Managing Finances
With the average American credit card balance at $11,000, there’s no time like the present to start managing our finances. Controlling personal cash flow can be difficult. For most people, the number one problem with money management is they just want more, the higher the amount, the better to support the “buy, buy, buy” culture. The other reason controlling finances can be complicated is due to the wealth of financial information available. Knowing where to start can seem overwhelming.
What is Money Management?
The term “budgeting” is sometimes used synonymously with money management. Budgeting is simply a means to visualize how much money is coming in, going out, and how it’ll be used in the future. After all your bills are paid, any surplus is “money in your pocket.” Extending yourself beyond your means enters you into a liability, or debt.
Financial Management Tips
If your desire is to control your money, instead of the other way around, there are small but significant money principles you can implement now. Here are a few strategies to help you manage your money:
If you’re not in a good financial place right now, it won’t help feeling guilty over the money mistakes you’ve made in the past. Focus on the present and how you can make these simple, small changes to your everyday life. Wise money management will positively impact you and your family’s life and future.
Sources:
http://www.patreasury.gov/assets/pdf/Tips-PersonalFinance.pdf
Amplified Life Counseling & Coaching and its principals have been providing clinical counseling, coaching and consulting to individuals, families and organizations throughout West Michigan and beyond for over 25 years. Our team of licensed mental health therapists stand ready to serve you. Please feel free to contact us at any time as needed by calling or emailing our Care Team at 616-499-4711 | care@amplife.us.
Historic Counseling Center
7791 Byron Center Ave SW
Byron Center, MI 49315
616-499-4711
South Counseling Center
2465 Byron Station Dr SW
Byron Center, MI 49315
616-499-4711
Lyle Labardee
Author