Does it seem that you never have quite enough money to spend? Well, how often do you buy items you can't really afford? How often do you buy something you don't really need just because it's on sale? Well, if you answer these questions as "frequently", you have found your article. I want to share what I personally did and how I overcome controlling my expenses.
Admittedly, being in control with your spending is much easier in theory than in practice, especially if you live at home and receive allowance or earn money from a job. Why? Because your parents are likely to pay most of the bills. And as a result, a large amount of your money may be available for you to spend according to your will. And spending money can be real fun!
But did you know that it is the best time for you to learn to manage your money, while you're still at home with your parents? It is best to learn so, before the harsh financial realities of life confront you.
"Money is for a protection". The wise King Solomon wrote this phrase and it is totally true. But it will only protect you if you learn how to control your spending. Doing so will boost your confidence and enables you to be ready for future instances.
Here are some practical steps on how to take control of your spending before your spending takes control of you:
Keep a Record. For at least one month, record the amount of money you receive and the date you received it. Then, take note of each item you buy and the amount it cost. At the end of the month, tally and add up the amount received and the amount spent. With this, you can track where your money goes and also help you determine if you're spending too much money than needed.
Make a Budget. First, you may list all income you expect to receive in a month. Second, list how you plan to spend your money. As konth progresses, write the amount you actually spend on each planned expenses. Also, don't forget to record all unplanned spendings.
Adjust your Habits. If you are spending more than you anticipated on some items and are accumulatinh debt, you should adjust your spending habits. Pay your debts. Stay in control. Try to keep a balanced attitude over money.
Remember:
"Money has its place, but it is not everything"
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this one is good. i wonder why there are no comments in here. try to post something about love.. 😊 life experience in love. many people are into this kind of topic... money topics are also good though... are you active in reading and commenting in other articles?