1) Write down what you spend for a period of time. This way you will be able to actually see where the money goes and any possible "black holes." You can group your expenditures into categories, but keep it simple (ie debt, food, rent, recreation [this is for stuff like eating out, movies, etc.], transportation, etc).
2) Analyze what you see.
3) Make some changes. If you have debt, work at getting rid of it. It really is a ball and chain. If rent is too high, maybe it's time to move (I'm considering this myself). Too much money spent on eating out, time to cut back a little. I just took a look at my food bill and it was about $100 more than last month, but I din't feel like it was $100 better, so I will be more careful next month.
4) I've been doing this for years. At first it was hard and felt like I was gritting my teeth and depriving myself but eventually it became second nature. I was never one much for movies or eating out, but I loved to buy books on Amazon and some electronics. We all have our things we like to splurge on. I don't have a huge salary, had to change my habits, but eventually got out of debt and now have money in the bank and no money worries. Being debt free and having some extra money will also give you a sense of freedom and more life options.
5) I do believe you are a hard worker and a smart guy and can be successful when it comes to money.
6) On the subject of the money economy and a different look at it, you might find this blog interesting - Moneyless World, Free World. This guy has been living without money for many years. To me, it doesn't look like an easy life, buy he seems happy.
http://zerocurrency.blogspot.com/
On the subject of philosophy and personal finance in general, I really like - Early Retirement Extreme
Well this vid reminds me of the days when I was lost and confused on how to make it big or make money on my own. Now I am working from home selling import export goods online, mostly digital items and gifts for this upcoming Christmas. My profits have been looking great and I was able to pay off my mortgage also. Everyone can do this, work from home and earn big profits online. The question is HOW and WHERE to find info.
A couple of other basic personal finance sites. "Simple Dollar" and "Get Rich Slowly." Both were started by two guys who were in debt.
GRS got a "Best Blogs 2011" award from Time Magazine.
About GRS: "You will not find any get-rich-quick schemes here. Nor will you find multi-level marketing fads or hot stock tips. Instead, you’ll find daily information about personal finance and related topics."
http://www.getrichslowly.org/blog/
About TSD: "The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two."
Hi John,
ReplyDeleteJust some thoughts which may be helpful.
1) Write down what you spend for a period of time. This way you will be able to actually see where the money goes and any possible "black holes." You can group your expenditures into categories, but keep it simple (ie debt, food, rent, recreation [this is for stuff like eating out, movies, etc.], transportation, etc).
2) Analyze what you see.
3) Make some changes. If you have debt, work at getting rid of it. It really is a ball and chain. If rent is too high, maybe it's time to move (I'm considering this myself). Too much money spent on eating out, time to cut back a little. I just took a look at my food bill and it was about $100 more than last month, but I din't feel like it was $100 better, so I will be more careful next month.
4) I've been doing this for years. At first it was hard and felt like I was gritting my teeth and depriving myself but eventually it became second nature. I was never one much for movies or eating out, but I loved to buy books on Amazon and some electronics. We all have our things we like to splurge on. I don't have a huge salary, had to change my habits, but eventually got out of debt and now have money in the bank and no money worries. Being debt free and having some extra money will also give you a sense of freedom and more life options.
5) I do believe you are a hard worker and a smart guy and can be successful when it comes to money.
6) On the subject of the money economy and a different look at it, you might find this blog interesting - Moneyless World, Free World. This guy has been living without money for many years. To me, it doesn't look like an easy life, buy he seems happy.
http://zerocurrency.blogspot.com/
On the subject of philosophy and personal finance in general, I really like - Early Retirement Extreme
http://earlyretirementextreme.com/
Good luck! McBe
Well this vid reminds me of the days when I was lost and confused on how to make it big or make money on my own. Now I am working from home selling import export goods online, mostly digital items and gifts for this upcoming Christmas. My profits have been looking great and I was able to pay off my mortgage also. Everyone can do this, work from home and earn big profits online. The question is HOW and WHERE to find info.
ReplyDeleteA couple of other basic personal finance sites. "Simple Dollar" and "Get Rich Slowly." Both were started by two guys who were in debt.
ReplyDeleteGRS got a "Best Blogs 2011" award from Time Magazine.
About GRS: "You will not find any get-rich-quick schemes here. Nor will you find multi-level marketing fads or hot stock tips. Instead, you’ll find daily information about personal finance and related topics."
http://www.getrichslowly.org/blog/
About TSD: "The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two."
http://www.thesimpledollar.com/
McBe