When I was at school I remember looking at a log rule and never feeling so lost in all my life. School taught us a lot about what we are not good at and less on what we were good at. Its main role it seems is to get you ready to work for someone else, to be disciplined and follow rules.
I often wonder if they had money management as part of the syllabus I wonder how many of us would be in debt to the banks right now.
Money management is not just for business owners, it is for everyone! If you have full control over how you manage money, you can make things so much easier on yourself.
“Money is numbers, numbers never end, and if it takes money to make you happy then you will never find your happiness” Buddha
Money is two extremes, have enough and your life is relaxing, not enough and your stress ruins your very existence.
A learned friend once told me that he buys everything on debit card and does not deal in cash as much as he is able to control, his thesis is based upon the idea if you have spare change in your pocket, the spare change burns a hole and over time the spare change becomes big change.
Some things we can all do to stem the leakage of cash
1. Be conscious about spending at all times
Having a list when going to the supermarket really helps.
Men shop completely differently to woman, they, like a hunter, will locate out the one thing they need and blinker out everything on the shelves to find the thing they seek, and in like battle of wits between you and the supermarket marketing people, you have won and triumphantly leave the store as quickly as possible with the one thing/trophy you wanted.
Woman on the other hand see the supermarket as a way to develop their skills in domestic pricing and ideas. Woman digest the store’s offers and pricing and feel a sense of triumph when they have found ways to get what they want and save money (whilst spending money)
Both ways have their merits; Men always forget something and have to go to the corner store later on spending more, and woman often are bamboozled by clever marketing into buying things they may not need.
The shopping lists our grandmothers told us to make is an excellent lesson in stock taking, when something is finished in the fridge write it down on the fridge list. This will stop forgetting things and giving you more time and you will spend less.
Paying by debit card or by mobile app is a way to pay exactly what you need and keep spare change to a minimum.
2. Balance your spending.
Try to record everything you purchase.
Sometimes my friends make fun of me because I’m always whipping out my phone to record on memo everything I spend whether it’s at the supermarket, the gas station, the cinema, or pretty much anything else.
These days, most people just rely on looking at their bank balance online. But if you only do that, then it allows you to not care what you are spending in the moment. But if you hold yourself accountable by recording everything, then you will not over-spend or overdraw your account.
There are many apps available now to help you do this easier.
3. Commit to saving money.
Speaking of sticking to something, commitment is everything. You can’t do anything half-hearted. You can’t “sometimes” do something and “sometimes not.” You have to be consistent! You have to stay the course!
It’s kind of like going to a gym, how many times we look at the guy with the great physique and feel jealous, you can guarantee they will tell you, if you asked them their secret, they will tell you consistency is key in anything, sure after a couple of months you may feel disappointed you don’t look like ‘The Rock’ or Cindy Crawford in her middle age, but keep at it, the results always come later than you think.
If our schools taught us these financial skills, then what I have talked about in this article might come naturally to us all. But for most of us, it doesn’t. But it’s not rocket science. It’s just like anything — if you want it badly enough, you will do it! If you want to make your financial situation better you can do it! But you just need to start with the decision to do so.
4. Think like an investor:
“10% of all you earn is yours to spend frivolously” The richest Man in Babylon
Sounds counter intuitive right, but think hard about human nature, whenever we try to live like a hermit to save money, at some point you break out of your own confines with the boredom and go and spend big on what we deprived ourselves of. Human life is the pursuit of happiness, so don’t deprive yourself of a beer when you finish work, or that outfit you buy on payday, it’s your treat and we all need to reward ourselves each day. Stay within the ten percent we can spend on ourselves and you won’t go far wrong.
As I said in the introduction, our educational system fails to teach us anything about how to manage money — especially when it comes to how to increase it.
Did the wealthiest people in the world just save $500 a month and leave it at that? Of course not! They learned how to turn that $500 a month into $1,000. Then $10,000. Then $100,000. And so on. You get the point.
You can’t expect to have a solid financial future if you’re not thinking about how to grow your money. So if you start to think like an investor, you’ll see your nest egg expand.
At the heart of this is the ability to be able to pay for investments online in real time.
5. Learn about Crypto Currencies
You must now start to learn about Crypto currencies and their effect on the world’s economies, there are many gurus who predicted their doom, yet they are hanging in there, and comparisons with other investing bubbles is looking less certain by the day, it looks like they are here to stay as a vital investing class for anyone who wants their money to earn money.
The block chain technology powering Crypto Currencies is also a powerful component of business and will soon take center place in many commercial and educational sectors.
6. Be able to have instant access to your cash and assets
No point in practicing all the above methods of saving and making cash if another person is in control of your cash flow, like banks.
The smart and savvy money manager, be you a business accountant, or home keeper, you will be aware of how banks can keep your money for ridiculous long times and make access to your money difficult and your life more stressful because of their archaic procedures.
In 2018 the smart money will be on apps that can transfer cash and commodities online anywhere in real time. The power this gives you to be able to negotiate in real time and make deals on the day will be paramount to your wealth.
Winstantpay is at the center of this revolution, it is an online application that is very easy to use, that lets you buy and send gold, Crypto currencies and normal everyday cash to anyone in the world instantly!
Find out more about Winstantpay here