The purpose of my previous articles was to help the readers a little with some ideas to save money, how to control their spending with their credit card, how they can find ways to save at their shopping. Controlling your cash outflow is the first step-as I previously wrote-to a better and financially more secure life style.
And after you learned how to save a little money by shopping smart, controlling your credit card spending, the next step to learn is how the money works for you, how to invest and come out of the rat race. I do not have intention to give the readers lecture about the world of investments. What I want to do is to give some hints where the individual can turn in order to improve his/her financial knowledge.
The MONEY itself does not make you wealthy. If you do not have the necesseary knowledge and experience than however big amount you win or inherit you can loose it very-very rapidly!!!Many stories I have already heard about lottery winners who bought luxury cars, vacations, spent their fortune in bars, casinos. These are all take money out of your pocket! Enjoy the luxury life when you learned how to make it constant for the rest of your life!!!
Your strong financial knowledge, your high financial literacy: this is which can make you rich provided you invest time and energy. And than you can build huge wealth even if you start with just a couple of 100 dollars. Those ones who want to get rich fast can finish poor very!!!
So first step is to learn how the money works for you. To do it you must read some strongly recommend books. My former mentor Brassica has some outstanding books for beginners to obtain basic financial knowledge. His first three books are very good start for those who want improve their financial literacy. His crypto Custodian game is also very effective tool for learning the basics.
Spend Too Much on Christmas?
The holidays are over. January is here. I think you know what happens next. Yes, Groundhog Day is just around the corner, but I am referring to the credit card bills. Did you pay for your Christmas gifts with a credit card?
If you are like most people, you will be very surprised when you receive your bill. Unless, that is, you are in the very small percentage who created a budget for gifts and actually stuck to it.
Most of us fail to plan how much we are going to spend, but more importantly, where that money is going to come from. I have a simple process to determine how much you can spend.
Are you ready to hear it? Alright, here goes… “If you cannot pay cash, then you cannot afford it.” That’s right; if you have not heard those words before, then you may really have to think about it for a second.
Don’t have money for a new car? Then you cannot afford it. How about those shoes that are on sale, this weekend only? No cash? They can wait. How about that pizza? No cash? Then you cannot afford it. You should begin to notice a problem developing if you can’t afford pizza. Somewhere along the line, you either forgot to plan, or just did not care.
Stay on track this year. If you have not developed a budget, then start today. I have a very easy to use, free copy on our website. You can download it through the Free Resources section of our website found below.
Make this the year that you develop a plan and follow it.
To avoid going further into debt in the future, there are a few steps you must follow. The first is to stop borrowing money. You simply cannot get out of debt if you keep using it as a tool.
Some of the other key steps include developing a plan (budget or spending plan) attacking your debt via the debt-snowball method, praying about your situation (it does indeed work) and setting up a