Many people walk a thin line when it comes to paying their bills. They've figured out that they won't have a negative report on their credit history if they pay before the bill is 30 days late.
However, missing your payment by even a few hours can result in late fees and even over-the-limit fees. These can run up to $40 per incident, so you are looking at $80 for simply paying a bit late. This can cost you quite a bit of money if you do it with several bills throughout the year. Even though your credit score is safe, you are spending too much money on your late payment habit.
One way to avoid late payments is to pay your bills on the day you get them. This works for people who are not organized. As soon as the bill comes in the mail, you write a check or pay it online. Many people skip the bother and simply have the bills paid automatically from their checking account on the day before they are due. Many lenders offer a percentage rate decrease for having your payment automatically withdrawn from your checking.
If you are an organized person, it often helps to have a centralized calendar where you mark all of your appointments. Keep it in a place that you will look at every day. You simply mark all of your due dates for each of your bills on your calendar in bold ink. If you mail your bills, you should send them at least 2 weeks before they are due. This will insure that they arrive on time. If you pay your bills online, you should still try to add a couple of days to make sure that everything works out in time.
You can work with most creditors to establish a due date that works for you. For example, if you pay your mortgage on the 1rst of the month, you may not be able to pay your other bills for a couple of weeks. You can call your creditors and request that your due dates be rescheduled to the 20th of the month. Tell them that this would help you to pay each bill on time.
An added bonus is that when you have your bills due on the same date, you can sit down and pay them all at once and get it over with. You don't have to worry about multiple due dates. Make sure that you watch your bills to make sure that the due dates are what you requested.
You can also use a computer software program, such as Quicken or Money, to track your bills, due date and payment amount. These programs can be set to remind you to pay a bill. You have a list that you simply go down and check off as you pay.
You can use a listing method without having a computer. Simply purchase a spiral notebook or journal to use as your bill book. Write the month at the top of the page. Then list the due date, bill and amount owed. You prefill in the next couple of months. When unexpected monthly bills arrive, you add them to the bottom of the list. When you pay bills, you simply go down the list marking them off. That way, you know what has been paid and what hasn't.
Control Your Impulses
Sometimes it can be hard to walk away from a really good deal. Many impulse shoppers just can't stop shopping. Like any addiction, it has to be faced before it can be conquered.
How do you know if you have a shopping problem? Ask yourself the following questions:
* Are you surprised when you credit card bill arrives?
* Do you have no idea how much money you owe or have?
* Do you hide purchases from your spouse?
* Do you have more items than you can fit in your closets?
* Do you have things that you have never used?
* Do you come home from the store with things you never intended to purchase?
* Do you justify your purchases by saying that they were on sale or a great deal?
If you answered yes to the above questions, you probably are an impulse shopper.
Impulse shopping is a serious issue. When people are unable to save for the things that are important to them -- a house, retirement, a new car -- impulse shopping is often the root of the problem. It causes serious debt and can even lead to bankruptcy.
One of the best ways to counter the urge to splurge is to set specific financial goals that you can work towards. By working to create a budget and saving for your future you can gain control of more than just your finances. You gain control of your life.
But you don't have to totally deprive yourself. Once you have developed a working budget and are taking the steps to realize your goals, you can set aside money for occasional spending. This is your splurging fund and is just for you. Consider it a reward for taking back the control of your money.
Impuse spending can affect more than just your finances. It can take over your entire life. When you are looking to overcome the spending urge, you have to learn to differentiate your needs from your wants. This is a hard thing to do. We are so bombarded with messages that appeal to our psychological needs that we are often unable to realize that we don't "need" something.
One way to control your spending is to carry a small notepad in your wallet or purse. When you see an item you really want, write it on the card. Wait a week. If you still want the item and can find money in your budget for it, you can go back and purchase it.
Never keep more than three items at a time on your list. If you want to add another item, you must remove one first.
You can avoid temptation by simply not going into the store. If you are not going in with a list for specific items that you need, you shouldn't even go in at all. A lot of impulse spending is simply recreational spending -- something to do. You can avoid this spending by never putting yourself in the situation to begin with.
Use cash whenever possible. For example, when you go grocery shopping, leave your credit cards at home. Don't take in your wallet or checkbook. Carry only the cash you have allotted for groceries. This will prevent you from spending more than you have.
Controlling your impulses to spend simply takes practice. Your goals are essential. Every time you make a purchase decision, ask yourself how the purchase affects your goals. If you take the time, you can change your spending habits and afford the things you really want in life.
How do you know if you have a shopping problem? Ask yourself the following questions:
* Are you surprised when you credit card bill arrives?
* Do you have no idea how much money you owe or have?
* Do you hide purchases from your spouse?
* Do you have more items than you can fit in your closets?
* Do you have things that you have never used?
* Do you come home from the store with things you never intended to purchase?
* Do you justify your purchases by saying that they were on sale or a great deal?
If you answered yes to the above questions, you probably are an impulse shopper.
Impulse shopping is a serious issue. When people are unable to save for the things that are important to them -- a house, retirement, a new car -- impulse shopping is often the root of the problem. It causes serious debt and can even lead to bankruptcy.
One of the best ways to counter the urge to splurge is to set specific financial goals that you can work towards. By working to create a budget and saving for your future you can gain control of more than just your finances. You gain control of your life.
But you don't have to totally deprive yourself. Once you have developed a working budget and are taking the steps to realize your goals, you can set aside money for occasional spending. This is your splurging fund and is just for you. Consider it a reward for taking back the control of your money.
Impuse spending can affect more than just your finances. It can take over your entire life. When you are looking to overcome the spending urge, you have to learn to differentiate your needs from your wants. This is a hard thing to do. We are so bombarded with messages that appeal to our psychological needs that we are often unable to realize that we don't "need" something.
One way to control your spending is to carry a small notepad in your wallet or purse. When you see an item you really want, write it on the card. Wait a week. If you still want the item and can find money in your budget for it, you can go back and purchase it.
Never keep more than three items at a time on your list. If you want to add another item, you must remove one first.
You can avoid temptation by simply not going into the store. If you are not going in with a list for specific items that you need, you shouldn't even go in at all. A lot of impulse spending is simply recreational spending -- something to do. You can avoid this spending by never putting yourself in the situation to begin with.
Use cash whenever possible. For example, when you go grocery shopping, leave your credit cards at home. Don't take in your wallet or checkbook. Carry only the cash you have allotted for groceries. This will prevent you from spending more than you have.
Controlling your impulses to spend simply takes practice. Your goals are essential. Every time you make a purchase decision, ask yourself how the purchase affects your goals. If you take the time, you can change your spending habits and afford the things you really want in life.
Saving for Your Future
We all know that we should save money. But something so easy to say can be quite difficult to actually do.
Saving money is the basis of building your financial future. However, many consumers are putting it off one more day. Those days turn quickly into years of lost money. Without savings, the chances of meeting long-term financial goals and achieving financial security are quite miniscule.
In order to save money, you have to control your finances. Saving has nothing to do with how much you make. It has everything to do with how you control your money. If you have lots of credit card debt and live paycheck to paycheck, you are not in control of your money. And you aren't saving for the future either.
You have to spend less and save more. The two are tied together. In order to save, you have to start spending less.
And it all really isn't that difficult if you just start doing it.
First, sit down and write down your financial goals. Just ask yourself what you want from your money. Perhaps you would like to have a downpayment for your first home. Maybe you need a new car. Make long-term goals, such as retirement, and short-term goals, such as new living room furniture.
Give each goal a dollar amount and a time frame. In order to save, you have to know what you are saving for. You have to have a reason to put your money aside.
You will need to set up a seperate savings account. You probably know that leaving the money in your checking simply won't work -- you will spend it. Have a savings account that you can easily deposit or transfer money into. Many banks will set up an automatic withdrawal to your savings each month. This is a easy way to set it and forget it. It is paid just like any other bill.
Over time, you will see your money start to grow. This is rewarding and exciting. Most people become motivated to save even more. Saving and investing can become addicting in a good way.
You will find that a written budget is almost essential for saving money. You need to know where your money is going in order to make changes to the way you spend. A budget not only tells you where you are spending, but it can help you plan how you spend. Include into your budget a debt reduction plan, and your budget will make the most of your dollars. Budgeting is simple and doesn't require you to sacrifice your entire lifestyle. It is just a plan to get where you are going.
If you do have a lot of credit card debt, you should focus spending your saving money on eliminating that debt. It would be wise to put a small amount aside for emergencies, but the vast majority of the money you are saving right now needs to be going to your debt. The reason why is simple. Why pay 20% interest on a credit card debt when your savings are earning 2% to 10% in interest. You are spending more than necessary. Wipe out that credit card debt first. It will save you more in the long run.
Saving money is the basis of building your financial future. However, many consumers are putting it off one more day. Those days turn quickly into years of lost money. Without savings, the chances of meeting long-term financial goals and achieving financial security are quite miniscule.
In order to save money, you have to control your finances. Saving has nothing to do with how much you make. It has everything to do with how you control your money. If you have lots of credit card debt and live paycheck to paycheck, you are not in control of your money. And you aren't saving for the future either.
You have to spend less and save more. The two are tied together. In order to save, you have to start spending less.
And it all really isn't that difficult if you just start doing it.
First, sit down and write down your financial goals. Just ask yourself what you want from your money. Perhaps you would like to have a downpayment for your first home. Maybe you need a new car. Make long-term goals, such as retirement, and short-term goals, such as new living room furniture.
Give each goal a dollar amount and a time frame. In order to save, you have to know what you are saving for. You have to have a reason to put your money aside.
You will need to set up a seperate savings account. You probably know that leaving the money in your checking simply won't work -- you will spend it. Have a savings account that you can easily deposit or transfer money into. Many banks will set up an automatic withdrawal to your savings each month. This is a easy way to set it and forget it. It is paid just like any other bill.
Over time, you will see your money start to grow. This is rewarding and exciting. Most people become motivated to save even more. Saving and investing can become addicting in a good way.
You will find that a written budget is almost essential for saving money. You need to know where your money is going in order to make changes to the way you spend. A budget not only tells you where you are spending, but it can help you plan how you spend. Include into your budget a debt reduction plan, and your budget will make the most of your dollars. Budgeting is simple and doesn't require you to sacrifice your entire lifestyle. It is just a plan to get where you are going.
If you do have a lot of credit card debt, you should focus spending your saving money on eliminating that debt. It would be wise to put a small amount aside for emergencies, but the vast majority of the money you are saving right now needs to be going to your debt. The reason why is simple. Why pay 20% interest on a credit card debt when your savings are earning 2% to 10% in interest. You are spending more than necessary. Wipe out that credit card debt first. It will save you more in the long run.
Protect Your Budget With An Emergency Fund
Doesn't it always seem like when everything is starting to go your way, something breaks down? You start to get your feet back under you and then something knocks you down again. When it happens, it always costs you money.
An emergency fund can save you and your budget from disaster. Think about how the little emergencies affect your monthly budget. That $300 repair bill on your vehicle, a new $600 refrigerator, an unexpected trip out of town -- each one can hurt your ability to pay your bills if you are on a tight leash financially.
Think about what a larger emergency would do to you financially. What if you lost your job, became ill or disabled? What if you couldn't work for several months? What if your child became ill and you had large medical bills to face? What about major home repairs or a new engine in a vehicle?
Without an emergency fund, you could be forced to use a credit card. While this is an option that you may have to fall back on, it will take you years to pay it off and will cost you thousands in interest. Plus, you don't want to purchase daily items, such as groceries and gasoline, on your credit card. If you don't pay it back at the end of the month, you could pay for those groceries for the next three years.
If you have an emergency fund, you are able to survive an emergency with your finances in tact. Yes, you spend what you saved, but that is what it is there for.
Ideally, you should have three to six months worth of living expenses in your savings. Just start and keep working your way up. Personally, I don't believe that you can have too much in your emergency savings account. Or too little. So don't hold off because you don't have a lot to put back right now. Every penny will help in an emergency.
Keep your emergency savings in a separate account from your regular savings or checking. We keep ours in a different bank. This eliminates the temptation to withdraw some money for something we don't need. Keeping it separate makes it easier to forget about it until you need it.
An emergency fund can save you and your budget from disaster. Think about how the little emergencies affect your monthly budget. That $300 repair bill on your vehicle, a new $600 refrigerator, an unexpected trip out of town -- each one can hurt your ability to pay your bills if you are on a tight leash financially.
Think about what a larger emergency would do to you financially. What if you lost your job, became ill or disabled? What if you couldn't work for several months? What if your child became ill and you had large medical bills to face? What about major home repairs or a new engine in a vehicle?
Without an emergency fund, you could be forced to use a credit card. While this is an option that you may have to fall back on, it will take you years to pay it off and will cost you thousands in interest. Plus, you don't want to purchase daily items, such as groceries and gasoline, on your credit card. If you don't pay it back at the end of the month, you could pay for those groceries for the next three years.
If you have an emergency fund, you are able to survive an emergency with your finances in tact. Yes, you spend what you saved, but that is what it is there for.
Ideally, you should have three to six months worth of living expenses in your savings. Just start and keep working your way up. Personally, I don't believe that you can have too much in your emergency savings account. Or too little. So don't hold off because you don't have a lot to put back right now. Every penny will help in an emergency.
Keep your emergency savings in a separate account from your regular savings or checking. We keep ours in a different bank. This eliminates the temptation to withdraw some money for something we don't need. Keeping it separate makes it easier to forget about it until you need it.
Is There A Way To Get Out From Debt
Are you burdened with debts? Are you finding it harder each month to meet the payments on your debts? Is your frequency of late payment or miss payment increased? These are the signs of financial crisis; you need to do something to avoid dragging yourself into this finance disaster where your unbearable debts may course bankruptcy in the worst case.
While there may not be any instant debt solution, there are a number of things that you can do to improve your debt situation; let look at a few things which you can start immediately to improve your debt situation:
Change Your Behavior of Spending
The more you spend, the more you incur in debt. Like most of people, you may about to spend a lot of money for the holiday season. To get rid of debt, the first to do is to change your behavior of spending; this is the time to give yourself some deep though to the ways you spend your money, and to think about your financial priorities.
We live in a world where every retailer and marketer will try to extract every last penny from us, especially during the holiday season, retailers and marketer with their holiday's special offers are actually create a lot of impulse purchase of their consumer, you will actually spend more if your impulse purchases are not what your really needs. That's why we often find ourselves in debt.
If you can save up several hundred dollars over a period of time by controlling unnecessary spending, you can use the money to pay your debt and reduce your debt balance over the time and get rid of it in a predetermined period of time.
Budget Plan As Part Of Your Debt Solution
Budget plan is one of the important elements for debt solution, if you have a budget plan in place and you follow it strictly, you will have a better control on your money and your spending behavior.
You can start with looking at how much your current lifestyle has been costing you. Seeing how you have spent your money in the last year or two can help guide your budget plan for this year.
While there may not be any instant debt solution, there are a number of things that you can do to improve your debt situation; let look at a few things which you can start immediately to improve your debt situation:
Change Your Behavior of Spending
The more you spend, the more you incur in debt. Like most of people, you may about to spend a lot of money for the holiday season. To get rid of debt, the first to do is to change your behavior of spending; this is the time to give yourself some deep though to the ways you spend your money, and to think about your financial priorities.
We live in a world where every retailer and marketer will try to extract every last penny from us, especially during the holiday season, retailers and marketer with their holiday's special offers are actually create a lot of impulse purchase of their consumer, you will actually spend more if your impulse purchases are not what your really needs. That's why we often find ourselves in debt.
If you can save up several hundred dollars over a period of time by controlling unnecessary spending, you can use the money to pay your debt and reduce your debt balance over the time and get rid of it in a predetermined period of time.
Budget Plan As Part Of Your Debt Solution
Budget plan is one of the important elements for debt solution, if you have a budget plan in place and you follow it strictly, you will have a better control on your money and your spending behavior.
You can start with looking at how much your current lifestyle has been costing you. Seeing how you have spent your money in the last year or two can help guide your budget plan for this year.
Obtaining A Mortgage Can Be Simpler Than You Might Think
People obtain mortgages for various different reasons: for some, a mortgage is a form of investment or financial security, while for others it's a way to better manage their money or cut their outgoings. But whatever the motive, a mortgage is often a daunting financial venture - and one which should be considered with utmost precision.
Ask yourself what you want out of a mortgage plan: is your objective to manage debt or simply to raise capital for future financial security? Are you interested in enhancing a significant 'short-term' financial venture, or are your monetary aspirations more long-term? A foundation of reasoning will help you wade through the process of obtaining a mortgage - particularly in its early stages.
When you're ready to begin looking into mortgage plans, it's important to take your time and consider your options. To begin with, endeavour to understand what each type of mortgage offers; in doing so, you'll also find tailored - and potentially beneficial - plans within each 'type' of mortgage. Capital raising re-mortgages, for instance, suit people who require a short-term financial solution, while a debt-consolidation re-mortgage can help someone with significant debt get back on track with their finances. Whatever your needs, there's a suitable plan for you - all you need is to gain a bit of familiarity with the market.
Ask yourself what you want out of a mortgage plan: is your objective to manage debt or simply to raise capital for future financial security? Are you interested in enhancing a significant 'short-term' financial venture, or are your monetary aspirations more long-term? A foundation of reasoning will help you wade through the process of obtaining a mortgage - particularly in its early stages.
When you're ready to begin looking into mortgage plans, it's important to take your time and consider your options. To begin with, endeavour to understand what each type of mortgage offers; in doing so, you'll also find tailored - and potentially beneficial - plans within each 'type' of mortgage. Capital raising re-mortgages, for instance, suit people who require a short-term financial solution, while a debt-consolidation re-mortgage can help someone with significant debt get back on track with their finances. Whatever your needs, there's a suitable plan for you - all you need is to gain a bit of familiarity with the market.
Mortgage Calculators Easy As 1,2,3
First Mortgage Trust have developed a number of diverse calculators over the years not only to improve the quality of their clients online experience but also in response to client, consumer and third party requests. Among the calculators are Mortgage Payment Protection, Bridging Loans, Secured Loans, Buy To Let Rental and Mortgage Calculator, Affordability and budget, How much can I borrow, monthly mortgage payments for both interest only and repayment, flexible mortgage calculator and three conveyancing calculators for purchase, sale and purchase and remortgage.
The benefit of online mortgage related calculators are many and varied. First Mortgage Trust's extensive collection of online calculators allow client retention and leaves them in complete control. not only to compare current outgoings but also for anticipated costs and savings. Every cost associated with selling, purchasing and remortgaging is available and for the client to interact with. Mortgage calculators help to create a sticky website.
Calculators are of benefit to solicitors, Independent Financial Advisers, mortgage brokers and those involved in residential and commercial real Estate. The calculators can be used both online and offline for ease of reference to professionals. Other benefits are client and consumer retention as website visitors no longer have to leave a professionals site to confirm or check figures.
For Financial services web designers, webmasters and search engine optimization this becomes invaluable keyword rich content and is an essential must have for any associated site. With around 500,000 searches every month in the US & UK for 'mortgage calculator' this confirms the demand for information required by online clients.
First Mortgage Trust's conveyancing purchase and sale & purchase calculators include a database of approximately three hundred and seventy local authority search fees. First Mortgage Trust update this database annually. Although local search indemnity insurance is now popular amongst conveyancing solicitors it must be remembered that not all lenders will allow this and may well insist on a local authority search. Clients can also work out stamp duty, another substantial cost in the home buying process along with many other functions.
With the ever changing landscape of lending and underwriting criteria it is important that the consumer have calculators available to them. Many lenders have now increased income multiples to as much as 5.6 joint for high credit score, high earners. Before a client proceeds with a mortgage it is important that they have an idea of borrowing capacity, after establishing borrowing capacity they can further confirm monthly figures to confirm affordability.
The benefit of online mortgage related calculators are many and varied. First Mortgage Trust's extensive collection of online calculators allow client retention and leaves them in complete control. not only to compare current outgoings but also for anticipated costs and savings. Every cost associated with selling, purchasing and remortgaging is available and for the client to interact with. Mortgage calculators help to create a sticky website.
Calculators are of benefit to solicitors, Independent Financial Advisers, mortgage brokers and those involved in residential and commercial real Estate. The calculators can be used both online and offline for ease of reference to professionals. Other benefits are client and consumer retention as website visitors no longer have to leave a professionals site to confirm or check figures.
For Financial services web designers, webmasters and search engine optimization this becomes invaluable keyword rich content and is an essential must have for any associated site. With around 500,000 searches every month in the US & UK for 'mortgage calculator' this confirms the demand for information required by online clients.
First Mortgage Trust's conveyancing purchase and sale & purchase calculators include a database of approximately three hundred and seventy local authority search fees. First Mortgage Trust update this database annually. Although local search indemnity insurance is now popular amongst conveyancing solicitors it must be remembered that not all lenders will allow this and may well insist on a local authority search. Clients can also work out stamp duty, another substantial cost in the home buying process along with many other functions.
With the ever changing landscape of lending and underwriting criteria it is important that the consumer have calculators available to them. Many lenders have now increased income multiples to as much as 5.6 joint for high credit score, high earners. Before a client proceeds with a mortgage it is important that they have an idea of borrowing capacity, after establishing borrowing capacity they can further confirm monthly figures to confirm affordability.
Are Guaranteed Approval Credit Cards Right for You
Not a lot of people have heard about guaranteed approval credit cards. This is because these cards are a rather new idea when it comes to credit cards for people with bad credit or no credit. Those who have tried to get credit for the first time or tried to get credit with a bad credit history are aware that it is a difficult, if not impossible task.
Credit card companies offer cards to those who are most likely to pay for them because they do not like to risk the chance of not getting paid. Fortunately, they came up with guaranteed approval credit cards to help those who are in need of credit.
Traditional credit cards and guaranteed approval credit cards are quite similar. Both of these types of cards have a major credit card company logo and can be used wherever the companies’ credit cards are accepted. Unlike secured credit cards, these cards do not require a deposit or the person to open a savings account.
A person usually has to agree to upfront fees and charges made to the credit card in order to get a guaranteed credit card. The person also has to agree to let the credit card company charge a processing fee and annual fee to their card.
The initial credit limit is usually low and the remaining balance will be less than $75, once these fees are charged to the card. This entails that a card holder has to pay off these fees in order to really be able to charge much to this type of credit card.
Credit card companies offer cards to those who are most likely to pay for them because they do not like to risk the chance of not getting paid. Fortunately, they came up with guaranteed approval credit cards to help those who are in need of credit.
Traditional credit cards and guaranteed approval credit cards are quite similar. Both of these types of cards have a major credit card company logo and can be used wherever the companies’ credit cards are accepted. Unlike secured credit cards, these cards do not require a deposit or the person to open a savings account.
A person usually has to agree to upfront fees and charges made to the credit card in order to get a guaranteed credit card. The person also has to agree to let the credit card company charge a processing fee and annual fee to their card.
The initial credit limit is usually low and the remaining balance will be less than $75, once these fees are charged to the card. This entails that a card holder has to pay off these fees in order to really be able to charge much to this type of credit card.
Quiz: Are You A Shopaholic?
A lot of people enjoy shopping, but for some people the enjoyment of shopping goes beyond mere bargain hunting and can be part of an addiction. There are many names for this addiction.
Excessive spending is known as compulsive spending, spending addiction or being a shopaholic. What it boils down to is recognising whether your spending habits are out of control. If you get urges to spend that you are unable to control then you may be a shopaholic or spending addict.
Shopaholic Quiz:
Read the following list and count the number of statements that apply:
* Being unable to pass up a "bargain"
* Making impulsive purchases on a regular basis
* Leaving price tags on clothes so they can be returned
* Not using items you've purchased
* Lying about the cost of purchases
* Using shopping as a "pick me up"
* Buying luxuries before necessities
* Trying unsuccessfully to curb shopping impulses
* Spending more time or money shopping than you intend
* Devoting a large amount of time shopping and planning future shopping expeditions
* Spending to an extent that interferes with your life (excessive debt) or relationships
* Experiencing withdrawal symptoms from shopping
* Giving up other social or recreational activities to shop
Results:
So how did you go?
If you agreed with 5 or more statements, it's highly likely you are a compulsive shopper or shopaholic. If you agreed with 3 or 4 statements, then you are potentially at risk. Now is a good time to monitor your spending!
If you believe that shopping is in anyway causing self-harm or statement 11 is true (shopping interferes with your life), seek help.
Excessive spending is known as compulsive spending, spending addiction or being a shopaholic. What it boils down to is recognising whether your spending habits are out of control. If you get urges to spend that you are unable to control then you may be a shopaholic or spending addict.
Shopaholic Quiz:
Read the following list and count the number of statements that apply:
* Being unable to pass up a "bargain"
* Making impulsive purchases on a regular basis
* Leaving price tags on clothes so they can be returned
* Not using items you've purchased
* Lying about the cost of purchases
* Using shopping as a "pick me up"
* Buying luxuries before necessities
* Trying unsuccessfully to curb shopping impulses
* Spending more time or money shopping than you intend
* Devoting a large amount of time shopping and planning future shopping expeditions
* Spending to an extent that interferes with your life (excessive debt) or relationships
* Experiencing withdrawal symptoms from shopping
* Giving up other social or recreational activities to shop
Results:
So how did you go?
If you agreed with 5 or more statements, it's highly likely you are a compulsive shopper or shopaholic. If you agreed with 3 or 4 statements, then you are potentially at risk. Now is a good time to monitor your spending!
If you believe that shopping is in anyway causing self-harm or statement 11 is true (shopping interferes with your life), seek help.
Balancing Your Checkbook
Balancing your checkbook is little more than making certain you and the bank both agree on what's happened to your bank account each month.
The bank provides a monthly statement of all transactions during the period. It is important that you balance your checkbook by comparing your checkbook register to the bank statement in a timely manner in order to:
* correct errors by the bank;
* find your own errors and know how much money you actually have
Reconciling your account register to the bank statement is a matter of comparing deposits and withdrawals and adjusting the bank statement for outstanding items not yet reflected by the bank. This process will go more quickly and smoothly if you make sure your bank register is up to date. Be sure all of your transactions are entered -- including direct deposit, ATM transactions, and debit charges -- before you start trying to reconcile to the bank statement. Here is a step by step:
* 1. Start with the bank balance from the bank statement
* 2. Determine if you have made any deposits that do not appear yet on the bank statement. List and total these "deposits in transit."
* 3. Determine if you have any outstanding checks (checks you have written and recorded in your checkbook but have not yet come through the bank). Make a check mark by each item that has cleared the bank as you match them up. When you finish going through the checks, the ones without a check mark are your outstanding checks. List them in the blanks under "outstanding checks" on the form and total the amount.
* 4. Add the bank balance (step 1) to the total deposits in transit (step 2), and subtract the outstanding checks (step 3). This is your adjusted bank balance. If it matches your checkbook register ending balance, you are finished.
* 5. If adjusted bank balance does not match your checkbook register, it may differ by bank fees or interest payments shown on the bank statement that are not yet entered in your checkbook. You will need to enter those in your checkbook now and list them below your adjusted bank balance above. Update your adjusted bank balance and see that it matches your check register ending balance. If they do, you are finished.
* 6. If you still don’t balance, you have missed something. You could be missing a transaction that the bank shows, have a transaction the bank does not show, or your transaction amount could be different from the amount the bank has for a transaction. You could even have a math error in your balance. Go back and check it all out again.
The bank provides a monthly statement of all transactions during the period. It is important that you balance your checkbook by comparing your checkbook register to the bank statement in a timely manner in order to:
* correct errors by the bank;
* find your own errors and know how much money you actually have
Reconciling your account register to the bank statement is a matter of comparing deposits and withdrawals and adjusting the bank statement for outstanding items not yet reflected by the bank. This process will go more quickly and smoothly if you make sure your bank register is up to date. Be sure all of your transactions are entered -- including direct deposit, ATM transactions, and debit charges -- before you start trying to reconcile to the bank statement. Here is a step by step:
* 1. Start with the bank balance from the bank statement
* 2. Determine if you have made any deposits that do not appear yet on the bank statement. List and total these "deposits in transit."
* 3. Determine if you have any outstanding checks (checks you have written and recorded in your checkbook but have not yet come through the bank). Make a check mark by each item that has cleared the bank as you match them up. When you finish going through the checks, the ones without a check mark are your outstanding checks. List them in the blanks under "outstanding checks" on the form and total the amount.
* 4. Add the bank balance (step 1) to the total deposits in transit (step 2), and subtract the outstanding checks (step 3). This is your adjusted bank balance. If it matches your checkbook register ending balance, you are finished.
* 5. If adjusted bank balance does not match your checkbook register, it may differ by bank fees or interest payments shown on the bank statement that are not yet entered in your checkbook. You will need to enter those in your checkbook now and list them below your adjusted bank balance above. Update your adjusted bank balance and see that it matches your check register ending balance. If they do, you are finished.
* 6. If you still don’t balance, you have missed something. You could be missing a transaction that the bank shows, have a transaction the bank does not show, or your transaction amount could be different from the amount the bank has for a transaction. You could even have a math error in your balance. Go back and check it all out again.
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