25 Jan HOW MUCH TIME DO YOU SPEND ON MANAGING YOUR FINANCES?
Money is a good thing and yes, making money is even better. Your mind is whirring and you come up with several ideas on new ways to make that fast cash. Boom! You land a deal and your callertunes becomes ‘Owo Blow o’ so everyone knows you’re 24 Karat Magic in the air! #blessed
Making money is awesome, established. However, we conveniently forget the nitty gritty part of managing it. When the die is cast, you’ve spent it all and begin to feel like you need cash fast. Your New Year resolutions are like, “I have to monitor my money from today”. Well, let me ask you, how is that going for you? Still spending more than you’re earning? Well done Sir!
Mind you, having a rough idea in your head of where your money goes does not help matters. And the interesting thing is, it really doesn’t take THAT much time to manage your cash. Take a minute to consider how much time you spend on just social media channels (Facebook, Twitter not to mention all the WhatsApp group chatting) and blogs (LindaIkeji fans, we see you in 3D).
What is really important to you? You and your family’s financial security or spending time playing Candy Crush? If your financial security is more important, then manage your money. Take out 30minutes a day or 3-4 hours a week or a whole day in a month, this is more than enough time to sort things out and manage your money. When we say manage your money, it’s pretty simple, we’re saying;
Review Your Budget. Maybe you’ve already budgeted ahead for the next few months, review it once more
in case there is need for new additions and/or subtractions.
Examine Your Upcoming Expenses. Do you have things you would like to buy that you’ve set as goals, a new car or laptop probably? How much will they cost now? How long will it take get these goals fulfilled? How do you intend to finance them, fast cash or set up target savings for goals? Ask yourself these questions.
Look Over Your Income Flow. Look through your income flow once more, where your money is coming from, how much has come in and how much has gone out?
Sort Out Your Bills And Taxes. Everyone must pay taxes, it’s like a necessary evil. Get it over with and sort through your taxes and bills that need to be paid.
Remember, these things are important on the long run. Give your future-self something to thank you for.
#LiveDifferent, RenMoney has got your back,
The RenMoney Blogger.