Dune Ventures: 10 Ways to Take Control of Your Finances
Maybe you\’re stuck in a perpetual cycle of debt, or maybe you earn too little to maintain your standard of living, perhaps you\’re trying to save money to buy a home. No matter what your goal is these 13 tips will help you take control of your finances, and hopefully help you reach the goal that you desire.
1. Read books about personal finance
One tip that I learned when I was very young from a very wealthy man, was read books about finance. You can learn how to build an investment portfolio, how to manage money, and more. The internet is great, but books are better.
2. Start budgeting
The easiest way to change your finances is to budget. If you don\’t have a budget, then you are probably spending money where you shouldn\’t be spending money. Create a plan for how you want to spend your money each month. Begin by writing down your income and all your expenses, subtract the expenses from the income to determine spending. If you spend more than you made, you need to fix your budget by cutting out unnecessary expenses.
3. Cancel cable
Canceling cable is a great way to save a substantial amount of money each month. There are plenty of streaming options and if you share them with friends you can save money there as well.
4. Stop eating out
Challenge yourself to not eat out for a month and see how much money you have. I was eating out a couple times a week with friends, and then Covid-19 hit, and I stopped. The amount of money I was able to save was insane. If you\’re in the office bring a bagged lunch to work with you instead of eating out.
Pro Tip: Splurge occasionally at a nice restaurant.
5. Pay with cash
Stop using your credit cards and pay with cash only. This will help you make sure that you\’re staying on budget and not going over.
6. Grocery shop on your own
Make a list of the meals you\’re going to make and go to the store with cash to buy them. Using a delivery service will cost you extra money, and remember we are trying to save money here.
7. Start an emergency fund
You never know when you\’re going to need a little extra cash for something. Always make sure you have an emergency fund of at least 1000 dollars.
8. Pay off your debt
Work on getting your debt paid off as quickly as possible. List your current debts, credit card, student loan, car loan…etc. Paying the minimum amount will not get you out of debt you need to go over that amount in order to make a dent in your debt.
9. Create a financial plan
You have a budget, but now you need a plan for the future. If you don\’t feel like this is something you can figure out on your own companies like Dune Ventures can help you figure out what steps you need to take.
10. Seek additional sources of income
If you\’re not making enough money, maybe it is time for you to look for new opportunities that will help you generate more income. If you\’re sticking to the budget, not spending money on things you don\’t need and you\’re still having issues making ends meet, maybe it\’s time to look for a higher-paying job or getting a second job.
Fashion meets Food 