It is no surprise that the government, here in the US, is struggling financially. The reasons for the debt increasing are many and pointing the finger at a person or party won’t really get us anywhere. Hopefully, the government can come together and start resolving the financial crisis. Until then, the financial reform you and I should be looking at is within our own homes.
The financial status of you and I is in our hands and blaiming the current economic situation on others will not get us back to where we want to be. Unfortunately, the person in the mirror is the one we should analyze the most. Do I spend thriftly? Do I save anything? Are the things I purchase owning me or do I own them? Do I really need all of this stuff? These are simple questions that we should be asking ourselves all the time and not just in a down economy. However, our own extravagance has led to much of the personal financial crisis in this country. We can control that much so we might as well manage it properly.
There are many of you who have saved properly and set yourself up to be financially stable within any economy. I applaud you for such. However, there are many of others trying to stay above water and make it in this tough world. Our actions have led to our situations and we can only move forward instead of looking back now. This is a major point that many need to understand. You could sit and dwell upon the things that have led to a poor standing financially and learning from those mistakes is a good thing. But, the key is looking forward and budgeting for the life you want and not the one everyone wants. Let me explain…
What do you want?
Do you want the financial freedom of your neighbor or the security to quit a job you hate? Or do you actually want 4 big screen TV’s, cable, a brand new leased car, every overly priced Apple product known to man, and 2 nights out a week racking up a huge bar tab? I think most people would say they want the first, but then live the life of the second. Our actions are what predict our futures and the action of spending now on things that have little if any return on your life financially and personally will come back to haunt you. Just look where many people are at today.
I could sit here and ramble on about spending your money properly. But the only thing that will help is if you take it into your own hands. For me, I have set myself to have little if any debt at all times so I don’t have to worry of the collections boys hitting me up. For you, you will have to figure out the reason you want to be financially free and what step(s) you are going to take towards improving upon your current situation.
- Start a Mint account: Open a FREE Mint account that will help you manage your money. I use it and it keeps me on track. When I don’t check it (like recently), my finances struggle.Click here to get a Mint account.
- Start reading more personal finance blogs: The more I follow and read about money, the more likely I am to stay on track. Here are my favorites…BudgetsareSexy…ManvsDebt…EnemyofDebt
- Whiteboard Budget: Go to Costco or your local office supply store and by a huge white board. Then put it up where you will see it daily. Lastly, track your budget and update daily. If you keep at it, you will scold yourself for missteps and be glad when you succeed daily.
- Question Everything!!!: If you are spending money on anything, you need to start questioning each and every penny output. “Do I really need this?”….”No..no…no….Do I REALLY need this?” Once you start doing this daily, you will see immediate financial results.
Hope these help you get back on track financially in whatever economy you are reading this in.