In this day and age, we are always being advertised or pushed to buy something that we don’t need. These five steps on how to manage your money are about getting value and taking care of your finances. Many of us know the price of everything but the value of nothing? After doing some research we have curated a list in no particular order to help you sleep better knowing your finances will be in order.

1. Ignore the self-gratification

Have you ever seen something you wanted so bad but didn’t have the money to buy just yet? What did you do? Buy it with credit? Sucks to be you! Buying things with credit makes you become in debt to someone else. I’ve always been told to be an interest collector, not an interest giver. It is a known statistic that the average American home cannot handle an unexpected expense over 400$. If you deny yourself the things you want for now and saving up to purchase with cash this will never be something to worry about.

2. Pay down our debt before saving!

Save your money for a rainy day. By now, I’m sure we all have heard of something similar to this. The truth is before we can save fruitfully, we need to pay down some debt so we can enjoy our hard work. Money is a tool for empowering you, the last thing you want to do is constantly have someone in your pocket when it’s time for payday.

3. Don’t listen to everyone!

Nobody can tell you what to do with your money. It’s yours! You will always have your best interest, especially when it comes to your money. If you want to listen to some sound advice follow people who have the results you want and pay attention. You can also find yourself a mentor that will guide you to financial freedom.

“Be careful who you listen to, they might be broke.”

– Chris Brady

4. Get out of consumer debt.

One thing you will notice is that we often don’t invest in ourselves how we should. As a society, we should often put money away or use the money towards our education or something that will give us a benefit over time. Netflix is not investing in yourself, sorry. Use your time wisely guys, always look to become a producer of things instead of consuming them.

5. Trust the process, stick with your investment plan.

One of the common items that have been a problem in many communities is that we don’t realize it takes time to get rich/wealthy. As you can see it takes nothing to go broke but everything to get rich. Patience will be your biggest test on this journey. Believe in yourself and trust the process. Always look at life like the turtle/rabbit race. Slow and steady will always win.

I hope this has been informative, leave a comment and share with a friend who needs help getting their finances in order.