Imagine you’re the CEO of your household, (which you are). Based upon on how you manage your money, would your corporation survive? Let’s go a little deeper in fact, would you hire yourself?
If you are answering NO, you need to really think about how to make some changes in the way you manager your money.
You have the choice right now to decide whether you want to control your spending or let your spending control you.
Now that you’ve had the chance to answer that question, I hope all of you are answering that you want to be in control of your spending.
Here are 5 ways to get your started.
- Create a Budget – Every dollar is accounted for in a corporation. You need to incorporate that within your household and create a budget. When you create a budget, you’ll have to say no to unplanned purchases if not within the budget.
- Make it a priority to save – Saving is important. Having extra cash on hand will help for emergencies. Not having cash will lead you to charging your emergencies
- Say no to debt – Your corporation cannot prosper if you carry the burden of debt.
- Make it a family affair – Your family should be a part of your finances. Hold an accountability meeting each month and create goals that each member is working towards. Celebrate when each milestone is reached! Kids can be a great asset in these meetings. Be open to their ideas and watch how these meetings will be lifelong lessons for the entire family. Check out my post Family Finances: Make it a Family Affair
- Plan for the future. – Christmas and Birthdays happen each year. Cars and appliances will eventually need to be replaced and the list can go on and on. Planning for these events will help you stay out of debt.