I have set forth some very lofty goals in my financial life. Though I have always worked hard and continue to progress as the years go by, I am nowhere near where I want to be and this fact used to keep me from proper money management as I was constantly looking down the road instead of looking at what I already had.
More Money Still Needs to be Managed
It used to be that I would think about money management all the time. I would think of how I would invest the money I would make down the road and do all kinds of research and analyses. However, what I always seemed to fail to do was actually manage any of the money that I was making. I just kept looking down the road to my future earnings, but even when I made more I wasn’t managing any of it.
Phrase that Changed My Money Management Tune
Several years ago I read a book by an author named T. Harv Eker. In this book he spoke about my very money management dilemma. Until I read his book I actually had no idea that I was sabotaging my financial well being by having this kind of attitude. It really sunk in when he said in a roundabout way, “Waiting to manage your money until you are rich is like waiting to lose 30 pounds before you start dieting and exercising.” Right after reading that phrase in the book I instantly realized my flaw and understood that I had to do something about it.
Formulating an Actual Plan
Almost immediately I sat down and created my first monetary budget and to this very day I still adhere to a budget. In that first budget I figured out what I could afford to put away into a retirement account at that very moment. I have to admit, it wasn’t much. In fact, it was only about $25 per month. But, I knew that I had to start somewhere and start with what I had.
Action Leads to More Action
Because of that action that I took several years ago I have now learned to simply manage what I have. That $25 of savings each month has grown quite a bit and my wife also adheres to the same principles that I do. So, while we may not be the richest people in America, we are practicing money management with what we have now versus what we will have later. I can always happily deal with extra money as it comes in.