Where Has the Money Gone?

WHERE HAS THE IOU MONEY GONE? MONEY MISTAKES WE ALL MAKE AND HOW TO AVOID THEM WHERE DO WE SPEND MONE Y? HOUSING $17,000 TRANSPORATION $9,000 FOOD $6,000 AMERICANS SPEND AN AVERAGE OF ENTERTAINMENI $3,000 $50,000 HEALTH $3.000 TOBACCO E $900 PER YEAR ALCOHOL WHERE IS MON EY BEING WASTED? UNUSED GYM UTILITIES FOOD TAXES ENTERTAINMENT MEMBERSHIP Eat out less. Don't buy appetizers when you do. Buy in bulk. Compare unit prices. If you don't go, don't pay. Running is free. Claim every deduction Ditch cable TV, you only watch 3 of your 5000 channels anyways. Do an energy audit to find leaks. Use smartmeters to save you can. money on heating and cooling. MONEY MISTAKES AND HOW TO AVOID THEM NOT HAVING A BUDGET NOT HAVING AN EMERGENCY FUND 00000 2/3 OF AMERICANS DO NOT BUDGET WITHOUT AN EMERGENCY FUND, EMERGENCIES END UP ON YOUR CREDIT CARD Figure out where you can cut back. Use apps like Mint.com WHAT TO DO: WHAT TO DO: Monthly income - regular monthly expenses (housing, transportation and utilities) - 20% to 30% to savings, retirement and/or debt. The rest covers your living Set aside $100 a paycheck until you have a minimum of $1000. Build up to saving a 3-6 month cushion for living expenses. expenses. Limit yourself to a set amount in cash. NOT TAKING ADVANTAGE OF YOUR FULL 401(K) MATCH NOT CONTRIBUTING TO RETIREMENT SOCIAL SECURITY IS As long as you you contribute a certain amount, some companies will "match" your contribution. SPENDING MONEY, 401K NOT INCOME 401(K) MATCHES WHAT TO DO: ARE FREE MONEY Put enough money toward your 401(k) to get your company match. Put away money in your Roth IRA up to the limit ($5,500 fin 2013). Contribute any extra money you have for retirement toward your 401(k) up to the limits ($17,500 in 2013). WHAT TO DO: Talk to your HR department about how to receive a match. NOT LETTING YOUR SAVINGS NOT PAYING ATTENTION TO CREDIT EARN INTEREST CARD INTEREST $.01% AVERAGE CREDIT DOESN'T CARD CHARGES COUNT AROUND WHAT TO DO: 16% IN INTEREST Shop around FDIC Insured savings accounts. Look for 1% interest, no fees, and easy electronic transfer. WHAT TO DO: Many cards offer promotional interest rates as low as 0%. Using them to get rid of high-interest cards can help to pay down debt faster. AND LAST BUT NOT LEAST: NEVER GET A PAYDAY LOAN PRESENTED BY: daveramsey.com/blog/10-things-americans-waste-money-on dailyfinance.com/2014/01/03/14-money-mistakes-avoid-2014/#!slide=2129255 lifehacker.com/the-most-common-ways-you-waste-money-and-how-to-save-i-1183447200 gallup.com/poll/162872/one-three-americans-prepare-detailed-household-budget.aspx forbes.com/sites/laurashin/2013/11/26/13-money-mistakes-to-stop-making-by-years-end MONEYCHOICE.ORG DEVELOPED BY N NOWSOURCING REWARD CARD