NATIONAL FINANCIAL LITERACY MONTH: Pay with cash, court rewards and other helpful tips

Published: Friday, April 18, 2014 at 02:04 PM.

Derek Lott, president of CCB Community Bank in Crestview, agreed.

"It's the best thing to have," he said. Having a written, measurable budget would allow people to see how their money is spent, Lott said.   

"Roughly 40 percent of your total income should go towards paying bills (or debt)," Lott said.

Cash is king

Instead of using a debit or credit card to pay for groceries, Shanklin suggests withdrawing a set amount of cash to purchase groceries.

The limited amount could help people save money, particularly if they eat less at restaurants, she said. 

"Make eating out more of an (occasional) event, other than a just a standby option," she said.

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