During these economic times, it can still be easy to lose track of your money and throw it away on things you don’t need. But there are a few ways to manage your money, keep track of it, and help keep yourself from spending it frivolously.

Savings – Each time you get a paycheck, take some of the money from it and put it into your savings account. $30 is a solid amount to start with, but you can add more than that if your paycheck allows for it. By doing this you’ll insure than you at least have some money in the bank, and if the time calls for it, you won’t be in the hole. You’ll also be collecting interest on this money, helping your budget even more.

Credit Cards – Don’t buy very many things with your credit cards. Instead, buy things with cash or debit. If you use your credit card for everything, the interest will spike up the amount that you owe a lot faster than you may realize. By using cash or debit, you won’t be acquiring extra fees that were otherwise unnecessary.

Keeping Track – Make sure to keep track of everything that you do with your bank accounts. If you withdraw money, or deposit it, mark it down somewhere. Try using a book specifically for this to keep track of your activities. If you ever lose track of how you’ve been spending, it could cause you a lot of trouble later. You may become confused and forget where some of your money went or overdraw your account. Also make sure to keep all of your receipts, even if you spent cash. If you can keep track of your spending, you can better manage it.

Coins – It may seem like a miniscule thing, but saving your coins can be a simple form of money management. Whenever you have extra change in your wallet, try putting it somewhere out of mind. If you continue to do this, eventually you can go to somewhere such as a Coinstar kiosk, or the bank, and trade in your coins for cash. You’ll be surprised exactly how much money you get back from all of that loose change.

Money management is not limited to businesses. If you take a few steps to better manage your money, you may find that you’re spending less of it and saving more of it, and there’s nothing wrong with that.

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