Did you budget out your money last year? If the answer is “No”, then there’s no better time to start than NOW. If you aren’t familiar with my 11 Principles for becoming financially fit, then I suggest that you check it out. I wrote a post about each individual principle. Take the challenge, and make it your goal to follow these principles for 2008. Free Money Finance wrote a post about improving your finances as the most popular New Year’s resolution this year. It even beat out losing weight. It’s funny that retailers always try to capitalize on helping people lose weight, but they rarely boast products to help others improve their finances.
The First Principle: Always Spend Less Than You Make
It’s the most simple concept in personal finance, but it’s one of the least practiced financial principle in America. We live in a society where buying now, and paying later is a way of life. It’s second nature to finance EVERYTHING. We’ll finance everything from a television to a tank of gas. But, the first step to becoming wealthy is controlling your spending, and having money left over EVERY month, not just some months.
Are you looking for good financial tracking software?
I suggest checking into Mvelopes.com, I have been close to using it myself, and I think this year will be the year that I pay for their services. I am currently using their free trial, and it’s definitely unlike any other software. The reason I like it better than Quicken and Microsoft Money is because it’s all online. You can be anywhere in the world, and access or update your budget.
So, are you ready to give yourself a raise in 2008? Plan out your budget, and you’ll instantly feel like you have more money when you start making your money behave the way you want it to.