By Patrick Ober
Managing your money can be very hard sometimes. That is why it is important to learn how to budget your money wisely. Here are a few tips to help you make good decisions about how you spend and save your money every month.
Know the Difference Between What You NEED and WANT
A great budgeting rule is to make sure you spend your money on what you need (like a place to live, food to eat, or clothes to wear) before you spend it on what you want (like tickets to a concert, going out to dinner, or a new TV). Make a list of things you need and want so you know the difference and spend money on your needs first!
Be Careful Using Credit Cards
Credit cards can be used to buy things, and many people use them. But if you do not pay your entire bill every month, the credit card company might charge you interest, which is additional money that you must pay. Only use a credit card if you also have the money to pay for it in your bank account.
If You Have a Bank Account, Check it Often!
Many people do not check their bank account often, and that is a mistake! It is a good idea to check your bank account daily so you always know exactly how much money you have; know how much you can spend on your needs and wants; and make sure your money is not being taken by someone through a scam or fraud.
If you want to improve your money management or other independent living skills, the Center for Independent Living Options can help! Contact Disability Rights and Advocacy Specialist Patrick Ober at pober@cilo.net or (513) 241-8046. Visit cilo.net for more information.
