Key to Financial Control Budgeting Finances
For the average household, the money coming in never seems to match the money going out. Which is why every pay day, we face a lot of stress in deciding what to spend the money on, how much and when.
We all want to live well and comfortably without busting our budget. We want to have the right amount of money when we need to pay the rent, utilities, and other necessary expenses but still have some money left to buy those things we want. Oh, yes we want to have “financial control” as economists have put it.
Budgeting finances is the key to have that financial control we have all been dreaming of. Budgeting finances isn’t as complex as Differential Calculus or as abstract as Symbolic Logic. Budgeting finances is equal to Common Sense.
Below are five simple keys to financial control:
1. CUT THE CREDIT CARDS
It is best if you don’t use credit cards or even own one. If you think you’re responsible enough to use it in an emergency situation, then leave one for those times. Buying a Gucci dress for a hot date isn’t an emergency situation. Paying for school tuition fee or electric bills is a bright example of an emergency situation.
Only fools keep more than one credit card. If you want to go down the pool of debt then own ten.
Keeping ourselves away from temptation is the first step to effective finance budgeting and financial … Read more...