If you have trouble with personal finance and budget balance, you’re not alone! Many people find themselves in financial trouble and debt because they just don’t understand how to manage their money! If this is you, read on for some simple ideas on managing your money and keeping yourself out of debt!

Signing up for online bill payments can save you money in more than one way. First, it eliminates the expense of envelopes and postage. It also benefits you by helping to avoid exorbitant charges and fees for skipping payments or forgetting to make your payment before the deadline. Most banks offer this service for free or for a nominal fee.

Look for activities in your community that you or your family can get involved in that will be worthwhile, but not break the budget. This can offset entertainment costs, and it will free up your budget with some breathing room. You will be surprised how this can, both save you much money and also, be very entertaining.

Drink water from the sink. Tap water is free, as opposed to the money you pay for bottled water, juices and sodas. This can help you save a lot of money on groceries. Just make sure that your local water is safe to drink, this is particularly important if you have well water.

To really pay your bills on time, use a calendar to balance your checkbook instead of an actual checkbook. Using a calendar helps you keep up with paydays and bill due dates. It is not enough to make the money, you have to pay the bills in time to avoid late fees.

To teach your children about personal finance, start giving them an allowance when they are young. This is a good way to teach them the value of money while also teaching them responsibility. Earning their own money will ensure that children will know the worth of working and saving when they are older.

To avoid throwing your money away, always pay in cash when you can and save your credit cards for real emergencies. It is all too easy to use credit cards all the time, but the interest on accumulating debt really adds up. In other words, when you buy things with your credit card when you do not have to, you are literally giving away your money.

Budget, budget, budget – yes, whatever you do, make a budget. The only way to know what is coming in and what is going out is with a budget and a ledger. Whether it’s with pen and paper or a computer program, sit down and get it done. Your finances will thank you for it.

Always push “credit’ when paying with your debit card. Banks often charge processing fees that can really add up over the course of a year. By using your debit card as if it were a credit card, you can save quite a bit of money without much extra effort at all.

As you can see, managing your personal finances is simple once you know the basics of record keeping and controlling your spending. If you’re one of those people who have trouble with money, apply the tips you’ve read now to start getting yourself out of debt and into a comfortable savings.