Rule no. 6: Don’t spend more than you make
I think this rule is very simple. I don’t think I need to explain this rule. Isn’t it self explanatory? If you spend more than your income you will be in trouble. Honestly most of us don’t really know how much we are spending and how much we are earning. The relationship between spending and earning is not very complex but the understanding that we have is not very clear.
Most of the time when people budget they don’t take care of minute things as buying a juice. It might look very negligible but on a long run it accounts for decent money. in most of the cases when people budget they don’t realize where their money goes at least 20 – 30 % of the money goes in petty things. If you are vigilant enough then these things can be captured in the budget and it will help you to reach the goals in a easier way. it does take time but it will be in the right direction.
A budget doesn’t happen by accident; it takes practice and is an ever-changing tool in our financial planning. Practice makes perfect. Although “perfect” is never the ideal word for a budget, it does have more meaning and usefulness the longer we practice its use.
Rule no. 7: Be happy with what you have
This is the best rule. Be happy with what you have. Don’t be let down by the current financial status. Today you might not be where you want to be, but if you fret about it then it is of no use to anybody. Instead of using your energy to negative feelings use it for positive feelings. Accepting your situation for the time being and then planning to reach somewhere above your current financial status is a good sign. Be happy with what you have currently and aspire for better things in life.
It might sound ridiculous but it is one of the best things in life. If you accept your situation and then move forward I am sure it will lead to unbelievable financial success.
Hope this is of some help to you.