MONEY MANAGER

Who wants money? Well, everybody does. It is the most wanted material here on earth. In this world that’s full of unlimited needs and wants, nobody will live without money. People spend money everyday. They earn it hardly but spend it easily. Then, suddenly they wonder where their money went and sooner they realize they haven’t managed their income wisely.

Everyday is a learning process to me. There are so many things that I acquire and learn everyday. I am also an unwise spender of money. Upon realizing my weakness, I seek for things that would help me to be a better person. For those who spend money unwisely, these are some of the things that I am learning now and applying on my daily living, the things that might also help you on how to spend and manage your money properly.

HOW TO BE A BETTER MONEY MANAGER

1.)    PAY YOURSELF FIRST. The best way to pay yourself is to set aside a part of your income for a savings and not buying unnecessary stuffs for yourself. Savings will help you a lot in the future. Save first before spending. Set some saving goals and time frame. For instance, if you are 20 years old, you can have a saving goal of 500,000 pesos by the age of 25 but be realistic. Base your saving goals on the income you’re having right now. Also, make sure that your goal is attainable so you won’t get discourage. Make saving your habit.

2.)    HONOR THE LORD. Give back with a joyful heart. Be generous to your family and to the poor. Remember that the more you give, the more blessings will bring back to you.

3.)    GET OUT OF DEBT.  This 3^rd step can also be your first step. Stop borrowing money. Pay first your debts. Eliminating your debts is the fastest way to free up your money. Having free from debts will make easily save more money because the sooner you pay your debts, the lesser interest you pay.

4.)    MAKE A BUDGET. Plan your expenses. If you can plan it on a day to day to day bases, do it. Figure out how much you need to spend for the things you really need. Have a discipline to stick on your budget. Do not overspend.

5.)    LIVE SIMPLY. Be frugal. Consider things. Think of the ways on how you can cut off your expenses. For example, cook food for dinner and eat in rather than eat out. Eating outside will cost you to spend more. Replace soda drinks with water. Water contributes for good health. Just enjoy simple pleasures in life. Instead of going to expensive gimmicks why not just watch dvd movies, play cards with some friends or learn to play music instruments.

6.)    INVEST IF YOU CAN. You can put your savings on a time deposit to earn more interest. The longer term, the better. You can also buy stocks and mutual funds but investigate first before you invest so that you can avoid scams.

7.)    ASK GOD. Pray for wisdom. Educate yourself. Read books and attend seminars on money management to add your knowledge and improve your skills.