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Kiowa County Signal - Kiowa County, KS
  • PAM'S PANORAMA: Making your money go further in 2012

  • New Year’s resolutions are suppose to bring change into our lives.  A personal financial review may help you build a savings and increase your personal financial security.


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  • New Year’s resolutions are suppose to bring change into our lives.  A personal financial review may help you build a savings and increase your personal financial security.
    With tax preparation in mind it mind it might be a good idea to review the 2011 money that came in and money that went out.
    The New Year is also a great time to review your financial goals. Goals are like road maps.  If you don’t know where you’d like to go, you probably won’t get there.
    Saving for a specific purpose can help spur savings and maybe a lifelong savings habit. 
    Here are some basic money management tips the help you know where your money has gone.  You might see an area where you need make some changes:
    n Make a list of your financial goals for at least the next year.  Post these goals in a prominent place in your home as a daily reminder to help avoid impulse buying and build resolve for saving.
    n Be clear about income available to spend, save or pay off debt.
    nIdentify and plan to pay fixed expenses and payments first. Mortgage, rent, insurance and etc.
    nIf your money seems to disappear, track you miscellaneous cash, debit and credit card expenses for a week to a month.  You might be amazed at where you money is going.
    nSign up for direct deposits for paycheck and other income.  That may help to reduce the temptation to spend.
    n Pay yourself first.  This will help you start saving for emergency’s.
    n Pay all your bills promptly to avoid costly late fees. 
    nWhen you pay off your car or truck, continue making those payments to yourself.  Put them in an interest-bearing account to help make the down payment when it is time to replace a vehicle.
    pmuntz@ksu.edu

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