How To Manage “Money” Better
Right Now
When it comes to being a responsible adult and/or having responsibilities, sometimes life can be very good to us and/or bad to us, but most of the time we all can agree, it can be very challenging. With that being said – life is so much easier and simple when you have good “financial skills”. So, managing your “hard-earned” money or knowing how to “manage money” – is the most basic and important thing to understand and master, if you ever want to get out debt, save more money, better yourself, live a better “lifestyle”, help out other people, purchase your first-time home and/or just simply WIN at life..
” Stop making excuses and complaining about your life and why you’re not where “YOU” want to be at – in your life “
Spending money believe it or not has a huge impact on your credit score, your debt or “overall debt”, your living conditions, your lifestyle, who you associate yourself with, and how you carry yourself as a person.. Making money isn’t the hard part, it’s what you do “with it” that matters most. Either you waste your money, or you waste your time chasing after the money. The only difference is – is that money is money, but when you start wasting your time on the things that really don’t matter, you start to realize you’ve lost a part of your life now that you can “never get back”.
” Understand that no amount of money will ever define you as a person, you are who you are, because of “YOU” – not money ”
Understanding Money Management.
What is Money Management?
” Is the process of budgeting, saving, investing, spending or otherwise overseeing that you spend less than what you make and/or earn. “Money Management” can also be referred to more narrowly as “learning to make better choices with your hard-earned money”.. The basics of money management is to allow you to manage your money better and too really understand nearly every aspect of your personal finances and in your personal life. So, when it comes to achieving any short-term and/or long-term goals, it’s not about saying “NO” I don’t have the money for that, it’s about developing a solid plan and “sticking to it”, that allows you to say “YES” to everything that is not only necessarily most important to you, but it also benefits you “now” and in your “future”.. Money Management will change your mindset which will help you avoid from continuingly making those bad decisions with your money “
Here’s A Quick Check List To Help
You Get Started
1. Income – Know what you receive, make, and/or earn monthly.
2. Expenses – Know how much you spend every month.
3. Balance – Expenses must be less than income. If not, then you have negative “left over money” and you need to then cut back on your expenses or bring in more money and/or income.
4. Save – This should be like a game or a challenge, see if you can save a quick $1,000 – when you do, go treat yourself or buy you something, just don’t overdo it. Do good get rewarded, do bad – get nothing.
5. Consistency – Stick with it. Any budget or system only works if you’re really trying to make it work – so don’t give up..
6. Monitor – Keeping track of your money and your credit is very important, when done right – you can create a solid financial foundation for the future and for your kids (if any).
Obviously we need money to survive, and without it people paint a picture that – life is pretty meaningless.. Keep this in mind and ask yourself, “why am I here?” Am I here to chase money which is a humanly made object? Maybe I’m here to accomplish a mission? What do I do with my money? What can I offer? What does money and time mean to me? Does money really make me happy? What is my purpose for living?
Basically, you want to stick with what you love doing that gives you enough money to afford what you want and need also known as “living within your means”. Believe it or not 75% of individuals do not understand this.. Don’t do stuff just for the money, job wise – are you there just for a paycheck? Do it for the passion and for others.. Can you say, man I love my job!? Probably not.. Many of us wake up and stick to an everyday life routine like complain, complain, complain.. It’s not about how much you make and/or earn because everybody makes money – it really comes down to how you “manage” your money that matters most and makes the real difference…
” In the end we only REGRET the chances we didn’t take ”
Being Smart About Your Money
Learn How To Mange Your Money Better – Lets Talk!
I know that you don’t care but, do want to know why poor people always stay broke?? They get paid and immediately start spending!! They do this every tax season as well – the bigger the check the more money they absolutely need to and/or have to spend.. They have no sense of saving, zero investment skills, they ignore money management tips, they don’t care about their “other problems” that’s going on around them, they will just try to “figure it” out and/or “fix it” when it happens, there’s no plans for the future, not even trying to better themselves now – nothing.. Just a very bad mindset! In the process they never think about tomorrow or the “what if’s” in life.. One of the main reasons why they continue to stay broke, is because they don’t see the purpose in saving or why they should even bother saving their money for in the first place.. Number one skill you need to learn and master before you can start investing, saving, and getting out of debt is – “Money Management”.. It’s a lot simpler than you think…
” If you don’t know how to manage your current finances properly – you’re not going to understand how to manage $10,000 or $100,000 not even $1,000. So, when you’re continuously careless with your money – you’re just hurting yourself financially at the end of the day.. Do you ever ask yourself, when is enough – enough?? “
Here Is Something To Think About Real Quick
You know those people who win the lottery.. They’re given all that money – right? And if they don’t know how to properly manage their winnings, can you guess what happens? They end up broke or in “debt” simply because they didn’t know nor understand how to manage their money..
If you don’t change your mindset or your “spending habits” – if you like blowing money and you find yourself living paycheck to paycheck (meaning your income provides or supports 90% of your lifestyle) – you need to learn to change your ways and/or your lifestyle.. If you don’t know how to or you simply can’t start making smarter choices with your money – 100% guaranteed you will always find yourself still in debt and still struggling – wondering why you can’t ever catch a break or get ahead in life.. Once you start becoming more smarter about your money – and not living paycheck to paycheck anymore (meaning your income provides or supports 90% of your lifestyle) – you can start investing your hard-earned money to make “you” more money, invest in yourself, having a savings account, an emergency fund, simply start regaining your life back and start getting ahead in life now – slowly but surely..
5 Basic Tips To Help You With
Your “Hard Earned” Money
If you’re currently broke and what you have been doing and keep doing – over and over in the previous years, and you thought everything was working out and clearly it isn’t working for you – you’re in denial.. Simple TIPS and ADVICE to help guide you out of your current struggles or help you get started, start saving, start getting your life back on track, maybe start getting ahead in life finally or maybe you make enough money, but you just don’t have a solid system and/or method in place..
” Understanding the choices that you made that put you where you’re at today, it’s never too late to start making better choices towards changing your financial life.. “
1. You need a car and a “JOB”
I know this sounds silly and you may already have one or both, but this is pretty basic and very important.. Obviously without a ride it’s hard to make money, and if you’re not employed and you don’t have any money “saved” well you’re in a bad spot – if bills aren’t getting paid, how are you managing your life? Or you live at home with your parents, or you live with room-mates, and/or you rely on other people for your wants and needs – how are you taking steps to better your life? You need to wake up and grow up and start taking some accountability and responsibility of your life..
In today’s society, transportation is a must along with a job.. Get a job and keep it! If you already have one, great! Focus on a side job like Uber-Eats, deliver packages for Amazon Flex, Spark, become a shopper for Instacart, be a Lyft or Uber driver and/or being a DoorDash driver..
” a lot of people have this concept of just working that 9-5 job or a “career job”, I know plenty of people that work from home that make more money than people that have a so-called CAREER CHOICE.. “
No matter what it is – it has to bring in some kind of money.. A car equals a job which equals money which then equals living and/or taking steps to better your life.. Making excuses and crying about things in life will “never fix” these so-called problems nor “change” the situation nor outcome. You’re in charge of your own life, make a change – make a difference.. Start today!
2. Don’t Waste Your Money or Time Starting Up A Business
If you have zero money or little money and you’re thinking about investing in a “startup” business, and you never did ANY type of online business structure before, and you have zero “online” experience – this a very very bad idea and financial move honestly.. It’s not the solution to financial freedom (where many people think that it is – it’s really not). Understanding that a job – you get paid for the number of hours that you worked which is “guaranteed money” or a source of income. As far as the aspect of a “startup” business – that is your time, your energy, and your money that you’re putting into or investing into your “startup” business, which is very very risky – and you’re not going to get paid immediately for it.. It may take several months even up to a year or longer before you start seeing any type of income and/or “real results”.. Many times, individuals that are “new” to trying to make money online and/or start an online business – they’re more than likely going to lose and waste a lot of money and time – simply because let’s face it, making money online and/or starting up a business it’s truly hard and very time consuming..
THERE’S NO SUCH THING AS GETTING RICH QUICK. If you honestly think going online and learning and paying for these so called “affiliate marketing courses” and you start investing all your money into amazon and/or you have these so called “amazon experts” they claim that they can start up a amazon business for you and run it for you – but it will cost you $10,000 to get started – and you honestly think next month or even next week you’ll make all this money to solve all of your “financial problems” because this is what these so-called “online coaches” said to do.. Or you come across these individuals that tell you making money online is easy all you have to do is sign up for “digital products” become an affiliate with them – then start posting or creating links and/or ADS on “Pinterest” and everytime someone clicks on your “idea” or “Pin” you think they will buy that “random product” and you’ll get paid?? Sadly, it doesn’t work like that and it NEVER WILL!
3. Manage Your Finances – “Stick To A Budget”
You need to learn to track your money – income and all expenses.. Learn to see how you’re spending your money and where all of your money is going.. You need to learn to spend less than what you make and/or earn.. Stop trying to impress other broke people..
4. Married or In A Relationship? Team Up – Not Down
This one is a no-brainer.. Too many married couples or just couples in general, they like to keep everything separate, but the fact is – if “both” of you could team up and stop living like room-mates – you can have some serious money put up and/or aside for each-other.. Come up with a system that benefits you both and it not only works – but is pretty fair.. Do you think it’s fair that you make more money than your partner does? While the bills are paid, you have more “play money” or money in your “savings” – while your partner probably does not.. You will be very surprised if you both combined bank accounts and/or income, you will see how much “play money” or “savings” is really left over every single month – so you both can start saving up for a big purchase like a house, a car, a vacation, possibly invest in some property, even start up a side business, etc..
5. Start Saving The Smart Way
Learn to start saving 5% or 10% of your monthly income right now..
” Example: Say your income is $2,500 a month.. You want to make sure that you’re putting up and/or aside $125/$250 every month towards your “emergency fund account”, and for any long- or short-term goals.. Simply we never know what life will throw at us.. But there will be situations in your life that – if you’re not putting aside and/or saving money now – you will soon wish that you did, because when life hits hard and knocks you down – you will need money put aside or “saved” to cope with those life challenges.. “
When it comes to saving your money, you need to have at least three or six month’s worth of (all your living expenses) put aside into an account strictly for any “emergencies only” basically if you were to lose your job, a natural disaster or any tragic life event may occur like a sudden death of a loved one. So being ready for anything is better than not being ready – “broke”, trying to figure everything out with nothing…
(Please note: six months being worst case scenario, iMoney Daily recommends that you have at least two or three months put aside into your emergency fund)
” Example: your monthly expenses are $2,500 you should have about $15,000 “saved” in your “emergency fund account” – that’s $2,500 x 6 = $15,000 or $2,500 x 2 = $5,000 or $2,500 x 3 = $7,500.. Then from there once you reach your amount – you can start saving money for a new car, a vacation, invest in property, invest into a retirement account, start up a side business, invest in yourself – whatever you want to get into. “
OR
If you run a business and you’re collecting checks and/or cash, you need to start doing this with those checks and/or cash RIGHT NOW..
” Example: a $10,000 check which is normally deposited into your business account this method is for every single time that you get paid (same 5%, 35%, and 50% rule applies for every single check and/or cash that you receive).. Minus 5% out of that $10,000 check is ($500) and you put that up into your “savings account” (This will be for your new car, new home, vacation, future investments, etc..). Now there’s $9,500 left.. Now minus 35% of $9,500 is ($3,325) this amount goes into your “tax account” for your annual taxes. Now there’s $6,175 left.. 50% of that and/or half is $3,087. Now you will make a $3,087 deposit or transfer into your “personal home account” which is your (living expenses or everyday living, this is your so-called “paycheck” and this is how your bills are paid) and the other $3,087 you will deposit or transfer into your “business expense account” (for marketing, advertising, business cards, website, YouTube, social media, etc..) anything that you will need to run your business successfully.. “
Being prepared will keep you out of debt, stress free, and even keep you away of possibly having to file for bankruptcy.. So, to “avoid” the worse in life – you have to “prepare for it..” Understanding that your “emergency fund account” – is not for a new car, a vacation, new clothes, or to buy a new house – it’s not designed for those things.. Your emergency fund account is strictly used to keep your head above water when everything else is trying to pull you under.. Once you have six month’s worth of (all living expenses) put up and/or aside (iMoney Daily recommends two or three months) – you will no longer need to “save” and/or put money towards that “emergency fund account” anymore. The money that you were initially putting up and/or aside for your “emergency fund account” – you can now start investing it – IN YOU!
Maybe you want to go back to school and become a better you? Invest in your education. Look into investing in the stock market, a mutual fund, a Roth IRA account, focus on your retirement, start up that business that you’ve always dreamed of, or maybe you want to make money on the side, whatever.. Sometimes making those few small little sacrifices “right now” really make a huge difference in the long run that we sometimes need for a better future…
” Again, you have to always prepare for the worse things in life to happen.. The more you’re prepared for it, and you have a “BACK UP PLAN” the “EASIER“ life is.. ”