Cashmonkies Frugal Blog

So you have started your budget as I suggest, but now your a little bit confused. So what do you do next? Well its a good thing you came here, because I am going to tell you what to do next! Now each month, you must go over your budget and check it. But what does this mean? This means that you need to make sure you haven’t gained any bills, any of your payments have not went up or down. If you have had something change, then that needs to be figured out in your budget now.Lets talk some about your debt. If you have a lot of credit card debt, then your minimum due on them credit cards is probably eating you alive. And by paying just the minimum due, your probably not seeing your total amount owed, going down very much. So should you be putting your extra money into your savings account, or should you be trying to get rid of that debt? Well I am a firm believer of both. Since interest rates are so high, you should always pay off your credit cards as soon as you can. But you should also be putting money into a savings account for that rainy day. If you plan on charging your credit card up again then there really is no point. How about lets cut them credit cards up! Keep just one. This way in an emergency, you will have it. But the one you keep, put it up somewhere. This way you will be less tempted to use it for that new pair of shoes you just have to have, that’s now collecting dust over there in the corner. Yup, I know, you just looked at them shoes right now, didn’t you?

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