Track your coins!
In case you didn’t know, ‘coins’ is slang for all money, not just the metal coin. “My money’s funny” and “My coins aren’t right” are just ways of saying you can’t afford it. So this is your end of quarter reminder to be hyper-aware of how and on what you spend your money. Track your coins, whether you’re using cash or debit, and no matter how much or how little of it you have. Keep track of what you’re spending your money on and how much of it you’re spending instead of saving it.
By now you know an adult who has spent more than they saved, gotten themselves into debt, or avoids phone calls because they know it’s someone calling looking for money they are owed. Hopefully, you aren’t that adult. I learned my credit card lesson and about debt the hard way when I was mailed my first card right after high school. It took me years to recover from being so financially illiterate and not knowing how to handle money and the truths about credit cards. I don’t want that for you.
I know that money is one of those subjects that schools are just now starting to teach about in depth and I’m glad about that. But I also know that there are a lot of things that many of you dorks don’t know and I want you to avoid learning them the hard way. So here’s a #protip from me:
ALWAYS SAVE FIRST (even if it’s just $1, save before you spend). Pay your bills, buy necessities and a few wants, give some away to people or organizations in need, and save everything that’s left. Get hype about seeing the number in your bank account increase instead of being hype about what you can buy.
A #protip from financial advisor Dave Ramsey that I wish I’d of known sooner:
“Staying away from debt means you’re finding other ways to pay for stuff and saying no to what you can’t afford. As a result, your wealth will grow through saving and investing.” “Over time, growing your wealth and eliminating your debt will mean you have a lot of money and not a lot of bills… it’s a lot better to have a high bank account balance than a high credit score!”
#cointracker16 = track your coins starting this year. Track your spending, cash, debit, gift cards, etc., no matter how much or how little money you have.