BUDGET YOUR MONEY
“Most Americans and Canadians (& earthlings) can save thousands annually with smarter energy choices. That’s a lot of bucket list vacations, while providing far better for your own future and living a richer life today.”
― Natalie Pace, The ABCs of Money
My Dad managed his budget well. When I was young, I remember on a few rare occasions that I needed to ask my father for a few dollars…for a school trip or money for “hot dog day” at school. He never denied me, but I still had a lump of guilt in my gut when I asked.
I would watch him reach for his trusty calendar notebook. He used it to plan his days and to track his finances and never failed to record his expense. I would then watch him write my name down, reach in his pocket for the cash and then write the amount of money he gave me. He was on top of every penny of his finances, whether it was coming or going and every month that trusty calendar notebook helped balance with banks statements and credit card statements.
He is much older now and semi-retired. I did mention, he planned his days, well he still does. Among being semi-retired and still remaining busy he never fails to keep track of his money.
It sounds like a lot of hassle or work to do what he does, but it really isn’t. He kept receipts in the book and matched them with the statements when they came in. Keeping on top where your money goes on a regular bases makes life so much easier when it comes time to reconcile with the bank statements at the end of the month. You are not surprised and you can catch mistakes, because mistake do happen.
We all work very hard each day for the money we make. Why not work hard at managing it too? The money you make is your time away from other things. If you work hard at making the money, why would you not work hard at managing it too so it can stretch and grow and do something for you, like a trip or investing in a home and so on. Why would you not want to know where your money is going?
So how did my Dad learn to manage his money? Well, he does that for a living so he naturally applied that to home finances too.
Many of us learn the hard way though. We go to school to get a great job. Well, some of us are lucky to land a job in the field we want and many of us land a job in other fields we did not expect.
Regardless, we became adults and begin making money, and creating expenses.
However, the school system nerve taught us how to manage money. We weren’t taught the do’s and don’ts and planning or pitfalls that could happen if you are wise with your finances.
Schools are so adamant about an education “so you can get a good job” but don’t follow through with the fundamentals of finance and how to manage money when it starts coming in…or even before it starts coming in.
So, we all have to learn on our own, that is how we grow and become wise. Since the school system does not incorporate the fundamentals of finance as a standard requirement starting at a young age and through out high school, then we are forced to learn the hard way.
In an ideal world…..We finally received our education and landed our dream job and the money starts rolling in! But once the money is earned, most of us want things and begin to purchase them without thinking. There is no plan or road map for that income that we worked so hard for. Many folks decide to get a credit card. Getting a credit card is exciting …but it should be used with care. It’s not free money. If the credit card is abused, they can be maxed quickly. When you can’t pay off the balance when the month is up then interest rates begin to compound and soon you are struggling to pay minimum payment and see no light at the end of the tunnel because the interest rates are keeping you at bay from remotely paying them off. If you miss payments you will be hit with even higher interest rates and your credit rating will begin to be tarnished. Getting into this downward spiral can be overwhelming and extremely challenging to overcome.
You see how things can happen if you don’t manage your money wisely. You probably have been there or are there or know someone that is. If you are diligent at managing your money, pay your bills on time, and have a savings account that is building then you are rare and fortunate not to be in a downward spiral, going no where fast.
Make the best of your Finances going forward into the New Year. Manage your money wisely, make a budget plan for upcoming events, trips, or whatever you want or need and track your spending accordingly.
Reach for the goals you want and get them!
Written by Deborah @ (DCS) DatabaseCreationSite.com where Creative People Make Awesome Databases for Personal Use, Businesses, and for Writers.
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