HOW TO MANAGE MONEY

“IT’S NOT YOUR SALARY THAT MAKES YOU RICH; IT’S YOUR SPENDING HABITS.”   - Charles A. Jaffe

Money, like time, needs to be managed well and wisely.  And know that the natural consequence of life is that MONEY follows work.  That basically meant “GET IT” has to come first.  Followed by spending it, as well as, save it or give it away.  NOTE that there are ONLY TWO (2) LEGAL ways to get money which is: 1.) Someone gives it to you out of the goodness of their heart, or 2.) you earned it.  It is quite a good luck when an amount of money is given to you out of the goodness of their heart.  Rare are those people these days.  But “work for pay” is quite different for it meant: an allowance based on a specified series of chores that are over and above what is expected of an individual as part of either his personal development or his normal role as “ a contributing member of a household.”  Work –for- pay chores are what a disciplinarian designate as a special chore that will become as the child’s special responsibility.  It is one way also of motivating an individual on being a good citizen.

Money is always a social issue.  It never exists in isolation.  Like, TIME as mentioned above, is also like EMOTIONS as Natasha Munson meant in her quote as:  is something you must control to keep your life on the right track.  It is absolutely about CHOICES.  You can’t get it alone.  You have to make a social contract with someone else and then fulfill your end of that contract like getting a job.  You can’t spend it alone.  You have to go back into society and make decisions.

WHY SAVE RATHER THAN SPEND?

                Many people say “SAVING’s a bore!”  They do not know how beneficial it is to save.  It is wise enough to have savings on hand for emergencies.  Even the bible encourages "Upon the first day of the week let every one of you lay by him in store, as God hath prospered him, that there be no gatherings when I come. '   - 1 Corinthians 16:2

HOW YOU CAN SAVE

1)      Before buying an item, consider whether it is really necessary or not

2)      If it belongs to a NEED, search for the new items on sale or for good used items.  But remember:  “Looking for good deals can take a lot of time.”

3)      Don’t be impulsive; sleep on the matter.  If you still feel that the item is important, you may consider looking for something similar in a discount or secondhand shop.  Also, you can often save money if you do not feel compelled to buy popular name brands.  Further, rather than buying the latest styles at expensive stores, why not use hand me downs?

4)      Consider that it usually cost less to buy ingredients and cook meals than it does to eat out.  Why not teach school aged children to prepare sandwich instead of giving them money to buy more expensive food?  It is much healthier that way and easier on your pocket.

As an advice to all:   “Beware of greed.  Find contentment by living within your means.”