Money is a critical resource. How we manage our finances will have a significant impact on the quality of our life and our ability to meet life’s opportunities. In managing money, it is important to plan, prioritize, and organize finances effectively. Have a definite purpose in place for your life and make sure that your money is helping you to achieve it!
Some important things to keep in mind when managing money are:
1. Keep a budget
2. Keep track of expenses
3. Put money in savings
4. Be careful with credit
5. Paydown (or off) debt
Effectively using money gives one greater freedom. More choices are available to those who are not living in debt, which reduces fear of poverty and gives one more emotional balance. With more available cash, one can use their money to generate wealth through investments, give to church or charitable organizations, and begin to make the dreams that were just something hoped for at some distant time a reality quickly.
Please check the website for an upcoming training on effectively managing money through IBO University.