May 27 2008
Find a Plan To Manage a Full Wallet
One thing I keep realizing - yes, I know I said keep - is that a full wallet can be dangerous. It’s not that having money that can lead to reckless spending. It’s not having a plan. Without deciding in advance where and how you’ll spend, the dollars can quickly get out of hand. Literally.
Haven’t you had one of those moments where you took a couple of hundred dollars out of the bank and realized soon after that you were down to $20. Not only that, you really didn’t have an idea of where the money had gone?
That’s usually the point where I start thinking back through the past couple of days, thinking of where I’d been and what I’d bought. After doing the math, I can “find” that money again but in reality it’s gone.
Budgeting is an evil word for many people. Maybe it feels too constraining or maybe it’s because spending money just feels good. Whatever the reason, a plan or outline of spending is so necessary to know what you have and where it’s going.
Without it, your paycheques can just evapourate. Believe me, I know!
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