I called and interviewed my friend over the phone.
My friend is a very busy person, involved with her church and various other organizations. She has been the treasurer of one or more of those organizations. She also volunteers to teach others responsible money management.
Q: What do you think is the most important part of people handling their finances?
A: Starting with a good budget. People should start by having a budget that covers their basic needs. Housing, food, utilities are basic needs.
Q: Where do you start with a budget?
A: Start with basic needs. Then, create an emergency fund. Put in enough money to cover living expenses for three months.
Q: What about money for fun and entertainment?
A: After the emergency fund has been fully funded, then you can put money aside for other purposes. Vacations, eating out, movies, whatever it is that you want to do for fun.
Q: What are some things that should be cut out of anyone’s budget or at least reduced.
A: Well most people don’t like to hear this but there are many expenses that can be reduced. Things like cigarettes, tattoos, alcohol are a few things that are not necessary for survival.
Q: What success have people had after listening to your advice.
A: Quite a few people have come back to me. They thanked me for helping them get their finances in order. One couple finally managed to buy an older home of their own which was their main goal.
Q: Any final words of advice for those having financial difficulties.
A: Get started as soon as possible to take control of your finances and life will be much better. Pay yourself first by saving even a little bit every week. Trust in God and faith are also important.
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