Life Balance - Problems With Money
Problems with money can quite simply destroy lives.
Obviously, we all need money in order to live our lives but when finances are not handled well, problems with money can grow out of control.
If you are going to achieve life balance, you MUST get control of your finances.
People mis-quote the Bible and state "Money is the root of all evil.
" That is an incorrect statement.
The Bible teaches us that "...
the love of money of a root of all kinds of evil.
" (1 Tim 6:10) It is this love of money which generally gets people into to trouble with their finances.
By focusing on all of the things money can buy (happiness not being one of them) people spend more than they make, borrow more than they can pay and simply focus on how they can get more money.
If you want to achieve true life balance, you have to get over your problems with money.
Check out these first steps and getting past your problems with money.
Admit it - This is the first step with any kind of problem, right? You have to admit that there is a problem.
If you run out of money each month, you have a problem.
If you have consumer debt hanging around on credit cards, you have a problem.
Don't be fooled into thinking that you are in such bad shape just because everyone you know is in worse shape.
Admit you have problems with money and get started fixing what needs fixed.
No more debt - The amount of debt that that is carried on credit cards is astounding.
To begin making a change, do not ever charge anything again.
Get rid of your credit cards, you don't need them.
Anything you can do with a credit card you can do with a debit card provided you have the money in the bank.
You can never borrow your way out of debt.
Establish a savings - I was talking to a couple that was in their late 70s and they told me that they had never had $1000 in the bank - ever! That means that their entire lives had been spent living paycheck to paycheck.
If an emergency came up they just put it on a credit card and dealt with it later.
Well, now they should have been enjoying a nice retirement but instead they were both trying to figure out how to earn more income.
Having a savings will allow you to lose your dependence in credit cards when emergencies come up.
Start a budgeting system - This has to be something that you and your spouse agree on if you are married.
My wife and I use a zero based budgeting system where at the beginning of each month we put together a plan for how we will spend/save all of the money that is going to come in during that month.
Basically we spend all of it on paper before we really spend it.
This helps us track and control all of our spending and saving.
If you start with these four things you will be well on your way to eliminating your problems with money and achieving a true life balance.
Obviously, we all need money in order to live our lives but when finances are not handled well, problems with money can grow out of control.
If you are going to achieve life balance, you MUST get control of your finances.
People mis-quote the Bible and state "Money is the root of all evil.
" That is an incorrect statement.
The Bible teaches us that "...
the love of money of a root of all kinds of evil.
" (1 Tim 6:10) It is this love of money which generally gets people into to trouble with their finances.
By focusing on all of the things money can buy (happiness not being one of them) people spend more than they make, borrow more than they can pay and simply focus on how they can get more money.
If you want to achieve true life balance, you have to get over your problems with money.
Check out these first steps and getting past your problems with money.
Admit it - This is the first step with any kind of problem, right? You have to admit that there is a problem.
If you run out of money each month, you have a problem.
If you have consumer debt hanging around on credit cards, you have a problem.
Don't be fooled into thinking that you are in such bad shape just because everyone you know is in worse shape.
Admit you have problems with money and get started fixing what needs fixed.
No more debt - The amount of debt that that is carried on credit cards is astounding.
To begin making a change, do not ever charge anything again.
Get rid of your credit cards, you don't need them.
Anything you can do with a credit card you can do with a debit card provided you have the money in the bank.
You can never borrow your way out of debt.
Establish a savings - I was talking to a couple that was in their late 70s and they told me that they had never had $1000 in the bank - ever! That means that their entire lives had been spent living paycheck to paycheck.
If an emergency came up they just put it on a credit card and dealt with it later.
Well, now they should have been enjoying a nice retirement but instead they were both trying to figure out how to earn more income.
Having a savings will allow you to lose your dependence in credit cards when emergencies come up.
Start a budgeting system - This has to be something that you and your spouse agree on if you are married.
My wife and I use a zero based budgeting system where at the beginning of each month we put together a plan for how we will spend/save all of the money that is going to come in during that month.
Basically we spend all of it on paper before we really spend it.
This helps us track and control all of our spending and saving.
If you start with these four things you will be well on your way to eliminating your problems with money and achieving a true life balance.