Do you control your money or do feel that money controls you?
As employees we receive our pay each week, fornightly or monthly. Whenever we are paid it doesn't really matter, what does matter is what you are doing with that pay.
Most people know how much their regular income is but do you really know how much of that income is going out? Or more importantly where that income is going. OK, of course you use it to pay the bills, buy food, run the car,etc, etc, etc. But my question to you is do you really know dollar for dollar where your money goes? This is really important and if you are always just living pay day to pay day then you need to start looking more closely at your spending.
The first step to taking control of your finances is to do a budget. Its a bit like starting any project, you need to have a plan and your budget is the first step. This can be such a valuable tool for realising your goals no matter how big or small. Carry a notebook with you and keep a record of everything that you spend money on. This will soon tell you where you money is going & open your eyes to how much things really cost once you start to keep track. Keep this record for at least a month, but make sure you include absolutely everything- that cup of coffee, or extra few dollars for lunch money, or change for parking meter.
This is your absolute starting point if you want to control your finances and get to where you want to be. We all know it is possible to get to where you want to go, its just that you need to know how to go about it and have a clear picture of your income and expenses. It may not be a pretty picture at first, but you have to make that start.
Most people know how much their regular income is but do you really know how much of that income is going out? Or more importantly where that income is going. OK, of course you use it to pay the bills, buy food, run the car,etc, etc, etc. But my question to you is do you really know dollar for dollar where your money goes? This is really important and if you are always just living pay day to pay day then you need to start looking more closely at your spending.
The first step to taking control of your finances is to do a budget. Its a bit like starting any project, you need to have a plan and your budget is the first step. This can be such a valuable tool for realising your goals no matter how big or small. Carry a notebook with you and keep a record of everything that you spend money on. This will soon tell you where you money is going & open your eyes to how much things really cost once you start to keep track. Keep this record for at least a month, but make sure you include absolutely everything- that cup of coffee, or extra few dollars for lunch money, or change for parking meter.
This is your absolute starting point if you want to control your finances and get to where you want to be. We all know it is possible to get to where you want to go, its just that you need to know how to go about it and have a clear picture of your income and expenses. It may not be a pretty picture at first, but you have to make that start.
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