Gary Kapanowski has long been considered one of Detroit’s top accounting experts. In his fifteen years of experience with Institute of Management Accountants (IMA), Gary Kapanowski gleaned plenty of knowledge on financial responsibility. Gary Kapanowski knows financial wisdom is a huge part of good physical and mental health. Today, Gary Kapanowski shares tips to help you stay financially responsible.
Save More than Spend
This is the rule that seems most obvious, but almost no one keeps, according to Gary Kapanowski. As weight decreases when calories decrease, money increases when it is saved rather than spent. When you receive a paycheck, Gary Kapanowski recommends you figure out how much you can keep after taxes. From that, take care of necessary expenses first. Save everything left over, dipping in only for emergencies. Once a month or so, treat yourself with a big purchase or a day out with friends and family.
Say, “Do I Need This?”
Gary Kapanowski knows waiting is probably the biggest deterrent to impulse buys and accidental spending. If you see something you want, ask yourself if you need it. If the answer is yes – say, it’s a grocery item – then buy it. If you’re unsure, walk away for 30-60 seconds. Then come back and ask again. Often, Gary Kapanowski says, the answer will be no.
Take Time Away from Money
It might be tempting, but Gary Kapanowski says it is important that you don’t become a workaholic. Sometimes people believe being financially responsible means hoarding all the money they can and making huge purchases several times a year. This leads to debt and is unhealthy in other ways, too. Spend plenty of time with friends and family, and keep that wallet closed.
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