The best time to budget was probably last week. Just like running isn’t just for those who are super fit, budgets aren’t just for those who have enough money. So, how can track and manage your money when you don’t have enough?
I’m certain you already know what I mean when I say, “Time is money.” You know that your time is valuable, but is it really a commodity like money? Is it actually anything like the coins and bills in your pocket?
When you look at your money, you really think you have only two options; pay off debt, or save for retirement. But are these the only options you have? Or could you do BOTH?
Having debt is like going swimming with a gigantic stone around your neck. You might be the best swimmer in the world, but you’re not going to go far. It is possible to live a life that is debt-free. Get rid of that dead weight and start living a life that is free and easy.
Success is not something we’re born with, but rather a simple set of behaviours that define our actions and hence results. If you can manage your willpower, you too can achieve the great successes had by the most profitable real estate investors.
You manage what you measure. This is true in all areas of life, and especially true about your money.
Start to measure yourself financially and you’ll soon be able to manage it better. Take the time to make a measurement of your finances to see how close you are to your goals.
If you have a budget that your family is struggling with, you probably need to find a way to inject some fun into your life. ‘Fun’ and ‘Budget’ aren’t two words that go together. Don’t believe me? Try watching a Senate hearing on budget reforms. I almost fell asleep just writing that.
No, you need to find ways to make your budget allow room for fun. Give yourself activities to plan, events to look forward to, and purchases to anticipate. Putting the fun back into your life helps you get through a tight budget.
Carrying too much debt creates unnecessary additional costs and stress.
It’s not normal, it shouldn’t be a standard way of living, and you shouldn’t accept that as “that’s just how it is.”
Divorce is a serious issue that unfortunately is a part of life. It can be hard on you, your spouse and the children, if you have any. It doesn’t have to be hard on your wallet if you take these steps to protect yourself from any further turmoil and disaster.
In my last post, I wrote about sharing with you the PennyWise Lifestyle.
So what did I do in the month of May?
Right after the conclusion of the above PennyWise Workshop, my husband and I spent most of May reviewing the local property market.