“Hey, money money money money money money money,” you hear it all the time in rap videos.
But, managing your money is cool, not wasting it on designer clothes, foreign luxury cars, and popping bottles at the club – actually, financial planning is cooler than that. Alright, I won’t front – a nice sport or luxury car is kinda cool, but not if it means you need to go into debt because of it. And with the appropriate financial planning, you CAN drive in a flashy car without putting a strain on yourself.
Money management! You know what money is, right? Money makes the world go round, my friend – Nah, that isn’t true, but money sure can do things for you. It can help fund your passions, dreams and turn a crappy situation into a better one – money can be incredible.
But money isn’t the only cool thing – so is money management! And, money management can be used to achieve financial freedom, which makes you feel cool too. But what exactly is money management? It’s an art, my friend – it’s not just about saving money but also planning your moves and taking control of your money habits.
Here are 4 tips on how to get started:
– Create a budget: This is the number one step in learning money management because there will be no financial freedom in your future without a budget. A budget evens out your spending and calculates how much money you have leftover for saving or retirement.
– Make a money plan aka financial planning: Map out what you want to accomplish, when you want to complete them, and how much money it’s going to take.
– Keep track of your money: Track where your money is coming from and where it’s going – make sure to not spend more than what you have.
– Put your phone to work: Use an app on your phone like Truebill to help with budgeting, saving, and managing your hard-earned money!
If even the thought of money management causes stress, start small – focus on one tip at a time, and eventually, money management won’t seem like such a bad thing after all! And remember: “Money money money money money money money”.