If you’ve ever had a sudden financial windfall in your business, you’ve felt the excitement that a surprise paycheck can generate. Too often, though, that money is gone in a month or less. The key to avoiding that is to be in control of the money from the jump.
You need to get to know your spending patterns. Do you have money leaks? Do you have a tendency to overspend either at your business or at home? Do you have a tendency to give money away to make up for feeling guilty? Everybody has their own spending patterns and nobody is perfect with their money, but the faster you can get to the bottom of where yours is going, the better off you’ll be. Try tracking your daily income and your daily expenses. Set a minimum amount that your bank account cannot dip below. Start your better money habits now, and they’ll help your accounts grow. You also always need to be prepared for the unexpected to happen. Whether it’s a disaster at work or at home, you never know when you’ll have to shell out for something you didn’t see coming. That’s why the ritual of setting aside money is so important.
Read the full article here: Quick Fixes for Keeping More Money
