3 Reasons Why You MUST Manage Your Money

"Are you tired of not having enough money or any savings at the end of each month?

Are you sick of having your monthly paycheck "disappearing" as soon as you get it?

Are you tired of spending beyond your means?

Are you sick of getting slapped by huge credit card bills which you can't afford to pay?"

Then, perhaps it's time to be your own "Accountant" and start managing your money!

Why is it so important for you to manage your money? Well, here's 3 reasons why: -

1. Create awareness

"If you don't know the root of the problem, how do you even begin to fix it?"

Managing your money creates awareness of your finances, helps you see where your money goes, how it is spent and identifies any spending issues that you may have. For example, if you are aware that you are spending too much on luxury goods or impulse shopping, which leads to HUGE credit card bills, then it's time to cut down expenses in that area.

2. Take control of your finances

"Now that you know what the problem is, it's time to fix it"

Once you know which areas you need to cut down your expenses on, then it's time to focus on that and start to change spending habits. Create a monthly budget and track your actual expenses against that budget. If your actual spending gets too close to your budget, that's where you have to "pinch" yourself and control yourself from overspending.

3. Your first step to financial freedom

"If you fix it well, it becomes a habit, and that's the first step to financial freedom"


Once your spending patterns have improved, then you will automatically develop a habit of saving or not overspending. You will learn to allocate your income to the right places (for example investments) and move them away from the wrong places (impulse buys or luxury goods). This also creates discipline in your spending which will contribute to your financial freedom.