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How Come They’re Rich and I’m Not?

How to use your computer to manage your money.  This class covers effective ways to find answers to your financial questions and difficulties.  It will train you in a few weeks to use money in ways that benefit you.  This study will attempt to enlighten you regarding attitudes about money.  In each step we will use the computer with free software to make the process easier.  Do you dare to invest your money?  Is it safe to take your money out of savings accounts and invest it elsewhere?  What can you expect from other investments?

Class #1 October 28, 2004

1. Sign up now to enjoy My Yahoo!
2. Personality I.D.®
3. Budgeting on a fluctuating income
4.  Budgeting
5. Putting more money in your pocket
6. Budget Basics
7. Controlling Your Spending

8. Create a Budget

   It's easy to get into a cycle of overspending and unnecessary debt. But there's salvation in the form of a humble money management tool — a budget. If you create a budget — and stick to it — you can take control of your financial future. Print out our Cash Flow Worksheet (PDF)1 and follow the steps outlined below: 1. Track your monthly spending For a month, record every dollar you spend, whether it's by cash, check, or credit card. 2. Compare your after-tax income with your expenses The key is always to spend less than you earn. What does your bottom line look like? Positive cash flow. Do you have money left over? Then you're spending less than you make and are probably in good shape. You could apply the extra money to one of your credit cards or other debts, or increase your savings or investments. Negative cash flow. If your expenses are more than your income, figure out how you can cut back on your expenses. If you can't find ways to cut expenses, then step back and evaluate what you currently view as "necessities." They may actually be luxuries that you can live without. 3. Save for the future It's a good rule of thumb to have three to six months' worth of living expenses in emergency savings. Once you've figured out your monthly budget — and seen that you stick with it — try to save three to six times that much in a savings account or investment you can easily access. That way if you lose your job or have a medical emergency, you don't have to max out your credit cards or skip loan payments. If you're trying to save for a big purchase, like a house, you'll probably need to save more. See where you can cut back further on expenses, but don't make a plan so strict that it's impossible to follow. It's better to stick with a plan that takes longer than to try to save so much at once that you don't stick to your budget.

    

•Collect your favorite parts of Yahoo! all in one place.Track your stocks and favorite sports teams.See if you have new emails or how many friends are online.Pick the news you want to see and much, much more.All accessible from one simple, personalized start page

Yahoo! Account Information Help

Quicken^® software products

Crown Financial Ministries

       Budgeting on a fluctuating income
       Budgeting
       Investing

Managing your cash and credit Checking Account Basics ATM Cards Debit cards Getting a Loan Credit Cards
Paying bills and taxes Understanding Bill Payment and Late Fees Paying Taxes File your tax return, increase your paycheck
Saving and investing Basics of Savings Accounts Individual Development Accounts Basic Investments
Putting more money in your pocket Budget Basics Controlling Your Spending
Controlling your debt Getting Help with Debt Your Credit Rating