That’s a question that I used to ask myself a lot about my money.  I didn’t know where all of it went.  I thought that I would be doing just fine with managing my money and the next minute, I wouldn’t have any.  It got pretty frustrating and I needed to think of some things to help myself out and get back on the right track.  So, after pondering some ideas and trying out a few, I developed the Alpin Strategy of Finance.  Okay, not really…but it sounded good!  I’ve put into practice some basic tricks and strategies to help my manage my money better and know where all of its going.  Before you read the strategies below, I must forewarn you.  These tips/tricks for managing your money take time and patience.  Not all of the tips are right for everyone because everyone has a different financial situation.  The following pointers work for me, and you can take them as a model or a guide if you want to develop your own.  I’ll attempt to go into as much detail as possible on each one.  Here goes…

1. Use cash -  Cash?  What’s cash?  It’s not a word that we hear often in today’s society because everything is flooded with Visa and MasterCard.  It’s like, peer pressure to use a little piece of plastic that can potentially ruin your financial freedom/life.  See why I like to use cash?  Don’t get me wrong, I have a few credit cards and I think they’re great in a time of need/emergency.  I use cash for all of the little things that I buy – lunch, milk, gas (more on that later), and pretty much anything else that I can.  I have found this method works for me: get cash out as soon as you get paid.  If you get a certain amount out BEFORE you start spending it all from your credit card, it turns out quite nice.  Using cash allows me to track my money and not buy worthless, little things.  If I don’t have cash to pay for something, I usually don’t buy it.  It’s all about patience and self-control.  Try using cash more and more; I think that you’ll find you slow down your spending.
2. Plan - A lot of people have no idea what their money situation is but still buy huge amounts of “stuff.”  Some would call this type of person an impulse buyer; I just call them irresponsible.  In order for you to buy something, you need to have the money to do it.  It wouldn’t be very wise to go out and spend $7,000 in one day on a credit card when you only have a part time job making minimum wage.  I’m not in either one of those situations, but it brings up the point that planning to purchase something really does allow you to manage your money better.  A personal example, if I may…I recently had the desire to buy a brand new iMac.  I thought of some logical reasons to purchase it, but they still didn’t justify the expense in my mind.  So I waited.  And waited.  And as I was waiting, I began to find out how financially possible it was for me to purchase this new computer.  I found some discounts that I could get on the computer and did my research on if it was a valuable investment or not.  The key idea here was that I waited and I planned.  If I would have gone out the first day that I initially had the thought, “Oh, a new iMac would be really cool right now” then I would be broke.  Planning, even for the littlest things, can really help you save in the end.
3. Gas – It’s the hot topic this summer, so naturally the topic gets the chance the grace my web page.  But, unlike most sites, I’m going to give you a tip that has saved me some dough.  Instead of filling up your tank when your close to empty, try filling up when you have half a tank remaining.  It may sound as if you’re spending more than what you would be but you actually aren’t.  Even though you’re filling up more times, you’re spending less in the long run than you would if you were to fill your entire tank once.
4. Discounts – Discounts are the best thing ever.  I’m not even joking.  I save so much money using discounts, that it probably would make some people ill.  I use coupons whenever I can and actually adjust my eating/spending habits towards whatever coupons I have.  The Entertainment Book is a great resource for discounts/coupons.  Although it costs $35 dollars up front, you save much more than that.  From fast food to amusement parks to fine dining, the Entertainment Book has it all.  Right now, when you reserve the 2009 book, you get a free 2008 book.  If you’re interested, it’s well worth it.  Also, the local papers and “junk mail” fliers are good sources for coupons.  If you’re a big online shopper, check out my previous post on how to save some serious dinero (that’s Spanish, not a typo) via some online coupon/discount sites.
5. Budget – I saved the best, and most helpful, for last.  It’s a tough word to say, and some people even refer to as “the other B word.”  But, once you become friends with Mr. Budget, he’s not such a bad guy after all.  I’ve recently undertaken this strategy after inspiration from a recent church service, and it’s panned out quite well.  For those of you who don’t know, a budget is a way to manage your money and see where it’s going.  The greatest part of budgeting is separating your available funds into categories for spending.  I’m not married and have no children, but I budget because I want to save my money for when I really need it.  It’s not just for “old people.”  Since I’ve started budgeting, I feel as if I’m more in tune with my finances and I can pinpoint exactly where every dollar is going.  If you want to start budgeting your money, I’ve included the Budget Model that I use for my budget calculations.  You’re going to need to edit it to your needs, but I’ve already done all of the hard work for you.  Try it out, it really does work.

I hope that these five strategies/tips have inspired you to manage your money just a little better.  Remember, the exact strategies outlined above aren’t going to work for everyone but they give you a general idea as to some tips that may help you out.  If you have any tips of your own, respond to this post and let us know!