It is easier to be content when your finances are in order!
Don’t spend more than you make.
Before I purchase anything, I ask myself, “Do I want this or do I need this?”
Keep track of your household budget. At the beginning of the year, figure out your average net income and keep track of your expenses. Try to make a budget and stick to it. Include a deposit into a savings account – this amount can be adjusted each year, and lowered if necessary, but it is important to have a cushion to keep your stress level low.
When I opened my first on-line store I was not working. I used materials that I had on hand. I gave myself money out of my birthday and Christmas allotment from our budget. I kept track of my sales, subtracted all the fees, and made sure not to spend more on supplies than what I had made. And I did still have money left for a present under the tree!
I paid cash for my new Jeep Cherokee in 1988. The salesman asked me how I could afford to do it. I told him that I saved up the money, knowing I would need a car. It was only on the way home that I realized that he probably owned a VCR, and I did not. I did eventually buy a VCR, but at the time I knew my need for a four-wheel drive vehicle was top priority.
Of course, there are times when unexpected expenses arise, like when the washing machine broke. We had just purchased our van to have converted for my wheelchair so that I could continue working, and our savings were depleted. At times like this, I do use a credit card. I use the card with the lowest interest rate and pay off the balance as soon as possible, minimizing the finance charges.