Before you start a budget, and compound interest explained

Before you start a budget, 7 Steps to get your finances in order:

  1. Appreciate Second-hand, sustainable and recycling is important to reduce your carbon foot print. Incorporate small steps in shopping 2nd Try Ebay auctions, visit your local Lifeline thrift store and support friends and family. Buy/Swap or trade on your local websites and social media pages to encourage better spending and benefits to your world around you.
  2. Create a garden, start an avocado tree or lemon tree using seeds from your food. Check out Pinterest for ideas on what foods you can regrow or sprout. By taking care of your plant, offering it water and sunlight and proper soil nourishment is a great start to understanding the value of food.
  3. Sew your own, Try sewing your own re-usable shopping bag. Either with a borrowed sewing machine or even with a needle and thread. Try knitting a scarf, or creating a handbag out of old jeans. Create a household item that is useful and invest the time and education to create your own.
  4. If you are not already vegetarian or vegan then slaughter your meat. Catch, gut and scale a fish, slaughter, gut and pluck a chicken or hunt and prepare some game meat. I truly believe that if you are going to eat meat you should know what is involved to get flesh on your dinner table. This exercise it so that you reduce waste. One of the easiest ways to start saving money is reduce your grocery bill. Using as much of the food you purchase or procure with as little waste as possible.
  5. Containers for change visit. Go for a walk or drive to public area and look out for cans and bottles you can get paid to recycle. Collect a few cardboard boxes or plastic buckets and fill them with crushed aluminium cans, and smaller drink bottles. Set a challenge to collect enough to get $20 (that is 200 bottles and cans in one visit).
  6. Hold a market stall or garage sale. Collect up all of the clutter or items you have not used and list them for sale. Often you can make a couple of hundred dollars at a car boot sale for second hand goods. Clothing usually sells from $2-15, and books for $3, as well as many other house hold items. By de-cluttering you can think more sensibly about what your needs really are.
  7. Tally all of your spending from last month. Get a notepad, then write down every transaction for the month… the money in or payments to you can be blue, and your money out, payments from you, can be in red. See how you went last month, what types of things you purchased and if you spent more or less than your earned… the goal is to always spend a bit less that your earn (EVERY SINGLE MONTH).
money, time and money, financial education

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