The Language of Finances

Knowing how to handle your money is an important part of life, and it’s a responsible skill to have as an adult. Scrounging for couch change in between your paychecks isn’t pretty and can really bring you down. You may find yourself asking, “How did I get here?” It may be because you never learned the language of money, or for that matter, your personal finances. So here are some steps you can take to learn the native tongue of money.

Money Talks

Yes, that’s right, money can talk. It opens doors to fancy VIP rooms, gets you the best drinks, and can persuade mostly anyone with a single look. But how? You’ve never heard it speak a single word, but you don’t have to. You just have to be aware of the money, its presence. Once you acknowledge the cash, it takes care of the rest.

  • They say “You gotta spend money to make money,” and it’s true when you see your bank statement. Every month, review where your money has been.
  • Money spent is money owed; collect your bills together and note what you owe, to who, and when payment is due.
  • Have any investments? Check on those from time-to-time, just enough to know where the market is heading.
  • If you haven’t seen your credit score, you should make sure it isn’t getting into any trouble with a credit report.

Now that you talk the talk, you need to learn how to walk the walk.

Battle Plan

When you make a personal budget, you’re basically mapping out a battle plan for the month. The artillery is your money and the enemy is expenses. You need to have a good strategy for managing expenses so you can save money for other things, pleasure or future, your choice.

  • If you clicked that budget calculator link, then you know there are different kinds of expenses you may have, anything from groceries to basic entertainment. You want to figure out how much you spend on each when budgeting to better manage your personal finances.
  • Now, look at your monthly costs and really think about what you can cut out. Take a hard look soldier, because I’m sure you don’t need another pair of shoes you’ll never wear, or a fancy watch when your current one works just fine. Make a side note of where you can save, get coupons, or even discounts.
  • Have a target in mind. Are you saving for a new piece of tech? Or maybe you want to finally get rid of your debt. Well you can’t do that when you frivolously spend on the now. Incorporate that target in your plan so you can prepare for the battle ahead. All variables should be accounted for.

Budget 2.0

Keep up-to-date with your budget and your bills. If you have to make adjustments, well that’s the way life works. How many times has money changed over the years? You’ve got to keep up or you’ll lose. So keep it together and take into account things like bills, credit cards, and bank accounts when you go on a binge or a night out. If you lose yourself in the thrill of your date with money, there is always some back up.

Money has a language all of its own, and like any language, anything can change with tense and a little infliction. You’ve got to work at making your money work and being responsible for how you use it, but at the end of the month, a dollar saved is a dollar earned.

One Response to The Language of Finances

  1. Thanks for the budget calculator! It’s a great way to keep that budget in check.

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