1. Incorrect tool. When building a house, a carpenter would never try using a hammer to cut a 2×4. It was not designed for that. Likewise, a budget is just one of many financial tools. It is useful for planning how to spend, but, for…
Category: Money Matters
As we near the holiday season, greater pressure is exerted on all of us to spend. While much of that pressure comes from advertising and holiday sales, a significant amount comes from the expectations of our own traditions. Traditions often involve travel, gifts, decorations, sporting…
It’s been about a month since I suggested you keep track of all of your spending. Before my students completed Part 2 of this assignment, I would have them reflect on the day-to-day experiences of tracking. Some thought it was “too much trouble” keeping track…
Money management is not only important for the present, but also for the future. If you want to have a good relationship with money you will need to know something about yours: how much do you have to spend each month (i.e., take-home pay), and…
Most people have spending problems, not financial problems. That is, they have “sufficient” income to meet their basic needs and many of their wants. However, it’s their unplanned and uncontrolled spending that gets them into money troubles. We are bombarded daily with hundreds, perhaps…
How many times have you said to yourself, “If I only had a little extra money I could . . . ?” There are only three legal ways to have more money to spend: (1) someone gives it to you (inheritance, find, lottery, etc.), (2)…
We often spend without giving much thought to what we are doing. Many people develop spending behaviors that, over time, result in financial problems. A few years ago I wrote the following questions to help people make a conscious evaluation before spending. I had them…
