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Welcome back happy Monday everybody -- -- he's joining us from Atlanta paid any.
You learn area and did -- teasing you I'll show you -- -- up service simple look at financial wisdom.
So -- some ways maybe five different ways to -- your finances back on track now that this summer's over and -- we just.
Sponsored and -- what would you say make a list before you go up thanks.
-- had absolutely but that number one track your spending I think that's for so many people get into trouble -- I've talked to people may say I don't have any money I don't have money to invest their money for this.
Yet they have the newest iPhone or they have not Coach bag and I say well you do have money you're just choosing -- -- -- in this way and I think that's the best way for for someone to gain control.
-- the walk around and I'm not gonna say SA right outside going to be easy but walk around for one month but that piece of paper and pencil.
And write down everything you spend and then at the end of the month you're able to -- that you wrote the numbers down you bought it.
So the numbers are in line in any conceive how I went to dinner five times -- -- -- the movies or whatever might be because.
I think gives them not some generic advice you know latte factor don't -- coffee out her this and that but it doesn't make it personal so when you personalize that you track your spending.
It's personal to yourself and then you're able to come up with the spending plan and see how much money you need to operate on a week to week basis and that -- that and point number two.
Is once you're able to create that spending plan or that budget -- Music cash only what what I recommend is let's just say you need 250 dollars for the week -- this probably wouldn't be for the mortgage to the carpet but those miscellaneous things that you during the week grocery shopping entertainment.
Good AT and once -- -- every Friday pull out that exact amount in cash.
Then let's just say gets to be the next Wednesday your friends say let's go out tonight but you don't have any cash left.
This works going to be hard but you're gonna say you know what I'm an -- -- rain check on that and off the wait for Friday to do it.
But like I -- I know it's easier said than done but -- he is cash solely then you're preventing yourself from overspending.
And that gets us that to the point embroidery.
Any question on point number two I love the idea.
However there what about you know highlight just let my credit cards to get miles and points with my airline right what he stated people who who say we understand -- in -- key right now at a healthy stand mind but.
We love the -- we get whether credit and debit cards but -- data that.
Yes it's probably not a one size fits all but.
I would say there're more people not like you more people got into trouble because of credit cards that have benefited from that -- rewards they get from them seeing you have didn't know yourself if you're someone that is really good with the credit card you pay off the balance every single month -- -- -- -- -- -- rewards.
But I'm kind of speaking of those people they do struggle with it that I date -- use that plastic for things that they know they can't afford.
But they still do it and then when the bill comes they don't have the money to pay fort and then they're hit with that interest and man once you get behind -- credit card interest it's very very hard to dig out from that -- so yeah.
You have to get to know yourself here is like -- -- someone like yourself that's good with money that you pay off your bill every month -- go or yes -- can use the rewards but if you are struggling that's right thinking need to go to the cash only that may not be forever but in speaking gained control of -- Here -- heparin import number three.
Do I didn't care and money he can Danny -- run at a time we wanna make sure we get all your -- -- Well here's a good thing about using -- there -- studies that show that most people you'll spend twelve to 18% more of use credit compared to cast most of us have an emotional attachment to the green bills we know how hard we work how much sweat went into earning it.
We don't get the same feeling my swiping a piece of plastic through machine.
Excellent points Danny and I want -- and break here with we have our -- way into the web show and tell us that they bank.
And viewer called crash she says Lauren can you -- any cuff key to please send his -- to congress and mandatory reading.
-- I know I mean basically.
Spend less -- urinary indicates the government spend less than you have come in ahead.
Thank you so much for joining us this Monday excellent tips I'm gonna take some of them it's going to be hard to wean myself off the credit card though we're showing you web site.
We appreciate your time of the day there and in Atlanta --
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