Saving Made Simple!

Does saving money always seem to be a struggle? Is it easy to say you want to save but difficult to follow through? Do you feel you don’t make enough to save? Well you’re not alone, the answer to these questions are “yes” for many of us. It’s important though to develop a system for saving, and one that fits your individual financial needs. There’s no right or wrong amount of money to save, and it doesn’t matter how much you save. Saving a little over time will eventually add up to a lot! So if saving has been a challenge for you, the good news is that there are simple steps you can follow to get you on track to building a savings fund.

1. Decide To Save. The ability to save money begins with first making a decision to do so. It doesn’t just automatically happen.
2. Budget For It. If you don’t plan to save, it will never happen! Treat your savings like a bill, only you’re paying yourself. Give it the same level of importance as your cable bill, car payment, or any other bill you pay.
3. Have a Purpose. Whether you want to buy a new wardrobe, make a down payment on a car, purchase the latest and greatest technology gadget, or just have an emergency fund, set a purpose for your savings. Setting a goal to strive for will give you that boost of motivation to stay on track.
4. Set a Routine Saving Schedule. This can be weekly, bi-weekly, monthly, or whatever works for you. Following a consistent schedule will help you develop a habit of saving. For convenience, automating your savings via payroll deduction is another great way to routinely put away your cash.
5. Hands off! Resist the temptation to spend your savings by keeping a visual of what it is you’ve already purposed to save for.  This will keep you accountable. When the temptation comes to dip into your stash, you’ll be more prepared to resist that urge.

So follow these simple tips and soon you’ll be watching your savings grow!  Happy Saving!

Be Your CFO!

So what does the acronym CFO mean? Mainly used in the corporate world, it stands for Chief Financial Officer. The role of the individual who holds this title is responsible for managing the financial matters of a company or business. In a nutshell, this entails allocating revenues appropriately, minimizing expenses and utilizing resources effectively, amongst other tasks, with an ultimate goal of maximizing profits. Although the use of CFO has been limited to corporate America, it is a universal term that can be applied to personal money management as well. Your goal as manager of your finances is to have a positive cash flow at the end of the month, by managing your earnings wisely.

My passion for personal financial education coupled with almost 20 years working for state government inspired the name of my blog. Today I challenge you to take a new approach to your finances…Be Your CFO!

Welcome!

Greetings, and welcome to my blog! Here you will find all things finance…information, resources, tools and tips to help you become a better steward of your money. My goal is to educate, empower and motivate everyone who reads my posts to take action on improving their financial situation. So visit the site as often as you can, and I look forward to sharing quality, effective and useful information that will assist you in living the financial life of your dreams!