Oprah, yes, the one and only famous Oprah Winfrey, has made available a lovely budget plan which she calls Oprah’s Debt Diet or Spending Plan Pie Chart. Its really a nice simple guide of how to start your budget plan. I found it very useful in coming up with my own budget and used it…
Category: Budgeting
Step 06: Save 3 – 6 Months Salary
My whole aim or reason for this site comes down to mainly trying to increase your financial intelligence and awareness by sharing ideas, tips, tricks and experiences so that you may use them into your own life and bring about your own financial freedom. BUT, what is financial freedom? I have decided to give it…
Step 05: Open a Transmission/Savings Account
You are in the early stages of trying to normalise your budgeting. You have your draft budget in place, come pay day, you pay your accounts according to the budget plan. After the debits have gone through your account you still has your savings amount and other expenses of your budget like groceries money coz…
Step 03: Fix and monitor your credit report
A credit report/record is a record of all your credit history from a number of sources, including banks, credit cards companies, collection agencies, department stores, cellular shops among others. It contains all your credit history, payment history and all accounts that you have. Your credit history will include how well you pay your debts: do…
Step 04: Pay off your Credit Cards and Store Cards.
One of the most important things to get rid of first on your road to financial freedom is debt. Debt is bad – it incurs high interest rates, in access of 20%. If you have a lump sum of money in a 32 day notice account, the banks only give you between 4 – 6…
Step 02: Download and Analyse your bank statements.
An important part of budgeting is knowing how and where you spend your money. What are your spending habits and patterns? Do you spend on a lot of takeaways? Takeaways are one of the small expenses that tend to accumulate into a rather sizeable chunk of money spent. A suggestion is to always download your…
Step 01: Draw up a Financial Budget Plan
Yep, so your very first step en route to your financial freedom is to be financially intelligent and to achieve this, you can start by drawing up a budget. What? … a budget …? Yes, a budget! The thing that everyone you ask will tell you they have, but do they really have one …?…