Have you ever wondered what happened to an income you’ve received at one point or the other. The money comes and before you know it, it’s finished. Then you start having that money-matter monologue “How come my money has finished” “What did I do with the money” “But it’s only this and this I used money for” etc. Mind you, it’s the small expenses here, small expenses there that make up accumulated expenses and then the money is exhausted.
You’ll keep wondering where your money goes if you don’t track or monitor your expenses. No matter how wealthy or rich you are, if you can’t control or monitor your expenses, you’ll most probably end up in different financial messes. This is because every opportunity that presents itself will be an approved expense on your list.
“Money, like emotions, is something you must control to keep your life on the right track”- Natasha Munson
People who can’t monitor or control their expenses will end up using their money for secondary expenses then borrow money for their basic needs.
- Track your monthly expenses and have a general overview of what you’ll be spending money for each month;
- From your tracking, separate your wants from your needs;
- Prioritize your needs and limit your wants. No one is telling you not to pamper yourself or buy luxury things for yourself, they just shouldn’t be at the expense of your needs;
- In the order of priority, allocate money to your needs and wants. You should also do well to stick to your allocation.
Finally, remember you have to learn to live within your means before increasing your means. Get control of your spending habits.
We believe in you!
To your financial independence and freedom