You hear it every day—these are difficult times. The economy continues to be soft; unemployment hovers dangerously around nine percent.
You don’t have to be reminded, but it is a tough world facing you out there—enough economic fear is around for everyone.
So what can you do? Just imagine you are in a great ship, sailing on rough waters. Do not kid yourselves—these are rough waters!
If you prepare now, you can find your way to overcome around the hard times—and put yourself on top!
What are the basics of smart money management? Knowledge!
First, like any great journey, your guide is your most valuable asset. Think of your financial future as a voyage—after all, it is the most extraordinary journey of your life! How can you expect to know where you are without a map?
The road map of your financial life is your budget—it is where you are now, and where you would like to be in the future.
The first step for establishing a budget is writing down all your expenses—this means everything! Not only do you have to register your bills and your payments, but every dollar you spend. If each morning you go to the coffee shop for a double latte, write it down. This course will allow you see exactly how much money is going out for incidentals.
Remember—do not be shy! Think of it as a journal. You do not want to miss a thing.
The goal of a budget is that you quickly begin to get an idea of the challenges before you during demanding economic times. The key to success is learning to live within your means, and that will never happen until you know what those “means” really are!