- If you received a gift of $2000, what would you do with it? Would
you pay off your credit card balance, purchase something you've always
wanted, or invest it?
- Do you regularly keep your expenses less than your income?
- Is there enough money for you to purchase food at the end of the
month?
- If your refrigerator broke down today, would you have the money to
fix it?
- Could your child participate in the school-sponsored mainland trip
next year?
- Your child is now in high school, is there enough money for college?
Basic to money management is prioritizing choices and making informed decisions. You will need some knowledge and skills in clarifying values, setting financial goals, developing a spending plan, following through step by step, and analyzing your actions. It is not difficult, it just takes time and discipline.
Practice by working on one short-term goal (one month to one year duration) that is a priority for you and is likely to be achieved in the time frame allotted. Make your goal simple, easy, manageable, and realistic. Successful achievement of the selected goal can provide you the inspiration and tools to apply on bigger challenges in the future.
Click on these links to articles and worksheets to get your thoughts
and finances organized:
