Do you live paycheck-to-paycheck? Do you find it hard to save up for anything? Do you always find that your money disappears? If the answer is yes to any of these questions, then continue reading this blog.
You can gain control of your money by following these steps: Set a monthly budget using technology such as word or excel, or even just using a pen and paper. You start by writing down your income, and then writing down all of your bills and necessities (such as rent/mortgage payments). You should subtract your expenses from your income and see if you have any money remaining. If you do have money remaining, then you should start building up your savings account to help you climb out of your current situation. You should also try to pay extra payments on any credit cards, loans and/or car payments you have so that you can clear that ongoing expense a lot sooner. If you find that you don't have any money left, then you'll need to review your expenses and try to cut some things away. It can be challenging, but there are probably things that you buy or spend money on that you don't need, and in the long run once you get savings built up you can buy some of these things. You can also call all of your service providers and ask for discounts, and shop around for better deals to lower your monthly expenses. Once you build up a little bit of money in your savings account, then you'll feel very good about yourself and your money situation. If you get a pay rise at work or find an extra stream of income, then you should try to build up your savings before you increase your expenses. I recommend reading The Richest Man in Babylon for some interesting stories and tips on how to manage your money.
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AuthorI have managed over $1 Billion worth of projects successfully, and I have learned a lot along the way. We can make managing projects easier if we share knowledge with each other and invest in one another. Archives
March 2017
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