Here is the short and sweet system.
Get some paper and your bills for the last 4 months.
Write in a column what you spent and add it up, month to month.
Go find your income for the last 4 months.
Compare those numbers, how's it look? If you are like the other 80% of the population the out-flow is bigger than the in-flow.
Now for the management program, step one decide if you want to be broke your whole life and die an average 25 years younger than you need to.
Or, do some mental workout and get into a program to regain the wealth muscles.
What is it going to be? If you are happy with debt, go back to the TV, otherwise read on.
I wrote the "wealth muscles" and that is what it is.
Like all muscles you have not used in a while, for some a long while.
The muscles creak and complain in the beginning but once you get past your initial whining you will be fine.
There are many who were in a worse situation than you and are doing just fine.
Hang in there and you will be one of the wealthy.
The first step was to decide, rich or poor.
Now take as much time as needed and write down a few reasons you want to be debt free, or better yet wealthy.
Put this paper somewhere you will see it most days.
As when the going gets tough the poor go shopping but the wealthy go read the reasons they are doing this and you will need this list some days.
Step two, go back to the list of expenses and have a look at them.
Now do not beat yourself up, which ones were not really needed? Do you see a pattern, month to month of similar spending? There likely is, you need to watch out for these expenses in coming months and do not make them.
An example is the coffee shop, if you are in debt, stop going there.
If you tell me you need the pick up from the coffee, an apple has more pick up than the caffeine in coffee.
Trust me on this one I am a doctor.
The ultimate key is to spend less than you make, with the extra PAY OFF DEBT.
Especially credit card debt, of any sort of debt credit card is the most evil.
There is no way you want to carry any credit card debt from month to month.
The quickest way to the poor house is to pay interest on a credit card.
Step three, get your debts to zero.
Find the highest interest rate and the lowest amount of debt and pay it off with all the extra money you got.
Then go to the next and continue until done.
Step four, celebrate because you have now entered the 20% group and can start learning about wealth building.
The price you and your family pay because of debt is a thousand times greater than the stuff you bought was worth.
Do the work to get debt free, it is an amazing feeling to look at everything you have and know you own it.
Be smart, be wealthy.
Get some paper and your bills for the last 4 months.
Write in a column what you spent and add it up, month to month.
Go find your income for the last 4 months.
Compare those numbers, how's it look? If you are like the other 80% of the population the out-flow is bigger than the in-flow.
Now for the management program, step one decide if you want to be broke your whole life and die an average 25 years younger than you need to.
Or, do some mental workout and get into a program to regain the wealth muscles.
What is it going to be? If you are happy with debt, go back to the TV, otherwise read on.
I wrote the "wealth muscles" and that is what it is.
Like all muscles you have not used in a while, for some a long while.
The muscles creak and complain in the beginning but once you get past your initial whining you will be fine.
There are many who were in a worse situation than you and are doing just fine.
Hang in there and you will be one of the wealthy.
The first step was to decide, rich or poor.
Now take as much time as needed and write down a few reasons you want to be debt free, or better yet wealthy.
Put this paper somewhere you will see it most days.
As when the going gets tough the poor go shopping but the wealthy go read the reasons they are doing this and you will need this list some days.
Step two, go back to the list of expenses and have a look at them.
Now do not beat yourself up, which ones were not really needed? Do you see a pattern, month to month of similar spending? There likely is, you need to watch out for these expenses in coming months and do not make them.
An example is the coffee shop, if you are in debt, stop going there.
If you tell me you need the pick up from the coffee, an apple has more pick up than the caffeine in coffee.
Trust me on this one I am a doctor.
The ultimate key is to spend less than you make, with the extra PAY OFF DEBT.
Especially credit card debt, of any sort of debt credit card is the most evil.
There is no way you want to carry any credit card debt from month to month.
The quickest way to the poor house is to pay interest on a credit card.
Step three, get your debts to zero.
Find the highest interest rate and the lowest amount of debt and pay it off with all the extra money you got.
Then go to the next and continue until done.
Step four, celebrate because you have now entered the 20% group and can start learning about wealth building.
The price you and your family pay because of debt is a thousand times greater than the stuff you bought was worth.
Do the work to get debt free, it is an amazing feeling to look at everything you have and know you own it.
Be smart, be wealthy.