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Why is Budgeting Important?

Budgeting is important because without budgeting you will quickly spend more money than you have. Which can put you into crippling debt.

Why are Credit Cards a Bad Idea?

You shouldn’t get a credit card because credit cards have a very high interest rate of around 25% which means you will end up owing way more money than you charged to the card and it will be almost impossible to get out of the debt if you have a low income. For example because of my impulsive buying due to my borderline Personality Disorder I spent $3,000 on my credit card. After six months of making the minimum payments I owe over $4,300. Thankfully my support system is helping me get this debt back under control. I will never use a credit card again.

Eating on a Budget

When you are on a budget you can’t eat out every day. To maximize your money, you need to make bulk meals and often eat the same food all week and take food for lunch. Eating leftovers and purchasing generic foods rather than brand names is essential to eating on a budget.

Budgeting and Financing Resource links