As I am looking at the next ten years of my life and the many financial expenses that are looming just around the corner (living expenses, my husband’s dental school, kids, a home) it’s a little overwhelming to think just how we’re going to financially squeeze by. My husband and I were talking the other night about budgeting and our finances and we came up with a list of must-do’s for the next phase in our life in order to help us save money and make the best of our financial situation.

1. Come up with a budget and stick to it. Decide what your monthly income is and allocate the money wisely, always making sure a good portion is going into savings.
2. It’s inevitable for most that advanced schooling will require taking out loans. Once out of school, begin paying those loans back immediately. Relieving that debt as soon as possible will lift great burdens off your shoulders.
3. Spend less than you make. Even though it seems like a simple thing to say, many people spend money they don’t have on things they don’t need.
4. Buying a home is definitely in our future plans and as we’ve been looking at our many options, we came across a Money Merge Account system that can help us pay off our home mortgage in a fraction of the time. This software helps you reposition your regular income and your unused “stagnant” money you would normally leave sitting in your regular checking and/or savings account in order to lower your principal balance each month, helping you repay your mortgage years ahead of your standard mortgage schedule.
5. Be creative with ways to have fun without spending money. Spending time with the one you love doesn’t have to cost a bundle, but is crucial in order to get through the hard times that often go hand-in-hand with financial struggles.

photo via http://www.saltlakespeaks.com/wp-content/uploads/2007/05/money_20house.jpg