2. Create a budget. There’s a moment from my college days that I distinctly remember. It was just a few months after I was completely on my own for the first time. I was going through a stack of bills I needed to pay, and suddenly felt overwhelmed. I made just enough with my job as a waiter to cover my expenses. It felt like I would never get ahead financially with the way things were going.
Whenever I get down like that for any reason, instead of wallowing, I like to take some kind of action. So I busted out some paper and scribbled a rough budget for myself. By being able to see the bird’s-eye view of my financial life, I had more of a sense of control over my finances. I could see I was spending money on stuff that I didn’t need, like cable, and I realized that I could probably cut back on food expenses by making meals at home. I started feeling more hopeful about my situation after finishing my budget.
After that experience, I kept up the practice of maintaining a budget and it has served me well. It allows you to make informed, purposeful decisions as to how to allocate your money in the best possible way to reach your goals.
If you haven’t already, make it a goal this week to set aside an hour and create a budget for yourself.
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