Dr. Merchant shared tips from one of her posts : 7 Tips for Organizing Your Finances.
She not only encouraged us to discover our spending triggers (we all have them!) but she encouraged us to understand the importance of knowing what our expenses are each month and setting a saving plan in place.
Ideally we should all have 3-6months worth of living expenses saved in case of emergencies as well as a stocked pantry that can feed your family for a few months if need be!
The great advice offered that could help you change your financial future? Have a clear picture of your current financial situation, create a spending plan for each pay check and save consistently.
One of the highlights of her presentation was pointing out how much we all spend on food each week. A simple exercise she shared was to make 3-4 columns on a sheet of paper with the headings of meats/fish or fruit, vegetables, grains. Under each of these headings quickly write down 5 of your favorite things to eat under each category. . . read each line across from each category and voila! You now have a whole weeks worth of dinners.
What are ways you and your family save money?