How To Handle Money Not To Live Paycheck To Paycheck


How To Handle MoneyThis post on how to handle money is for those who have ever seen or hold money in their arms. Read it and check whether you can attract, keep and multiply money.

Why do we want to work? We want to work to earn money, don’t we? And is the size of the salary important? And how to handle money to have it enough for everything and to have something left?

There is no money handling culture in our modern society. School does not teach it. Also not all parents explain to the children how to deal with finances, because very often they also can not handle money in the right way.

That is why our professional resume writers online raise the issue: to make money come into your life, you have to develop in yourself correct attitude towards it, and also follow some rules for the money attraction. These rules are the following.

Do not get into debts

There are so many temptations in our life. Each time think it over for 7 times at least before deciding to take another credit. The right answer is “Do not to take!”. Do not buy something you can not afford. For this purpose you need to develop in yourself certain skills of control and restraint. When you put your personal finances under control, you will get a very pleasant bonus – you will be able to make purchases without credits. At the expense of your own money. Pretty good stimulus, isn’t it?

Save money

Saving money is a compromise. You take something from your pocket today to make better your tomorrow. You need to learn to “pay yourself”. It means you should save some amount of your monthly income and fix it in personal “stabilization funds” or with the help of useful habits:

1. Private pension fund. Long-term deposit with interest capitalization. Here you allocate 5-7& of your monthly income. In the future you will be very grateful to yourself, who 20 years ago decided to save money for a comfortable old age.

2. Personal insurance fund. This is your fund to cover various unexpected expenses. Here you allocate 10-15% of your monthly income.

3. A “greatness wallet” or “money box” habit. Use principle is following:

  • each time when you need to pay someone, take 10% of the sum you need to pay;
  • put this 10% into the “greatness wallet”.

For example, you need to pay 400 conventional units of money. It means that in your main wallet there should be 440, from which firstly you take 40 and put this sum into your “greatness wallet”, saying: “I am rich! I am powerful! I can do everything!”. It is extremely important to support and praise yourself. You should like your own habits.

But what to do if you have only 400 conventional units of money? There are several ways out: save 40 and make a purchase on 360, if it is possible, or dot not buy anything at all.

Create additional sources of income

Another important rule of money is to create assets. Assets in this understanding are the sources of permanent passive income. The more such sources you will have the bigger cash flow they will form.

The most common assets options: shares, bonds, real estate, patents, copyrights, intellectual property, websites and blogs (not necessarily popular), promoted publics on the social networks.

Count your money

Money likes being counted. You have to learn to count you personal and family incomes and expenses. If you want to take under control your finances and to create conditions for constant well-being increase, you will have to do it.

Wages (and in general incomes) are less controlled value than our costs. You should count your income and expenses every day. Analyze and optimize the items of expenditure. You can keep such books in MS Excel. Also there are many programs and mobile applications for the automation of this process. As a result, after the optimization you need to start making budget and follow it strictly.

The most important and only rule is to spend money wisely. Resist the insidious temptations to buy something useless, fight with laziness and do not miss profitable proposals. Having such an approach you will not have to search for money in your old clothes. Although it is always pleasant to find money in the most unexpected places!

Remove all negative financial settings

There can be installed a big number of wrong negative settings connected with money in your head, and also there can be habits that program on poverty. They can be caused by upbringing, your character features, negative past experience and so on.

Your goal is to replace them consciously with the positive settings. Te things are simple: to make money like you, you should like it as well. This is another money rule!

Do not skimp on insurance

Anything may happen in our life: a house may burn down, accidents may happen and so on. Do not play for time and insure yourself against major risks.

Give a portion of your money to charity

The more you give, the more you get. This law of the universe really works! It would be perfect to give for this purpose 10% of your income. But you may begin with 1%. You should learn to give money voluntarily and with a light heart.

Invest in you development and education

Also invest in your financial education. Really, everyone can learn to handle the cash flows and make right investment of the funds. And the sooner you begin, the faster you will get positive result.

Treat money as a tool, not as a main goal

A characteristic feature of many real millionaires is the absence of the cult of money. They just move to their goal, and money for them is just a pleasant bonus on their way. Love what you do, do not stop developing yourself in the professional field, and wealth will come to you sooner or later. It is hard to argue with that.

Growing rich is an intuitive desire of every person. Feel this desire as soon as possible and act.  For being financially competent our resume service advises you to read the Bodo Schäfer’s book

“The Money or the ABC of money”. This book is useful and understandable for both, children and adults. And also read the classic books, such as “Rich Dad, Poor Dad” by Robert Kiyosaki, if you have not read it yet. We hope that this do not to live paycheck to paycheck post was useful for you. Our online resume writer service wishes you luck in making money and its proper handling!