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Managing Finances & Budgeting

Unlock the secrets to managing your finances with our comprehensive guide. Learn effective budgeting techniques, understand your expenses' classifications, and discover 10 simple saving strategies without compromising your lifestyle. Recognize the difference between discretionary and nondiscretionary expenses to gain better control over your money. Enjoy free experiences and prioritize significant purchases while minimizing recurring costs. With direct deposits and automatic transfers, you won't spend what you don't see. Start your journey toward financial progress today!

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Managing Finances & Budgeting

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  1. Managing Finances & Budgeting

  2. Financial Records

  3. Net Worth

  4. Financial Progress?

  5. Budgeting Process

  6. 10 Simple Saving Strategies (w/o becoming cheap) • Don’t become emotionally separated from your money. (Direct deposit, debit cards…make it very easy!) • Understand and be honest about expense classifications. • Discretionary expenses = wants (cell phone, take out lunch, non-work clothes, vacation, gifts, movies, etc) • Nondiscretionary = needs (house, taxes, doctors, commuting expenses, utilities, gas, food, car, etc) • The time to lower your “needs” spending was yesterday. • Enjoy free stuff! • Major on the major. (more time on major purchases!)

  7. Enjoy being with people you like. • Don’t blow off the recurring minor (cable bill, cell phone plan, morning coffee, ATM fees, bank fees, dry cleaning, etc) • Spend with comfort on items or experiences you value highly. • You won’t spend what you don’t see. (automatic transfer) • Constant budgeting isn’t required.

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