If you can’t keep a budget you have company-the GOVERNMENT! That’s why they take money automatically from your paycheck every week. If you are self employed, you need to send in quarterly payments.
Unfortunately, we can’t print money like the government when our budgets don’t work out. The major key to this is automatic payments to yourself.
As in automatically taking out money for savings, you need to automatically take out money for your daily, weekly, and monthly obligations. When your check comes in every week or every two weeks don’t start spending it without a plan.
Your plan does not have to be very fancy just detailed and accurate. If you have taken the time to total your monthly bills, you know exactly what is owed and you know how much money you need to cover these.
Priorities include mortgage, rent, car payments, and utilities. You need a place to live and a vehicle to take you to work or your place of business. Pay these FIRST!
Don’t spend on nonessentials until your bills are covered. Most people take their check, go out to eat, to a movie, buy something on impulse and will easily go through $100 without thinking. They also will not know where the money went or why they can’t pay the bills.
Jot down every penny you spend on a daily basis. Believe me this will be an eye opener.
A major key to staying out of debt is to watch where your money goes and to pay your monetary obligations on time-every time.
Jacques
CreatingWealthThatLasts
2 comments:
Jacques, thank you for the reminder on the importance of a budget. It is needed more now than it has been. As you say-the government sure has a hard time even coming close to keeping a budget. Some time soon they are going to have to pay up to our nations creditors. They are not going to like it if they say "we do not have it." How does a country go bankrupt?
Dan and Deanna "Marketing Unscrambled"
Hi jacques .. it is interesting how the governments can just print money .. our Central bank has just agreed to print another £25billion .. how many trees do we need? - well I know it won't be via trees a great deal of it will be memo money .. noted on paper. It is quite terrible .. let's sincerely hope we get through this recession as quickly as possible.
Hilary Melton-Butcher
Positive Letters
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