Monday Check-Up: Back To Basics

Donell Edwards, Blogger

About Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service.  He is also a professional speaker, freelance writer, and entrepreneur.

 

 

We’re Celebrating Financial Literacy Month

 

Know Your Money
Monday – April 14, 2014

Knowing Your Personal Finances
Monday Check-Up:  Back To Basics
By Donell Edwards

 Good morning everyone.  I hope you had a wonderful weekend of relaxation, revitalization, and meditation.  Also, I hope that you are learning not to allow the weekends to gain the mastery over you in regards to allowing spending to spiral out of control as you celebrate the end of another week.  Weekends can be treacherous when it comes to spending.

Well, today we get back to basics.  We have devoted two weeks to talking about the importance of making sure withholdings are adjusted properly so that taxes are not overpaid, and recognizing the need to use any tax refund that is received in wise ways.  Also, last week we were laser focused on promoting Financial Literacy Month and provided some great information and resources to help with personal money management.

So today, we get back to the basics of our plan to help improve personal money management.

By now you should be familiar with the process up to this point, especially if you have been following this blog for a while.

So our Monday Check-up today is very brief and is just a review of some basics to remind you of what you should be doing.

How are you doing?

• Are you monitoring your spending closely and regularly every day?
• Have you prepared a practical and realistic budget and are you following it rigidly?
• Are you working to overcome credit card addiction?
• Are you learning to be willing to change?
• Are you facing reality about your personal money management and have you overcome any denial that you may have had about your need for help (if you need help)?
• Are you changing your attitude and your behavior about spending and money management overall?
• Are you learning to think before making a purchase, to see if the purchase is really necessary and if it can be afforded, instead of putting the purchase on a credit card or spending money that should be used to pay bills and stressing about how to pay for the purchase afterwards?
• Are you learning to think about using a cash budget and paying now instead of charging everything?
• Do you have a plan, and are you working to eliminate debt and getting into position to save?
• Have you begun to watch the weekends and think ahead about your weekend activities to ensure that you avoid wasteful spending and spending binges?
• If you are getting an income tax refund have you already got a plan to make good use of the money?  See some suggestions below.

 

Three Ways Your Tax Refund Can Help Your Finances 
http://tinyurl.com/vanguardtaxrefund

 

Here are some other resources we recommend if you have not already taken advantage of them:

Assess Your Financial Situation Quiz
http://www.financialliteracymonth.com/30Steps/Step2.aspx

 

Take the pledge: Thirty Steps to Financial Wellness
http://www.financialliteracymonth.com/30Steps/Step1.aspx

 

 

If you have questions or need help we are just an email away.  Send your questions to Info@KnowYourMoneyGlobal.com

 

We Would Like To Hear From You.  Are There Any Brave Souls Out There Willing To Share?
If you would like to share with our readers how “bad” spending habits have affected you, anonymously or otherwise, for our upcoming special, “Confessions Of Spendaholics,” please send your experience to comments@knowyourmoneyglobal.com.

 

Follow us on Twitter for more information about personal money management
https://twitter.com/Kn0wY0urM0ney

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