If you want to be rich and have a lot of money, you need to know how to handle the money you have. The video below is a simple way to understand where your money is going each month.
Before we get to the video, let’s talk about why so many people seem to run from this subject. I will speak from my personal experience and hope it sheds some light to help.
Growing up all I saw as a kid was my mother stuffing bills behind the dresser, borrowing money from my aunt (who in my mind was the villain because she had money), was told that to make it I needed to work for the city or state, was never taught about saving money and never got an allowance, wore mostly hand me downs from my brothers and watched my mother cry many times because we just couldn’t afford to do simple things like get pizza.
Now I know a lot of people grew up like this and the message always seemed to be that the rich people (or people who had any more money then us) were jerks. What I didn’t know is that they were just trying to teach us some financial principles but we didn’t want to face the demons.
And to re-enforce these bad habits of financial management, TV, radio and other forms promoted the blissful feelings of spending whatever you had on the new purse, shoes, beer, etc. etc. Not that my mom had extra money to spend on these things but those were the ideas I got stuck in my head. Immediate gratification versus feeling free.
Fast forward to now and the journey I had to take. The only way things changes is when I faced myself and the true that I sucked at financial management of my own money. Once I did that and let other people show me how I can gain control, life started to change.
This is where I now help people who want to start a home based business (i.e., network marketing, internet marketing, etc.) to improve their financial situation but have no clue of their finances. I show them simple strategies that they can implement while working on the personal development side of these issues. For one to grow you must know where you are at. This video will help along those lines.
Do this exercise and you will understand your spending habits and then can start to change them. Believe me, there is much more to improving your ideas about money, budgeting and handling your finances but this is an easy place to start and can help you propel yourself forward. Don’t be fooled at the simplicity of this exercise.
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