Back to School Money Tips

Here are some money tips to consider over your summer break and get ready to start school again at CPTC.

"Sit Down and Evaluate
Take a few minutes to look at your bank accounts and really understand what you see. If you don't, you run the high risk of living these next few months like Gomer Pyle on Valium, with no clue about your money. You don't want that, do you?

Update Your Game Plan or Start One
A budget is your game plan, where you tell your money what you want it to do. This isn't rocket science! Just give every dollar a name on paper before you get your paycheck so it won't all be gone in a week.

Put Cash in Envelopes
Since you spend 12–15% more when you use plastic than when you use cash, try the envelope system. Take some envelopes, write the budget categories on the envelopes, and use only the allotted money to purchase specific things. If an envelope is empty, don't buy anything else in that category for the month. It can wait.

Set Boundaries
A lot of this centers around the ability to say the word NO and really mean it! Sometimes you're going to have to tell yourself, your spouse, and your kids "NO! It's not in the budget!" so be prepared. It's a phrase you'll be glad you know how to say. "


- Taken from the Dave Ramsey eNewsletter