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"The function and duty of a quality human being is the sincere and honest development of one's potential."
~ Bruce Lee


Found $20 Bucks?

Posted on August 11, 2011 at 5:25 PM


What to do with that $20 bucks you found? Here are my top 2 faves:

  Buy a book on budgeting and money management

(gawd, I have a huge list of those to choose from) and apply as follows:

-Track household income and spending for at least three months.

-After that, choose one or two spending categories and reduce your expenses by 20 percent to 30 percent per month.

-Put the money you saved in a bank account or IRA

-Reward yourself after you've saved $100 by taking $20 for "a special splurge -- lunch out, a night at the movies, etc."

Check your "S.W.A.N." factor.


"The acronym stands for whatever helps you "sleep well at night," says Mark, who picked up the concept from late Atlanta radio money reporter Mike Kavanagh, CFP.


So figure out what fuels your SWAN factor. If it's paying down your debt, then throw that money at one of the bills. If it's building an emergency fund, stash it there.

Look at what you can start with it, too, Mark says. While $20 alone "is not going to solve any major financial problems," $20 each week is $1,000 per year -- "and it's suddenly very significant."

Categories: Money & Finance

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