Finances, Lifestyle

How To Budget


One thing to do and that not everyone wants to do is coordinate your income with your expenses. Yeah it’s not fun, but it helps to visually see what you have in income and what your expenses are. When you do you may find that there are things that you spend money on that you can cut out. Realizing your source/s of income, lifestyle, spending habits, current job and house location, cost of living, debts and loans determines your budget. Starting to take charge of your finances is one sure way of becoming successful in a field of self-fulfillment and success. How can you do that? Here are some tips that can help.

Make math and numbers a lifetime partner. Compare prices, do comparison shopping and try to get the most bang for your buck. For example if you are buying food and you have a four ounce bag for $5.99 and an eight ounce bag for $7.99, you have a family, or you to have people over for dinner, like to cook, which would be the better buy? Yeah, the $7.99. Pricing and most bang for your buck, any discounts you can snag, all good stuff. Chinese businessmen exercise effective purchasing techniques. They save as much as they can and usually purchase in bulk because in the long run they actually save money.

Gambling tops the chart in making your life as chaotic as it could get. Gambling strips you off your finances and keeps you vulnerable from the threats of bankruptcy. If you have a gambling issue please get help because gambling, any addiction is going to lead to ruin. Also, know Your Wants vs Needs. Limit your spending on something which you are not in dire need of. Do you really need another handbag or a designer one? One or two handbags for casual wear and two for evening in colors that coordinate with all colors, awesome. Seriously no one needs 10 casual and 10 evening bags etc…unless you are a high prominent figure always in the media and know you will get flack for wearing the same stuff, even then, recycle! Outfits can be altered to make them seem like new. If you don’t have a big income, really watch what you spend. One thing you can do is save up for a splurge gift for yourself once a month, maybe a spa day.

Those who have achieved financial stability, even among the wealthy know that you cannot live in a world where you consume more than what you can produce. 2 and 2 make 4, not 7. Finances are the same if you earn $5000 household income, spending $8000 is not smart because you will always be paying credit card catch up. Making a budget list is a great tool, so that each month you know and can see in black and white what your expenses are and what your income is.

Also if you suddenly come into a tidy sum of money, don’t be foolish and blow it all at once. Invest some of it, take some time to think of what you can do to treat yourself with some of it. Maybe a spa retreat weekend if you are stressed, maybe a getaway weekend with your spouse somewhere really romantic. Prosperity preachers and the like try to tell us that money is infinite, well no it is not. Not to say you should not have a positive attitude, believe in our talents to earn money with the gifts Elohim gave you. You still have be realistic in what you have now in resources and what you have now in terms of expenses. Since emergency bills can always pop up having a savings or money market account for emergencies only is not a bad idea either.

Have a Blessed Day. Namaste.

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