• Healthy Living like Personal Finance

    Admittedly I've been a little frustrated lately. I've been working on building up my health and am fighting with a few issues that I'd like to cure naturally.

    The frustrating part comes in when I've scoured the internet and read countless websites and books, and they're all giving me different solutions for the same problem. To clarify, they're all giving me fundamentally different solutions for the same problem.

    However, I've stuck with it, and am committed spending as much time as I need to on the subject. I am committed to doing what it takes to get this problem fixed.

    REBUILDING FINANCIAL HEALTH TAKES TIME AS WELL
    Sometimes I lose track of where people are starting from when they visit this site. They get into rough financial shape and desperately want to get back into financial health.

    I will offer the same advice for those people. If it took you a few years to get into financial trouble, it will probably take you quite some time to rebuild your financial health.

      Here's where the time factor comes in:
    • Learning about your personal finances
    • Learning about where you spend your money
    • Paying down debt
    • Saving up cash reserves
    • Disciplining yourself to properly spend your money
    • Learning about your credit agreements
    • Figuring out ways to grow your money

    You can't expect to fix yourself financially in two weeks or a month. It's going to take time.

      My recommendation is to start your personal finance journey by doing the following:
    1. Taking stock of your spending and saving habits.
    2. Write down EVERYTHING that you're spending money on.
    3. Document all of your debts and how much interest you pay in total every month.
    4. Find all of your contracts that you signed to enter into ALL of your payment agreements. Including cell phones, rent, credit cards, mortgages etc. READ THEM!
    5. Study ways to get the most out of your savings.. IE which banks / mutual funds have the best interest rates.

    CONCENTRATE YOUR TIME AND EFFORT ON YOUR PERSONAL FINANCES
    If you're starting from the beginning, it's important to commit to the time required to do this. If you're not willing to commit, you're not going to make progress.

    Getting back to my health analogy.
    I have found the same thing with weight loss. I have slowly been working on weight loss over the last 6-8 months. I've made some good advancements as far as learning about and implementing new diets. I have lost a few pounds.

    I have decided to get committed to losing weight now. That's all I'm going to focus on for the next 4 months is getting underway losing weight. I'm confident that after four months I will have lost a considerable amount of weight and will have changed my eating habits.

    Good luck and stay committed!!


 
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3 Comments
On Apr 27, 2008, Monty Loree Said:
As time is passing I am able to re-align my time priorites both health and work wise. It's taking awhile, but it's frustrating while I'm doing it.

Thanks for your comments.
On Apr 4, 2008, Sdumae Said:
Money Advice,your comment was very much relevant and Monty was sharp in bringing out points.
On Apr 2, 2008, Money Advice Said:
There is no substitute to sound health and looking at the way this world is progressing,proper planning is required to save some money for our health and for our well-being.There is only one issue that is cropping up every now and then and that is nothing but unnecessary spending.
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