Making money is one of the money most difficult thing in life, maybe because money determines 80% of this life or because a life without money is not complete but in all this struggles after making money in hard way some people still squander the money.
Money management is a very important aspect and no matter how big it is, you must have proper money management and must be put in place so that the money will not be the thing of the past. What are the things that must be put in place so that the money will not just be a memory.
Spending lesser than you earn is something we don’t take seriously again, when you spend everything you earn immediately I don’t believe is a nice way to go about money, when you have plans one source of income must not be a way of living your life, you must be able to have many sources and save up to invest.
You can’t have all these visions by spending all you earn at ones you can’t achieve it, it a process that comes with time, you must plan, save up because a Rome was not built a day.
You must learn to attend to emergency, this is the aspect we make irrational decisions that affect our whole plan, first thing you need to to do is have what I call emergency money, as you saving toward a goal try as much as possible for emergency money.
Emergency pressure and fear of missing of out on an opportunity must be addressed with caution at all times, emergency must be kept separately without touching until something important shows.
What works for mr A might not work for mr B, please make sure you do what is best for you and apply money management in everything you do.
Thanks for your time.
