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Ever had that heart-racing, face-flushing, can’t-breathe experience when standing in line at the grocery store waiting for the final total and worrying about whether you have enough cash? How about the panic of getting your mail wondering just how many more bills will arrive today? Or, what emergency will arise, like a car repair, a leaky toilet, or a broken water heater?.
Don’t let financial insecurity be your destiny. Make simple changes to gain control of your finances and give you a peace you didn’t think possible.
Tips to Help Get Your Finances in Control
1. Grow Your Emergency Fund Faster With CIT’s High Interest Rates
When you follow Dave Ramsey, you need an emergency fund.
Grow your emergency fund faster with CIT’s Savings Builder Account. Right now, your saving account APY is probably somewhere around the national average of 0.08%. Compare that to CIT’s APY (see live banner below for CIT’s current APY)
2. Trim – Lower Your Internet Bill
Do you feel like your getting ripped off on your internet? You probably are. Internet providers charge higher rates to customers who do not negotiate a lower price.
Trim wants to negotiate a lower internet bill for you. A real person from Trim will call your internet provider to lower your monthly payment. Not to mention, they’re very good at their job. Trim saved their users $1M+ last month alone.
If Trim is unable to lower your bills, you pay nothing. But if Trim does lower your bills, you keep 66% of the savings the first year and 100% of your savings every year after that. Not a bad deal.
Get the free Trim App here because your internet bill should be lower.
2. Charlie – This AI Penguin Manages Your Money
Gain greater insights into your finances through artificial intelligence when you install the Charlie app.
If you want to reduce your bills, track your spending, get help to save, and better understand your finances, download the Charlie app today.
3. $5 Meal Plans (Don’t Blow your Budget At Restaurants)
Eating out is the death nail in a budget. So take the guesswork out of cooking; save time and money with the $5 Meal Plan.
Your meal plans will be sent to your inbox each month, along with shopping lists and tips. Save about two hours a week. Each serving is around $2.
These Dave Ramsey Tips Will Lead You to Financial Freedom
Dave Ramsey has taught people how to get control of their finances for decades.While some of his teachings can be a little controversial, nearly 2 millions families have found financial peace.
What are you waiting for?
1. Create a Spending Plan
There’s no getting around it, if you want to have control over your finances you need to have a budget. Dave Ramsey suggests a zero-based budget in which you give every dollar a “name.” This means that every dollar that comes into your home is assigned a purpose.
With a zero-based budget you write down the amount of money you will receive in for the month and figure out where it will be spent. This includes bills, savings, discretionary items like restaurants, entertainment, Starbucks and clothing, and whatever else you spend money for.
When you subtract your expenses from your income, you should be at zero. If you have money left over on paper, then figure out where you want to put it (like toward debt or savings or Christmas). If you have a negative number, then you’re going to have to make some cuts.
2. Stick to the Budget
Creating a budget and sticking to it are two different things. You worked hard to create a budget, don’t ruin it by not following it. Everyone in your family needs to be on the same page.
Dave Ramsey speaks a lot about Nerds and Free-Spirits in his Financial Peace University. Usually, someone in the marriage likes numbers and figuring out the budget (nerds), and the other does not (free-spirits). Both people need to participate in the process, agree on the final budget, and stick to it.
Don’t forget! Charlie keeps a budget for you. Tell him the most you want to spend in a category and he’ll help you to not overspend.
3. Protect the Four Walls of Home
What happens when you don’t make enough money to cover all your expenses? You make sure to take care of the most important things — the four walls.
Ramsey describes the four walls as:
- Food: Make sure food is on the table. (Also see: 7 Tips to Save on Groceries)
- Utilities: Keep the lights on. (Also see: Save on Utilities with these Top Energy Saving Amazon Products)
- Rent/mortgage: Maintain a roof over your head.
- Transportation: You will need to find a way to work.
These critical items need to be paid for before anything else.
4. Don’t Go Further into Debt
Credit card companies make it very easy to obtain one. If you are to gain control of and peace with your finances, do not go further into debt.
The longer I have been following tips from Dave Ramsey, the more I hate debt. Debt is promising to use the money you have not yet earned for things you buy today. If you go further in debt, then you are spending more than you make.
5. Have an Emergency Fund
Dave Ramsey’s first step of his “7 baby steps” for financial peace is getting $1,000 into an emergency fund. That money is strictly for emergencies. If you budget you can plan for irregular expenses like holidays and birthdays so that the emergency fund is only used for emergencies. He suggests keeping this money in a different account than where you normally bank, so it is that much harder to get to, unless you have a real emergency.
CIT offers interest rates that are typically 11X the national average or greater. The money in your bank should be growing faster. Open a CIT savings account so you can earn BIG interest (See CIT’s live banner below for their current interest rate)
6. Use Cash
Did you know shoppers who pay with a credit card spend more than those who use cash. It’s easier to overspend with plastic than if you are paying with cold, hard cash because you only have so much money in your pocket. Dave Ramsey recommends using the cash envelope method. As long as your envelope has cash in it, you can spend it. But when it is gone, it’s gone.
Add another fail-safe to your spending with Charlie. This AI penguin will alert you when you’re approaching the limit on budget categories like groceries. Don’t overspend. Download Charlie here.
7. Attack Debt
If you pay the minimum on your debt it will be nearly impossible to pay it off. Attack your debt as quickly as possible. Dave Ramsey suggests the snowball method. You make minimum payments on everything but the smallest debt. Pay as much as possible on the smallest debt to knock it out fast. Take all of the money you paid on the small debt and apply it to the next one. Keep rolling that money over … like a snowball.
Have multiple credit card debts? Did you know you can combine your debts into a single payment AND pay less in interest. It’s called Debt Consolidation, and it allows you to get out of debt faster while paying less money every month.
In other words, it puts the snowball method to shame. Learn more about debt consolidation – the easiest and cheapest way to become debt-free – here.
8. Avoid Temptation
If you have a weakness for spending money on “deals” when you shop, then limit the number of times you shop. If you tend to overspend on groceries when you are hungry, then eat before you go.
Learn what your weaknesses are and then avoid places that may cause you to slip.
Giving plays an important part of Dave Ramsey’s budgeting process. Whether it is to a church, a charitable organization or to someone who has need, make giving a part of your financial routine.
Nothing feels better than knowing you had a hand in helping someone else.
Remember These Tips to Improve Your Finances
Earn More Interest @ CIT Bank
CIT offers more interest on your savings. The national average is 0.08%. Compare that to CIT’s current APY rate (see banner below)
Open a CIT Savings Builder Account to earn more interest
…because it’s free money to grow your emergency fund a lot faster.
Trim Down Your Internet Bill
If you’re willing to negotiate, internet service providers are likely to lower your rate. But what price do you ask for?
Trim is a professional service who specialize in negotiating bills down. Download Trim to lower your internet, phone, cable, and medical bills. You will keep 66% of the savings the first year and 100% of your savings every year after.
Stop Eating Out – Get $5 Meal Plan And Save
You’d be surprised by how much you’d save if you ate out one less time per week. Sign up for $5 Meal Plan because you will save money cooking flavorful meals at home.
Ibotta – Save Money At the Grocery Store
Since you are cooking at home more often, you cannot skip Ibotta for savings at your local grocery store. Ibotta offers cash back on the items you’ll need, like meat, grocery staples and condiments.
Download the free Ibotta app to earn cash-back on all of your upcoming grocery trips. What’s more, you’ll claim a $20 welcome bonus just for using the app!
Check out our exclusive Ibotta explainer video below to find out ALL the ways to save money with Ibotta! 👇
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No Money in the Bank?
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Wendi Warren is licensed professional clinical counselor, a certified human resources professional, a digital marketer, and founder of Wendi’s Weekend Trips & Whatnot blog. She and her husband, Bobby, live in Wooster, Ohio, with their pets. In her spare time, she freelances for Wooster Media Group LLC.