Lately I am very interested about all things related to learning about money management. Since I have been in the bad debt trap and now having the chance to revive myself from such trap, I think it is only fair to let others be aware of how important this money management lesson should be in our life.
At one point in time, I even think of going for credit counseling since I can’t see how my debt could go away with the money we had in hand. Luckily I found few ways to earn extra income so I think if I know how to manage my money well, sooner or later I would be able to lead a debt-free life (at least get rid of most of the exploding amount of debt)
For now what is most important for me is to be able to control my desire to spend. After all I should bear in my mind that making money is not as easy as spending it so no matter how tempting the offers at the retail stores I should be able to control the urge to spend..haha!
It’s very easy to fall victim to buying on impulse when actually we don’t really need the items. Like shopping for groceries with empty stomach and realize later that you buy too much cooking ingredients that will never see the pot and the pan.
Or picking up a shirt because it’s on sale but after coming home you realize that the color won’t match with any pant or skirt you have.
Perhaps for a start I should try the tips they write on entertainment budget: Having Fun Without Spending a Fortune.
Oh, I’ve done 2 things in order to manage my money. I have canceled my gym membership and most of the magazine subscriptions which I really don’t have the time to read. The lure of being a member to some sort of prestigious club or hype health group is sometimes taking the toll on the pocket so it’s time that we make it a final cut. After all is not everyday I manage to go to the gym and I can always run up and down the stairs of my double storey house.