Here are some hints that helped me watch my dough grow:
Stop using credit cards: Don’t spend what you do not have.
Avoid impulse buying and buyers remorse: Always shop around, especially on large purchases. See something you must have? Go home and sleep on it. Write down the pros and cons.
Good faith payment: when faced with big debt, you can pay a small regular amount each month to avoid being sued.
Negotiate: Try to settle the debt by calling the lender and seeing if they will accept a lower amount. Many credit card companies will do this if the debt is old because there is a 2 year statute of limitations for some unsecured debt. And keep in mind they are compounding their interest. You are paying interest upon interest, so they are not necessarily losing when they settle. Don’t trust those consolidation companies. They are not your friend. They charge big fees and may only settle part of your debt, leaving you with more expenses.
Save: Always have a small amount of money going into a savings account each month. You will be surprised how fast it adds up and can be there for that sudden event such as an unexpected car repair.
Pay extra: if you can pay a little extra on your principal each month, you debt will be under control faster.
Monitor spending: how much are you spending on groceries, fun and miscellaneous? Are you giving the bank money for over-drafting? If so you may need help with money management and budgeting.
DIY or Make it yourself: buying the whole chicken and cooking is less expensive than pre-prepared. Changing your own oil and washing your car at home can save a lot. Put those savings in a jar and see how fast you can have more money for what you really need.
Evaluate your expenses: can you lower a utility or cell phone bill? Can you get cheaper insurance on your property? An annual call to your agent could save you a lot. Or shopping around can work too.
Invest wisely: Money in the bank does not earn much. Ready cash is also easy to spend or loan, but invested money will grow and be safer. Money in the market may go down. Real estate is usually the best investment. Put your money in fixing your home or if you have enough buy another property.
Give wisely: donate to local charities. Big charities that advertise a lot have a lot.
Read what the Bible says about money: Mat. 6:21 Deut. 23:19 Luke 6:38, 2 Cor. 9:6-7