Budget, Save, Credit Cards & Loans: Want to have some more financial freedom?

Posted by Kent Braaten on Wednesday, June 6th, 2018 at 9:05am.


I think all of us would like to live a little more comfortable, take some more time off, and save for our retirements. By following a budget, saving for your future, eradicate your debt and take away the stress and have some more security in your life. The biggest mistake most of us is because we qualify to finance things such as furniture, motorcycles, boats and use credit cards that we can afford it.  But the truth is if you have to finance most things you can't afford them.  Here are some tips that are meant to help you save and live a more comfortable life.


1) Pay yourself first:  Set up an automatic transfer to move a percentage from every pay check to a savings account.

2) Never be afraid to ask for a discount: Asking for discounts on goods and services can add up to a lot of savings long term.

3) Don't impulse buy:  When you find something you take some time to let it settle in and wait a day or two to decide whether or not if it is a necessity.


1) List all of your expenses that are fixed on a monthly basis.

2) List all your expenses that are not needs but are wants over the previous year.

3) Put expenses in order of importance to you and your life style.

4) Compare your expense to your net income to see if you are living within or above your lifestyle or if their are any spending habits that need to be changed.

Credit Cards & Loans

1) If you have multiple credit cards make larger payments on the higher interests ones to pay them off first.  In the long term this will save you money.

2) Loans are usually calculated with compound interest, which is interest added to the outstanding principal every month.  If you can afford to make larger than the minimum payment it could help you pay the loan off faster and pay less interest.

3) One loan most of can't avoid is borrowing to purchase a property.  But you can save on your mortgage by making extra payments, and shopping around for the best mortgage rates.


Some good ideas are to set goals, ask for help or financial advise and track your expenses.  By following a few simple tips you will be able to save money, and create more comfortable life style.

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