Knowledge of money is very important to your survival. Grandma and grandpa didn’t have much money, so they learned to stretch what money they did have to the absolute limit and not waste money frivolously. Most of us do not live that way anymore. Use the advice in this article to use your money to your advantage.

Really focus on documenting your daily expenses, and it will help you structure a plan. A notebook that is easily set aside or lost is probably not the best method, as it is often soon forgotten. A good idea is to get a large whiteboard for use in your office or home as a reminder to keep listing your expenditures. That way, you see it more frequently.

It may be helpful to keep a small envelope in your purse or bag whenever you go shopping. Store any receipts or business cards you receive in the envelope. Keeping your receipts is a good idea, since they provide records of your transactions. Keeping your receipts helps you have proof of your purchases in the event that your credit card is incorrectly charged.

Arrange an automatic withdrawal from checking to savings each month. This technique works very well if you want to save a little every month. It is a great technique for anyone saving for significant life events, like weddings or family trips.

Your two largest purchases are likely to be the house you live in and your car. Payments and interest on these things will be the thing you spend the most on every month. Try to get the balance down by at least sending in one additional payment every year or applying some of your tax return money to the balance.

If your spouse has a great credit score, use this to your advantage. If your credit is poor, you can build it back up by paying off credits each month. Keep working on restoring the credit of both spouses so that your financial liabilities can be equally shared.

Compact Florescent

Swap out your old incandescent light bulbs with the highly-efficient new compact florescent lamps. By replacing your regular bulbs with high efficiency CFL bulbs, you will lower your electricity bill, as well as help the environment. Compact florescent bulbs last a lot longer than their predecessor. The need to purchase fewer bulbs will save you money.

Knowing and understanding your personal finances is one of the best tools to equip yourself with. If you are able to keep track of what you earn and where you spend it, you will find it much easier to keep your finances in order. We’ve included many tips here which will help you to learn what it takes to find financial freedom.