Seventy Percent Of All Our Worries
Get the facts down on paper
So you need to get a notebook and start keeping written records for the rest of our lives? No, not necessarily. An expert on budgets recommends that we keep an accurate account of every nickel we spend for at least the first month, if possible, for three months. This is to give us an accurate record of where our money goes, so we can draw up a budget.
Get a tailor-made a budget that really fits your need!
The idea of a budget is not to wring all the joy out of life. The idea is to give us a sense of material security- which in many cases means emotional security and freedom from worry. But how do you go about it? First, as I said, you must list all expenses, then get advice.
Learn how to spend wisely
Learn how to get the best value for your money. All big corporations have professional buyers and purchasing agents who do nothing but get the very best buys for their firms. As the manager of your personal estate, why shouldn’t you do likewise?
Don’t increase your headaches with your incomes
We all want to get more out of life. But in the long run which is going to bring us more happiness, forcing ourselves to live within a tight budget, or having dunning letter in the mail and creditors pounding on the front door doesn’t seem to be something joy-giving. People purchase many things but are never satisfied, but actually become less happier than they were before – because they have bitten off too much with their increase in income.
Try to build credit, in the event you must borrow
Be sure your insurance policies have a savings aspect if you want to borrow on them, for this means a cash value. Certain types of insurance, called term insurance, are meant for your protection over a given period of time and not to do not build up reserves. These policies are obviously of no use to you for borrowing purpose. Therefore, the rule is, ask questions! Before you sign for a policy, find out if it has a cash value in case you have to raise money.
Protect yourself against illness, fire, and emergency expenses
Insurance is available for relatively small sums on all kinds of accidents, misfortunes, and conceivable emergencies. I am not suggesting that you cover yourself for everything from slipping in the bathtub to catching German measles – but I do suggest that you should protect yourself against the major misfortunes that you know could cost your money and therefore do cost you worry. Also its cheap at such price.
Teach your children a responsible attitude towards money
You should teach your children how to save money. Provide them with some small piggy banks to save their money. After every addition of money, they should make an entry on a notebook for that addition and total amount so that they can know about there money. When they purchase something then also make entry for that transaction and total amount left. This will also be fun for them and they easily save their money.
If you are a housewife, maybe you can make a little extra money off your kitchen stove
After you budget your expenses wisely, if you still find that you don’t have enough to make both ends meet, then you can do one of two things: you can either scold, fret, worry, and complain, or you can plan to make a little additional money on the side.
Don’t ever gamble
Its astounding to see people who hope to make money by betting on the ponies or playing slot machines. I know a man who makes his living by owning a string of these “one-armed bandits,” and he has nothing but contempt for the foolish people who are so naive to imagine that they can beat a machine that is already rigged against them.
If we can’t possibly improve our financial situation, let’s be good to ourselves and stop resenting what can’t be changed
If we can’t possibly improve our financial situation, maybe we can improve our mental attitude towards it. Let’s remember that other people have financial worries too. We may be worried because we can’t keep up with the Joneses, but the Joneses are probably worried because they can’t keep up with the Rites, and Rites are worried because they can’t keep up with the Vanderbilts. If we can’t have all we want, let’s not poison our days with worry and resentment, let’s be good to ourselves. According to Epictetus: “The essence of philosophy is that a man should so live that his happiness shall depend as little as possible on external things.”