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    Financial Budgeting Learn How To Manage Your Money, Spending, Savings, Credit Card Debt And Strategies To Increase Your Wealth
    Financial Budgeting Learn How To Manage Your Money, Spending, Savings, Credit Card Debt And Strategies To Increase Your Wealth
    Financial Budgeting Learn How To Manage Your Money, Spending, Savings, Credit Card Debt And Strategies To Increase Your Wealth
    Ebook107 pages2 hours

    Financial Budgeting Learn How To Manage Your Money, Spending, Savings, Credit Card Debt And Strategies To Increase Your Wealth

    By Robert Anderson

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    About this ebook

    Everyone has an opportunity to grow their money and get out of debt, but you must start to make this a reality. Be warned, though, when your income starts to grow, it is easy to fall into temptation and start spending more than you are earning again.  
    Refrain and continue saving and investing your money. 

    Every small step counts. Every coin kept and invested counts. If you use the profit you make, you will be unable to grow your wealth. Instead, allow your investment to grow by using the profits as part of the next years principal. With time, you will have a venture that can not only buy you whatever you want but one that will continue to grow over the years.  

    Taking advice from experts in the field you wish to invest is critical to your investment. Would you go to a farmer when you are sick, or would you seek out a doctor? The same way, take your investment knowledge from those who understand the market dynamics and can offer you advice to help grow your investment.  

    Manage your credit cards with responsibility, or they will sink you into a hole. The easiest way to get into debt is to spend more than you earn. You need to keep your expenses lower than your income at all times. Watch your credit card spending because that's how we often find ourselves overspending.  

    To get out of debt is to pay. The longer it takes you to pay, the higher the interest rate you will be required to pay. Either consolidate your debt or tackle one debt at a time. You might want to reduce your expenses, so you have more money to spread around. Always start by saving 10% of your income. A safety net is essential for your peace of mind.  

    Budgeting does not have to be complicated. The more you simplify it, the better. As long as you track your expenses and stick to your budget, it will work for you. Ensure that you don't view it as a task but as a necessary tool to help you stay ahead, get a real financial picture, and manage your money correctly.  

    Each chapter in this book holds nuggets that will be valuable to you and those around you. Read this book and re-read it. Practice the tips outlined and stay focused and disciplined. Write your financial goal and stick it where you can see it every day, and it will motivate you to keep working on your plan and to achieve your goal.  

    LanguageEnglish
    PublisherRobert Anderson
    Release dateAug 17, 2019
    ISBN9781393123620
    Financial Budgeting Learn How To Manage Your Money, Spending, Savings, Credit Card Debt And Strategies To Increase Your Wealth
    Author

    Robert Anderson

    ROBERT ANDERSON is also the author of Little Fugue. He lives in New York City and teaches writing at the Nationwide Institute in Flushing, Queens.

    Read more from Robert Anderson

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    Book preview

    Financial Budgeting Learn How To Manage Your Money, Spending, Savings, Credit Card Debt And Strategies To Increase Your Wealth - Robert Anderson

    © Copyright 2019 Robert Anderson- All rights reserved.

    In no way is it legal to reproduce, duplicate, or transmit any part of this document in either electronic means or in printed format. Recording of this publication is strictly prohibited and any storage of this document is not allowed unless with written permission from the publisher. All rights reserved.

    The information provided herein is stated to be truthful and consistent, in that any liability, in terms of inattention or otherwise, by any usage or abuse of any policies, processes, or directions contained within is the solitary and utter responsibility of the recipient reader. Under no circumstances will any legal re- sponsibility or blame be held against the publisher for any reparation, damages, or monetary loss due to the information herein, either directly or indirectly.

    Respective authors own all copyrights not held by the publisher.

    Legal Notice:

    This book is copyright protected. This is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part or the content within this book without the consent of the author or copyright owner. Legal action will be pursued if this is breached.

    Disclaimer Notice:

    Please note the information contained within this document is for educational and entertainment purposes only. Every attempt has been made to provide accurate, up to date and reliable complete information. No warranties of any kind are expressed or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice.

    By reading this document, the reader agrees that under no circumstances are we responsible for any loss- es, direct or indirect, which are incurred as a result of the use of information contained within this docu- ment, including, but not limited to, —errors, omissions, or inaccuracies.

    Introduction

    You can’t have a great marriage without money, at least enough of it. How many marriages have fallen apart because the inability to meet physical and financial needs have caused so much stress? You can’t take your wife to dinner or a romantic getaway without money. You can’t dress up well for your husband if you don’t have money for clothes. You won’t have time for your spouse if you’re too busy trying to make ends meet.

    You also can’t have meaningful relationships with other people without money. Texting people require money. If you think connecting through Facebook is free, it isn’t - you need money to buy a gadget and to avail of Internet connection. It also takes money to go out and spend quality time with friends. As with marriage, you can’t really spend quality time with them if you’re too preoccupied trying to make ends meet.

    When you’re honest with yourself, you’ll agree that to a great extent, money is key to having peace of mind. It’s easy to say God provides when you’re not in need. But when you’re neck-deep in debt and you don’t have money to pay for this month’s rent, you’ll probably be singing a different tune.

    Lastly, no matter how much you want to finance the great work your church or your favorite charitable organization is doing, you can’t do that without extra money. If you aren’t able to provide for your needs, how can you provide for others’?

    If you’re ready to start successfully managing your personal finances, turn the page and let’s go!

    Chapter 1: Money=Happiness

    Your money has a profound effect on how you live your life. For instance, it determines what you can do and where you can go. This makes it important to master how to manage your money if you are to meet your current and future goals in life. You have to know what to spend your money on, when and how to save, how to invest etc. In other words, many of the things that you do to make you happy somehow have a direct link to money. Without it, you cannot have them! But just because your money helps you get all you want doesn’t mean that you spend it all you want otherwise unhappiness will start creeping in. In other words, if you find yourself spending all your money and sometimes going over to incur debt in the name of getting that happiness, you really cannot be happy; instead, what you get is fear, worry, anxiety and depression all links to your inability to live the life you want. In this regard, it is safe to conclude that your happiness when it comes to money is largely dependent on your ability to manage it the way you want.

    This makes budgeting a crucial element in the entire process. It doesn’t matter how much money you earn, if you cannot manage it through proper budgeting, you can never become rich. Unfortunately, these are not skills that are taught in school as the other regular subjects are. As such, many of us only learn the hard way when we end up in debt or simply end up living from paycheck to paycheck. With that kind of lifestyle, your money is simply controlling you because when you have it (on payday) you use it for all the wrong reasons only for you to realize that the important aspects of your life have not been catered for. In this case, our idea of savings is that it is the extra money that remains after spending money on our needs. However, in fact, saving is not what you keep after expenses and if you maintain that mindset, you will never save because needs are always insatiable.

    Proper managing of your money involves you taking charge or control over it and not the money controlling you. Through budgeting, you ensure that you always have enough money for the things that you need. So what is this budgeting?

    Budgeting Defined

    The broad way of looking at a budget is the allocation of money for some purpose. A budget can be described as a plan for your future income and expenditure. It is a good guideline to be used to know how to spend and save. A good budget ensures that you have covered all your bills on time, you have anticipated emergencies and you are finally able to meet your financial goals. The aim of budgeting is to ensure that you spend less than what you earn.

    It is unfortunate that some people usually view budgeting as a way of depriving themselves and hence associate it with people who have money problems. Contrary to that belief, budgeting is just a program that helps you in your spending. I mentioned that budgeting is a way of being deliberate with how you allocate money to different needs. When you look at the bigger picture, a budget helps you be smart with your money. It is also important to note that although most of the people resort to budgeting after realizing that they have money problems, it is meant to be a proactive approach rather than a reactive one.

    Have you ever wondered why public and private institutions work with budgets even with all the money that they have? Well, the point here is simple; without a budget, you have no plan for your money so anything goes. As I said, a budget is a plan, which is specially designed for money. And as the saying goes; if you have no plan, any road leads there!

    Budgeting Basics

    It can be said that the hardest part about living on a budget is sticking to it. We always have the best of intentions when we create a personal or household budget but is actually following the budget that is the most difficult part of the whole situation. However, I would argue that forming the habit is the difficult part. After that habit is formed, it can be fairly easy to stick to it. 

    We don’t all know what living on a budget entails. When you hear that

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