A sensible man watches for problems ahead and prepares to meet them. The simpleton never looks, and suffers the consequences. (Proverbs 27:12)
Have you ever been in a situation where despite all the hard work you’re doing you still end up thinking how to make ends meet?
Have you ever tried spending and living in T.H.A.N.K.S.?
These life principles aren’t new at all as lots of life coaches or motivational speakers might have talked about these.
These are proven principles, a great guide to attaining liberation from financial hardship.
Spend and make the best out of life through the following tips:
T – Take time to appreciate your earning
H – Have a personal budget
A – Arrange your spending priorities
N – Never spend more than you earn
K – Keep track of your expenses
S – Select a simple lifestyle
Take time to appreciate your earning
You might perceive this as insignificant but taking time to appreciate your earning gives you the chance to reflect on the effort and sweat that you exerted to gain it.
After getting your money, hold it firmly, let it stay in your hands and thank God, the Divine Providence who makes it possible for you to earn your keep.
Realizing the hardship that you went through to earn your wage, you will soon resolve to make every cent matter.
Of course, don’t forget to give God’s part and your offering.
Have a personal budget
Contrary to somebody’s opinion that you only make a budget when you are receiving big amount, having a personal budget is very crucial when you are receiving a small amount.
A personal budget would surely safeguard your spending because you have determined your priority expenses.
You must set aside an amount for your savings no matter how much you’ve earned.
Arrange your spending schedule
Rank your list of expenses according to priority. Always have payment in mind when making credit purchases.
You will soon see that you are eliminating all your debts one by one. Update your spending schedule as soon as there are changes in your expenditures.
Never spend more than you earn
There is no other phrase to describe this than stating it this way, “spend less than you earn” or “live below your means”.
If you are satisfied with just “spending within your means”, you can never get out of the debt trap.
You need to gain extra leverage to stay on top of your spending.
This might entail spending for your basic food only and postpone buying “clothing” and “shelter” items.
In trying to increase your income differential, you may opt to prepare your own food and avoid eating outside at fast foods and restaurants.
You can cut your bills by cutting off your monthly cable TV subscription and budget for entertainment; carry out strictly your water and energy-saving practices.
Keep track of your expenses
Go through the intricacy of listing your expenses so that you will know when you are already on the red.
Before spending your money, always check whether the item is in your priority list.
Limit your going to the mall and grocery store to just buying your needed household needs and if possible, always hunt for bargain or goods on sale.
Select a simple lifestyle
Living a simple lifestyle is a choice that will allow you to make a debt-free and financially independent life.
Do not “keep up with the Joneses” as the expression goes so that financial tragedy will not befall you.
Instead of going on a buying spree, always live by the principle of “saving for the rainy day” so that you will have funds to spend when the “storm” comes.
In this period of financial crisis and scarcity of resources, the person who takes time to learn how to spend his or her income will definitely have an edge.
Spending and living in T.H.A.N.K.S. is one big step that you may take towards a better financial position.
NOTE: This is a repost of a similar blog post I wrote at From Worry To Glory.