Spendster.org

Happy New Year, Spendsters! (And you know who you are) It’s resolution time. To keep things easy, you just need one for 2009.

Manage your finances!

Despite the gloomy headlines in recent months, the world economy is not coming to an end. You just need to make sure yours doesn’t. No bailouts for you.

So, where to begin…

• Put together a monthly spending plan of all your known expenses. Housing, car payments, food and clothing etc. You can use this calculator to guesstimate expenses.

• Know your take-home income. Hopefully, money put into a 401(k) is among the deductions on your pay stub. Planning on getting a raise? Budget like you won’t. If you do, bonus!

• Set aside a few dollars each month for a “Rainy Day” fund. Trust me, it will rain. Anticipate the unanticipated.

• In 2009, Frugal Chic will continue to be fashionable; especially avoid impulse buying.

• Look at your current spending and decide where you can save. Trust me, brand name and generic brand corn flakes taste the same. If you buy a morning cup of coffee, pay for the coffee, not the décor. Challenge yourself to find places you can save each day, week, or month. This isn’t about giving up anything, just paying less for it. Just like dieting doesn’t mean starving yourself.

• Check your budget each month. If you’re disciplined enough, you should have a few dollars left over. Maybe a lot of dollars. Congrats! Treat yourself to a night on the town and revel in your thriftiness!

Spendsters are so 2008. Being frugal doesn’t mean you can’t have fun. Follow the above tips and you can do both.

Contributed by: LitterMan