A Simple Financial Management Survival Guide
Now I am not talking about someone who has a few million dollars. I am talking about the everyday common folk. Do your or I really need a money expert?
All financial advice/management survival guides will tell you the exact same thing. There has only ever been just one way to be rewarded in business and in life: make more money than you spend. This is so simple it hurts, but we see everyday on TV and internet the problems the government has with their budget and they have tons of MONEY EXPERTS. Problem too many fingers in the pie and the government spends more than it taxes(makes). For you and I it is that we usually spend more than we make and don’t put anything aside.
So once again, this may sound so self-evident that it’s idiotic to have to say it, but if you would just think about how umpteen millions of Americans in truth do not earn more than we spend. Thousands if not millions of people looking for a way out of the hole they have created with excess debt. People often take on huge amounts of debt and, still if they are paying the minimum monthly payments, they still owe more than they make between the principle and interest.
Be Your Owe Money Expert with these Action Steps below:
Pay Off Your Debts Quickly As Possible
Shortage financing can in reality be practiced with success, but the idea isn’t to continually be in debt forever. Sure enough, we could have to borrow at some point in time when we’re putting together our business or simply getting rolling on our own after we graduate, only we must do all we can to minimize our debts and pay them off as quickly as possible. Learn the difference between wants and needs and you will also be ahead of the financial management game of life.
We want to maximize our income for prosperity, while this is definitely easier said than done for many people. But every bit crucial, we have to minimize expenses. This is even harder for even more people! Expenses from things we think when need, but in reality we could live without.
Consumer Envy – Get Rid of IT
While overspending or consuming can make life entertaining and fun, our society is captivated with the cult of consumerism. People are seeming determined to spend every last cent they make in income, particularly whenever they watch neighbors or colleagues with the latest trendy “thing.”
If they’ve exhausted their income on the things that are essentials in our society – housing, utilities, groceries, personal health, transportation, and communication tools – they’re now enticed to drop even more money on discretionary goods and services like eating out instead of cooking, taking fancy vacations or weekend getaways, fancier stereo systems, satellite televisions, giant-screen TVs, a bigger house, a sweet new car, a boat… the list is never ending!
Salesmen are schooled “not to leave money on the table” and marketers are groomed to compete for every last dollar in the fear that, if they don’t get the sale, somebody else will beat them to it.
If you would like to have money for something that will genuinely contribute quality to your life in a long-lasting way, then you must put some of your money aside either in savings account or investments that are not too risky for you. This also means you have to hold your expenses to a minimum. Again don’t spend more than you earn.
So lets look at a few practical ideas and tips for minimizing your monthly expenses:
· For your business, think about a virtual office. You’ll save on rent, permanent employees, and commuting. Plus, try marketing online as much as possible.
· For your personal life, cook more and eat out less (even for lunch). When you go shopping for groceries, use coupons when possible and look for sales .
· Take more road trips closer to home and discover your hometown through the eyes of a tourist.
· If you need to finance something that is not an absolute essential, think twice about it; take better care of what you already have so you don’t need to replace things so frequently.
Smart financial folks are those who take the time to understand their finances, explore ways to bring down expenses, and share with their families about why it is essential to manage your money. By gaining understanding and control over your money and deciding if you actually need to buy something, you will instantly begin to see extra money in your savings account at the end of every month.
Now Do You Really Need a MONEY EXPERT. Instead become one.