No Good With Money? Here’s What To Do
No one is good at everything.
For many people, managing money is a struggle- but you can improve that skill, just like any other learned skill.
If you’re having trouble getting your finances in order, the advice in this guide can help you. Being ‘no good with money’ can feel like a curse, but the truth is, anybody can make a change to their finances and their lives if they really want to.
Start working your way through the pointers here, and in no time at all you should find that your financial situation has improved significantly.
Contents
What Do You Tell Yourself?
Most people don’t realize that we live up to the stories we tell ourselves. You may believe these stories to be true, but you can actually change them and begin living out a new story whenever you like. If you’re constantly telling yourself stories like:
- I’m broke
- I’m terrible with money
- I never have enough money
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You will live up to these stories. ‘I am’ and other ‘I’ statements are very powerful. Change them into something else that you’d rather be true and repeat them whenever you feel your old story start to creep back in. A lot of what goes on in our lives all starts from a mental perspective first.
Your circle of friends also plays a big part, so ask your friends for personal finance advice. Those same friends can help you stay on track financially.
Can a Pro Help You?
Just because you change your story, doesn’t mean you’re automatically going to get out of debt or become a master of finances. That is just the beginning. You could call Ronald D. Weiss or a similar seasoned professional for advice on what to do when you know your finances just aren’t in the state that they should be in. If you’re on a budget, many financial advisors will offer their services for free.
Key Issues With Budgets
Create a budget, and with it, know your numbers exactly. Know how much money you have coming in and going out. In addition, figure out how much you want to spend on things like food and entertainment. Give yourself a limit on your spending, and stick to it.
Instead of using your credit card, take cash out of the bank so you have an actual incentive to stick to your limits, ensuring you don’t go over. Seeing money leave your wallet can make a big impact.
Goals- and Tracking Things
Having financial goals is a great way to stop buying junk you don’t need and take positive steps towards having a better life every day. Do you want to have a set amount for retirement? Perhaps you just want to buy a new car, or put a downpayment on a house? Write out your goals and keep them somewhere you can see them. This will keep you on track.
If you’re recovering from a financial setback, this article may help.
Track absolutely everything you spend, so you can make changes if you need to. Even small purchases can add up.
Apps
Apps can help you to keep track of your accounts in real time, so you don’t have to wonder whether you should be buying something (if you’re wondering, the answer is probably ‘no’ anyway).
Pay Yourself First
Pay yourself a small amount of money to play with first, and then put money away to be saved, towards your goals, and even kept in your bank ready for your bills. Getting used to tracking will make the world of difference!
This post is for educational purposes only.
Ken Boyd
Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies
Co-Founder: accountinged.com
(email) ken@stltest.net
(website and blog) https://www.accountingaccidentally.com/
(you tube channel) kenboydstl
Image: Bullseye, Jeff Turner CC by 2.0