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Personal Money Management Releases Guide to Help Families Handle Money Crises


June 10, 2011 — Tam Rich releases a functional guide about how families can improve their economic money situation. With today’s economy, it is no wonder that so many families are living from paycheck to paycheck. The only difference between such a family and a homeless person is that one paycheck. With the massive layoffs occurring, it is no surprise that many families are struggling, while others have lost everything.

No matter what kind of personal money management skills a family has, there are many more to be learned. How to budget one’s money is also essential in the survival of today’s economic hardships. The guide covers items from how to manage a family’s money to where to begin if one desires to make a budget to live on. Many people are spending money and have no idea where it is going. With a few simple tracking techniques, someone could be on their way to not only having more money, but learning how to save.

Some families have been wiped out by the loss of health insurance before that medical emergency happens. Imagine being able to have an emergency cash fund to fit that medical cash emergency. Saving money is hard for the average family. Other families have not been taught how to save properly. Yes, there is even a better way to learn to save money. "So stop feeling guilty when you splurge on that item you cannot afford. Learn how to budget money properly so extra money is always available. ”

Increasing income or reducing expenses are the basic ways to increase cash flow. However, increasing income is not always a viable option for individuals making minimum wage and have only nominal skills. There is usually always a way to decrease expenses. Let’s take for instance a mortgage payment on the house. It is possible to cut long term interest costs by paying half the payment on the first of the month and the other half on the fifteenth of the month. Half a month’s interest has just been saved without spending an extra dime. And that savings is compounded over the life of the mortgage. This is huge.

And of course there is always the option of double paying a mortgage every month if one has the funds. The savings are tremendous.

For information on how to budget personal finances, please visit .

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