These 3 Habits Will Instantly Make You Better With Money
These 3 Habits Will Instantly Make You Better With Money, According to George Kamel
Andrea Norris Tue, January 14, 2025 GOBankingRates
Managing your money and financially getting ahead can feel like an uphill battle. Recently, Ramsey Solutions money expert George Kamel posted a YouTube video explaining how adopting three simple habits can immediately improve your money skills, helping you to improve your financial situation and build wealth.
He recommended trying the following habits for 30 days to see how they can boost your finances.
Track Your Expenses Daily
“If you want to get better with your money, you have to pay attention to your money,” Kamel said.
The best way to do this is to note where every penny of your money goes. Tracking your spending and expenses helps you identify areas for improvement and stay accountable with your budget.
Additionally, Kamel said asking the following questions before buying something can help keep your spending in check:
“Will the purchase add value to my life?”
“Am I buying this for the right reason?”
“Is this in my budget?”
“Is this the best place and price to buy?”
“Is now the right time to buy it?”
If you answer “yes” to all five questions, Kamel said you should go ahead and make the purchase — and track it. He also recommended waiting 48 hours before making any big purchase. This extra time can help you avoid the regret of a costly buy.
Use Your Own Money for Every Purchase
According to Capital One Shopping, people spend up to four times more using a credit card than cash. The difference adds up.
“Using a credit card is not using your own money, even if you pay it off every month,” Kamel warned, since credit cards statistically lead to overspending.
TO READ MORE: https://finance.yahoo.com/news/3-habits-instantly-better-money-170029149.html