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Why Taking Chances Leads to Big Wins page 1
Naval Combat Inside the Roman Colosseum?
It’s Time to Put Yourself First page 2
Gaslighting, Deflection, and Blame
Hearty Gnocchi Soup page 3
Master Your Budget, Achieve Your Dreams page 4
TRIM FINANCIAL FAT LIVING THE DREAM — WITHOUT THE DEBT
Many Americans dream of traveling to exotic destinations, buying a home, or retiring early. Realizing those dreams, however, requires saving some cash — a habit that is becoming a dying art. Only 41% of Americans have emergency savings to cover unexpected medical bills or repairs, and more than 25% have no savings at all, according to a Bankrate survey. Instead, more people are using credit cards to cover expenses and vacations, driving consumer credit card debt to a record $1.17 trillion in 2024, up 8.1% from 2023.
Then, look for places to trim. To reduce utility bills, consider lowering the thermostat or installing low-flow fixtures. Cancel subscriptions you aren’t using. (Nearly half of subscribers pay for streaming services they don’t use.) Consider preparing more meals at home as the cost of dining out has soared! And make paying off credit card debt a top priority; those high-interest charges are a cancer on your budget. If you can’t pay off your balances, try switching to a lower-interest card or ask your provider for better terms. CULTIVATE HEALTHIER HABITS. Strive to set aside 50% of your income for basic needs, 30% for things you want, and 20% for savings. If you can’t save 20%, start with a smaller percentage. Pay yourself first by setting up automatic transfers into your savings. Online shopping with credit cards can be a significant budget drain. Restricting yourself to debit card or cash-only payments can help you reduce impulse purchases. If you yearn for a little retail therapy, dive into a cleaning project, call a friend, or do volunteer work — distract yourself! Even if these steps seem menial at first, your savings over time will bring you closer to realizing your dreams!
Inflation and low pay are partly to blame, but taking charge of your spending can still bring you closer to achieving your dreams. Here are two ways to better your budgeting.
TAKE CONTROL OF YOUR BILLS. A smart first step is to stop spending everything you earn. Start by tracking where all your money is going. List fixed expenses, such as housing, and variable costs, such as utilities and food. Add up subscriptions, transportation, entertainment, and health care spending. You can also track your incidental expenses in popular apps like YNAB, Monarch, Goodbudget, and PocketGuard.
4 • BrucePA.com
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