Show a Finance professor suggests money 1 solutions sol Melissa Contributing Writer I Marlon Andrus professor of finance and economics and former banker spoke to a group of single parents recently about money management His presentation part of a seminar series provided provided provided pro pro- vided by the Si Single gle Parent Network was titled Chicken for the Soup Financially Challenged How to Manage Your Money and Maintain Your Sanity Andrus explained that the way in which money money is managed iri affects feC S so litany many 11 aspects t c J bf of life levels blood pressure c ld kids ts and peace of mind But it doesn't have to affect these things in a negative way During Duffing your lifetime most of you will make a alot alot alot lot of money said Andrus In fact most of you will make millions of dollars over the years but Money Cont on Page 4 Mon Money y Cont from front what you do with that money will profoundly affect your you r life Andrus' Andrus key to managing money wisely is simple and applies to both the young and old rich and poor save it If you dont don't learn to save money you'll never be financially financially financially finan finan- successful I dont don't care how much money you make Andrus said Saving money combined with wise spending and budgeting will keep you out of trouble Saving when theres there's nothing at the end of the month is tough but Andrus' Andrus advice is pay yourself first Whether putting away a certain amount say 25 a month or taking a percentage out of a paycheck or even keeping change in a ajar ajar ajar jar and depositing that each month finding a plan that works is the key If someone saves first they'll never miss it Andrus suggests having the amount you need to live on for forat forat forat at least three months put into a savings account Andrus' Andrus next biggest life- life changing piece of advice is to keep track of spending and sticking to a budget You need to keep track of what youre you're spending most people dont don't know where it goes Dont Don't spend yourself into bankruptcy Andrus said as he helped attendees learn to tomake tomake tomake make their own b budget f Andrus' Andrus ideas may be simple simple sim sim- pl yet many do not follow them For those who need financial help and advice Andrus suggests contacting Utah Saves for more information information information tion on free savings accounts free advice from a financial planner and free workshops on how to save and build wealth |