I have always maintained that the origin of all great fortune is a small fortune. We will never have the opportunity to learn to manage a million dollars if we do not learn to manage $ 1,000 or $ 200 before.
Many people mistakenly think that the time to start worrying about how to manage your finances is when they have enough money in the bank, but the truth is that unless they begin to learn the principles that lead to financial success from now on, they will never have enough money. as to worry about how to manage it.
There is a state of constant struggle between us and all those who want to get their hands on the money that we have been able to get so hard, and in this battle we are winners or losers. All the financial decisions we make move us closer to or further from our goals.
When it comes to our financial situation, we are not all created equal. Many people are born in the midst of poverty, a few have been born to families with immense fortunes, while the vast majority of us are born somewhere in between.
However, there are two things that all of us have in common: First, none of us had the opportunity to choose the circumstances of our birth.
None of us had the opportunity to choose to be born poor, rich, or average, and second, what all of us are absolutely free to do is choose whether we want to live a life of poverty, a life of wealth, or simply live a life average.
It is in our hands to choose the kind of life we want to live.
One of the first steps we can take to start taking control of our finances is to develop a spending budget. Very few people have a budget.
Perhaps because most of them feel a terrifying fear at the idea of discovering how much they spend each month and how they spend it. They prefer to live in the dark, hoping that everything is going well, without understanding that the but solution that we can give to our financial problems is to ignore them, pretending that they solve themselves.
Whether you make a million dollars a year or two hundred dollars a week, if you don't budget, you will never be in complete control of your finances.
So once you finish reading this column, I am going to ask you to go and look at all the checks that you have written in the last year, look for the bank statements, your credit card receipts and how much paper can give you directions on how is that you have spent your money month by month, for the last 12 months.
Yes! I know it will take some time to do this, but this time is nothing compared to what this exercise can represent for your financial future.
So arm yourself with paper and pencil and courage and patience. Determine your fixed expenses like rent, insurance, and the phone, and your variable expenses like clothing, medical expenses, and so on, and find out where your money is going each month. Don't let another day go by, find a pen and paper and start taking control of your finances today.
