Get your weekly 15 second tip fix. Destroying your debt doesn’t have to take hours. Watch our 15 second financial tips and then be on your merry way. These tips also air on KAKE-TV’s (ABC, Wichita, KS) regularly. More are added each week.
Follow along on social media at #moneypossible.
Planning & Setting Goals
Make a commitment to spend less than you earn. Make a list of your goals, making them as specific as possible. Picture your goal. Track your progress.
3 Step Budgeting
Step 1: Identify how you’re spending your money now. Step 2: Evaluate your current spending and set long-term financial goals. Step 3: Track your spending monthly and adjust if necessary.
Tracking Your Spending
You can’t save money, or pay down your debt, if you don’t know what you’re spending. Download an app or go old-school with paper, pencil and a worksheet.
Smart Uses For a Tax Refund
The average tax refund has been around $3,000. Don’t blow it. Pay off credit card debt. Boost your savings. Build your retirement fund. Or even invest in your home.
On Time Payments
By making credit card payments on time, you can save $30-35 per month in late fees which could free up an extra $500 a year.
Wasteful spending is something that most people don’t think about. Things like buying name brand instead of a “just as good” generic brand or missing bill payments and paying late fees can add up.
Debt Warning Signs
While it may seem that your debt crept up on you, there are warning signs like revolving balances on your credit cards, no emergency fund or relying on payday loans to cover monthly bills.
Basic Money Management Skills
Get organized. Prioritize your debt. Track your spending habits. Create a monthly budget and stick to it. Make sure you ‘pay yourself.’