their bills first. Some pay their bills but have so many that they don't know what bills to pay first.
Here are some tips that can help you get start saving today:
1. No matter how much you make, set aside 10% to yourself. I know you have heard this many times before and this should be a reason that you listen this time. The best way to do this is to have more than one bank account and write yourself a check as soon as you get paid and deposit it into another account. Make sure you don't get an atm card for this account. Act like you are paying a bill. Another suggestion is to set up direct deposit for 10% of your check to go into another bank. Make sure this bank is not within 10 miles of your house. This will make it a hassle to get the money out and force you to save.
2. Pay off your credit cards. I can not stress this enough. Credit cards are only here to put you in debt. If you can not afford it today don't buy it. Save one and pay it on time to increase your credit score.
3. Start a spending diary. Write down everything you spend money on. You will be amazed at how much money you throw away. Evaluate it weekly and set a goal to eliminate something that will save you at least $10 a week and throw it in a shoe box. In a year you will have $520 saved up.
4. Use coupons!!!!! Don't you want to save money? Use the extra money saved from the coupon and throw it in a jar. At the end of the week buy yourself some gas.
5. Shop around for sales. If it is not on sale, don't buy it. Look for online deals that gives you cash back for your purchase.
These hints will become a habit over time and easier to do.