Personal Financial Management.


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CHAPTER 10: “SIMPLY FANTASTIC: LIVING BETTER ON LESS”

“The safest way to double your money is to fold it
over and put it in your pocket.” —Kin Hubbard.

There are many ways to save on a personal level. You
need to remember your goal at this stage is to simplify
your life, get out of debt, and live less stressfully.

The suggestions below may not make your life less stressful
immediately. Eventually when you get the results from
this extra effort, peace of mind will be accomplished.

The most important thing you must understand about
personal financial management is this: SPEND LESS
THAN YOU EARN! It sounds simple, but simple is not always easy.

Spending Habits

“Never spend your money before you have it.”
—Thomas Jefferson

If you want to live Simply Fantastic: Living Better on Less,
then you have to start seriously examining how you are spending your money.

The following simple exercise will help you to focus on your true objective.
From now on each time you want to spend money ask these questions first.

If You’re Broke

1. Do I need it?

2. Can I afford it?

3. Have I checked if it’s cheaper anywhere else?

If You’re Not Broke, But Need To Budget

1. Will I use it?

2. Is it worth it?

3. Have I checked if it’s cheaper anywhere else?

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