Welcome everyone to another edition of #Money Monday #MM.
*If you missed last week’s Money Monday here is the link —> Money Monday #1: Early Bird Gets The Worm
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A lot of people tend to spend money whether cash or credit and don’t account for their money correctly. Also people tend to claim they are saving but don’t see or measure their actual saving habits. The best way to measure and account for your money is by tracking and recording its movements. When I say this I don’t mean you have to go a take an accounting class, (via may be kind of boring to you) but just by creating a template or getting on form from searching google to track your spending and savings, you will know more directly and understand how well you manage you money. It is best you start doing this from early on and even teach your children if you have any or even a friend so they can practice better management skills.
I have learned by myself how to manage and account for my money at a very young age. I was doing this at the start of age 12. I just went a grab a blank notebook, and drew lines stating where the money is coming from, the amount of money, the date I go the money, what did do with the money, where did I spend the money or saved the money, who I gave the money, by just using simple addition and subtract signs, and balancing the total account every transaction.
In today’s economy the flow of money and managing it well is a vital skill to progress in your life. So start today by creating a method to track your spending and your saving.
It’s Money Monday,
Remember to get your money right.
- Five Reasons You Should Budget (turbotax.intuit.com)
- Money Resolutions for the New Year: A 4-Step Plan to Achieve Your Goals (quizzle.com)
- 4 Ways to Keep More of Your Monthly Income (quizzle.com)
- Savings Account: Finding Money to Deposit into Your Account (visualeconomics.com)