UNV-103 Topic 6 DQ 2 GCU Please read the article “Make a Plan to Manage Personal Finances,” by Michael Scheibach found in the Topic 6 resources. This article lists 10 money-saving strategies. Choose three of these strategies and discuss how they will help your personal budget? What additional tips or budgeting strategies do you use that were not mentioned in this article?

After reading the article “Make a Plan to Manage Personal Finances,” by Michael Scheibach on 10 money strategies, the top three strategies that will help me personally are: Develop a Household Budget, Prioritize Your Spending, and Create a Wait and See List. Developing a household budget and staying on top of money coming in and money going out will be a huge strategy for me to keep track of all transactions. It will keep me disciplined that will help create a substantial relationship built between myself and my money. I had a habit of spending money on things spontaneously to later fall back on not being able to pay an important bill. Prioritizing my spending will be crucial for me to stay on track along with setting “spending money” aside for anything I would want/need. Creating a wait and see list is one I would like to use so that I can spend off of a premeditation mindset rather than impulse behavior.  

Some of the strategies I use are: Cooking at Home and Always Compare Prices. Cooking at home is very important to me because it saves money and you are able to know what your food is cooked with. Another strategy I use is Always Compare Prices, it takes up a bit more of your time but finding a lower price product elsewhere does save me money. Overall, these strategies are great to implement into your life for a more stress free living.