Money is a crucial topic for people to talk about. Some have it and others do not have it. It isn't easy to initiate a conversation about it, especially when you don't have it. The prices of things are currently expensive, and the inflation in the economy is coming in strong. It is hard to keep going when the prices of things are going higher than what you expect.
Now my question is, can I manage money when I do not have it? The more I think about it, the more it sounds like trying to save water from a basket. As I try to manage what I have, the more it is expensive. I have concluded that managing money has to be a skill. Those money management experts managing huge funds with Ivy League titles, can they manage small funds like I am trying to at the moment?
To understand where my cash has been going into just to understand how better I can manage my cash, then I realized it is quite hard to even outline the list of things that I have spent money on, what has been taking my cash, even when I do not know.
Then, the next step I will be trying is budgeting. This is a common step that people refer to whenever one is looking for a way to manage their finances. I think this step can be quite hard to strict especially when it is hard to stay consistent especially disciplined. I can outline the things that can go on the list, but will I be consistent with those things on the list? I guess this brings me to the change of my habit. I have to develop new habits that align with what is on my budget list, and I have to be hard on myself.
Then what follows it next is the determination to start saving. I guess it has to be one of the oldest ways of avoiding running out of cash. When you meet an elderly person or even our parents, the possibility is that they will tell you to save up money. How much money do you have saved? This is one thing for sure, I have been asked not once, not twice, by old people, especially.
I will be open to the idea of gaining more knowledge in understanding how to manage money. It will boil down to my understanding of what works, especially when it comes to money and managing it. A top-of-the-head idea that clicked with me is to understand how to manage is making more money.
It takes one person to change the fortune of a generation, but they do not tell you how hard it is. Building wealth sounds fancy on the surface. Who does not want to make so much money and leave more than enough for their family behind? But it has to do with managing money well enough for some to be left behind.
In conclusion, money is hard to make, and making more of it is one thing, and then managing it is another.
I am @samostically, a chess player and writer. I love to share the experience I have gained from different battles over the 64 squares and the knowledgeable insights from books I have read. But most importantly, I am a Midnight Owl and I founded the community Midnight Letters.
♟♟♟♟♟♟♟♟♟
Posted Using INLEO
One of the interesting things I learned from a past relationship is that "managing money" is a completely different proposition from "managing NO money."
Managing money tends to be about investing and allocating resources, whicle managing no money tends to revolve around budgeting and setting priorities.
I've found that the most useful thing I could do was track where every single cent goes. Identify "empty spending," meaning all those things where you persuade yourself "it's only a handful of change" so you spend it. It's surprising how apps that cost "only $0.99 a month" turn into something. Same with "oh, I'll just grab a sandwich at the market instead of bringing one I made at home."
I've actually found Hive to be a great way to save a little because it is (more or less) "inaccessible savings." It takes time, and it's a hassle to power down and get the funds out... and in many cases, the "spending opportunity" has passed by the time you get the funds.
Saving is hard, these days... because things keep becoming "unexpectedly expensive," so you end up plundering your savings, just to get something somewhat essential...
Good luck with your money management!
"Empty spending" is the key word. Thank you so much. That's exactly what I miss everytime. The little ones I don't calculate. Thanks for taking your time to share your opinion. I appreciate it!
For me it works that each time I intend to spend something, I stop and ask myself: "Do I really need this?"
Some people put this slogan on a small sheet of paper even in their cash wallet, so they get a remindet once they have to pay.
Hmm I’ll try all these tips and see if it helps with my unnecessary spend, especially saving!
But managing money that is not a lot is hard😔
Thanks for sharing ✨
It's the first emoji for me lol! It’s well 🙃
😁
You have said well. Money can only be managed when you have it.
It's a challenge talking of managing limited money, but the truth is that we still need to cultivate the habit of managing the little fund we have , because when we finally grow the Sair fund fortunately, managing larger funds becomes easier . And like you mentioned , considering budgeting , savings , discipline are all key factors to adopt weda managing littie or much money
If you have to change am habit how it could work I be glad to be aware cause I am also in the same show it hard managing when you
Don't have
Your perspective is very interesting; knowing how to manage our finances is definitely an important factor in our lives. Thanks for sharing.
Yes, money is hard to make and hard to save. I believe if we want to manage our money then we have to cut down unnecessary things we know we don't need. We should list out what we know we need and very important to us a d then stay with the budget we have for them instead of spending pass the budget. I know it's hard but we have to discipline ourselves and also start saving for rainy days.
Thank you so much!
I love this...
And of a truth budgeting and savings aren't that easy, but they are very helpful and necessary steps one should take.
And I love the way you concluded, learning to handle/manage that which you have is key.
Thanks for sharing.
❤️💯❤️
Nothing beats budgeting, especially when it comes to managing funds, but then you only practice budgeting when you have funds. Budget without funds is a dream lol…
Anyways, you have said a lot of meaningful things in this post of yours and i must say it was indeed worth giving it a read. Nice one man…
@nkemakonam89, queen of budgeting lol
Don’t come for me oh lol