Peoples Money Manager

WHAT IS MONEY MANAGEMENT AND WHY IS IT SUCH A BIG DEAL?

It has been said that money management is one of life’s most important skills and yet we’re not taught it in school or college. And for many, it isn’t even discussed at home. Managing money well is fundamental for every young adult, it is crucial to every marriage, and it is a vital skill for keeping hold of cash and accumulating wealth in order to maintain a home, raise kids, retire, and everything in between.

Having even a basic understanding of money management will help ensure that your money isn’t locked in an “easy come, easy go” cycle and will allow you to be more confident about your finances and look forward to a more secure future alleviating financial stress.

Money management is the learned and practical skill of budgeting, spending, saving, and investing your money. The first thing we have to ask ourselves is am I saving for a financial emergency? Am I saving for retirement, even if I am young? Is my money growing? If it is then it’s working for you. If it is not, then let’s work to change that.

WHY IS MONEY MANAGEMENT IMPORTANT?

Managing your money lets you see your finances more clearly. It helps you avoid wasting it, afford things you really want, and prepare for the future. And it will help you be more confident about yourself. People with more confidence in themselves generally exert more control over their finances. People who feel overwhelmed or even depressed will often accumulate more debt, or live paycheck-to-paycheck.

Good money management will help in several areas of your life:

• Money management helps you stay out of debt.
• Money management helps keep you from living paycheck to paycheck.
• Money management helps you save money for a house, a car, a child’s education, or a wedding.
• Money management helps you have the means to travel.
• Money management helps you handle emergencies.
• Money management helps you take care of your loved ones.
• Money management helps you teach your children about responsibility.
• Money management helps you have more control over your life.
• Money management allows you to be more generous to others.

With Peoples Money Manager, an app that shows you the big picture of your financial well-being, you can finally take control of your personal finances. It is not the only tool out there, but it is definitely one that will aid in your quest to track spending, create a budget, and analyze trends to help you save money.

As with any new tool, it will take a little time to get it set up so that all of your accounts (even those with other financial institutions) are in the same place, but it will be well worth the time it takes to give you a holistic view of all your personal finances.

Finally, you’ll be able to see all of your income and expenses on a given day, including future predictions. By seeing recurring deposits and payments in a clear, simplified view you better understand the impact of introducing new debt and can make wise choices for your future.

Peoples Money Manager also allows you to keep a running total of your net worth each month and visualize the impact of saving extra money or paying off debt early. Seeing this in black and white will clarify how certain transactions affect your bottom line.

With all your finances in one place you’ll have incite to explore strategies for paying off debt since you will be able to view balances, APR, and last payment dates on all your accounts.

What are you waiting for? Why not start today?