For the past three years, we’ve all experienced tremendous challenges facing the reality of inflation. And I believe that it did not excuse us to pursue our plans in life. Others may have faced it with so much joy, hope and courage, while others took it the other way around.
There are so many ways on how we can manage our money and enjoy life without splurging on things that eventually lead us to frustration or regret. As a wife and a mom of one child plus three fur babies, my spending priorities obviously focuses on them. By practicing these three things, I get enjoy life to the fullest.
Firstly, identify your needs versus your wants. Needs are things that is considered to be necessary and really important, while I define wants as something that I really like but I know I can still live without. Have you bought something from SALE racks? We're you able to use it? I guess you don't want your living room to end like a storage corner.
My example of my needs, healthy food, clean house, in good condition car and more, which is a top priority. Now, my wants are like fancy dining, dream big house, luxury car, revenge travel and more. I just love the verse in the Bible from Hebrew 13:5, reminding me to be content on what I have, because GOD will provide for all my needs.
Secondly, the next step to take is the budgeting part. I know, when we hear the word budgeting, it sounds pain to our ears. Like, how will I budget this amount of money for 15 days or for a month? Where will I get the budget? Questions like that can trigger anxiety. It's not an easy task to budget money. But using 10/20/70 plan may help you jumpstart your budget planning. 10% for tithes if you have a commitment to give to church, 20% for savings where you set aside for whatever purpose you have. While the 70% for your expenses.
Thirdly, find tools to help you manage your finances. I happened to stumble across a site where they offer financial calculator (loans, savings, retirement, budgeting, education, mortgages, etc.). To be honest, since I’m not good in Math, and no patience computing, this kind of tools is heaven sent. I’m aware that it is essential to use proper guide to setting our goals, specifically, to our financial planning. I am now using Calculator.me , and this saves my time and even my sanity. And of course, I use for FREE!
When you are experiencing financial freedom, it leads you to living your life to the fullest. You get to enjoy what you have and what you don't have. It's about a matter of setting your goals and priorities in life, and seeing it happen one day at a time. Start managing your money, do not let your money manage you.