Before you start investing:
- Make sure you have a budget established and follow monthly
- Track income and expenses daily
- Pay bills on time
- Save for unplanned expenses in the future
- Prepare for retirement
- If you want something, remember that you can’t afford it until you can buy it twice over
No matter what your goal is, whether it is to live a modest lifestyle with your family or you want to be the next Elon Musk, it is imperative that you have a budget and stick to it.It’s important to know where you are at right now, at this point in your life. Not everyone knows their financial position because they don’t even know what they’re expenses are. They’re not aware of their spending habits.
When I moved back to California, I was lucky enough to be in the Hospitality Academy. I learned a lot of different things about the “real world”. Our senior year, we had a project where we had to put together a budget based on our income from a previous and ongoing project from the entire school year. We got a head start on how getting our finances in order is important. I realized that not everyone is following a budget. People go out into the real world and get a job to pay for the things that they want. For most of us, we weren’t taught about money in our households.
Some think money is evil, others say that money isn’t everything and settle for what they have all the while all these people are complaining because they have no money.
It’s okay to want more money. It’s in our nature to always want more. To never be satisfied with what we have. But at the same time, we have to be grateful for what we do have. The opportunities that our money has brought us up to this point. While we are developing our skills to earn more money, we must be grateful for what we have. Don’t take for granted what you already have because we aren’t taking it with us when we die.
It’s important to keep an eye on where you’re headed but don’t forget where you’re at right now.
I believe that money brings out who we really are. Let’s not be assholes to the world. Being wealthy means much more than we imagine.
If we can’t handle knowing where our money is going right now at $13 an hour, what makes you think you can effectively manage and keep your finances in order at $50 an hour or perhaps $200 an hour?
We must prepare now for our future. We have to know exactly where our money is going right now. We have to have financial goals for things that we want. We have to manage effectively to make the right decisions. We have to have an idea of how we’d like to give back.
Don’t just blindly save your money, don’t blindly believe that everything will be alright when your living paycheck to paycheck. Nothing is okay at that point. You’re broke. Take control of your situation because only you can get yourself out of it. No one will come to save you. We are all here alone. So do something about it.
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