Sunday, December 23, 2012

Why Keeping Your Money In Cash Is The Best Bet-And Some Budgeting Tips

Think about this for a while. Most people could never make money in the stock market if we were left to our own devices. The big mutual funds and hedge funds have the cash and numerous Analysts who literally devour the market and study it 24-7.

Still, you'll do better than them if you keep your cash in a bank account or CDs. Do things like study where you put your money and start a budget. Most of you think it's silly and frivolous. I'm not saying to live on food stamps and be a dumpster diver. Not at all.

If you're spending too much on certain items such as entertainment and credit cards, pay off the credit card and back off on spending money loosely. Myself, I keep my money in cash and buy food in bulk to save cash. And keep your money out of the stock market.  Don't be stupid. I'd rather see my money come back to me in whole and principal than having to worry if my mutual funds ever make a dime.

I sleep like a log at night because I keep my cash away from the stock market. Keep your cash safe and start Sub-Accounts where you put your money away. Use your main account for bills. Remember a previous post where I said you should even put the money you spend on gas for your car in a separate account. 

That way you won't miss the money if it's in your main account. And it's something you need. If you're the type who spends a lot and uses a credit card only to barely pay it back on time, get rid of the credit card.

I think that's a wise move. What? worried your credit score won't be good if you don't have a credit card. Forget that shit! Get rid of it if you have money woes. And yes, the wife will be happier.

Mark




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