Mo’ Money, Mo’ Problems!!

Written by Ash’Cash on August 24, 2010

The Notorious B.I.G. once said “Mo’ money, mo’ problems” and for most of us we wouldn’t mind having more money no matter what problems come with it! Some of us can’t even grasp this concept because in our mind we think the opposite; that money can solve anything! We need to realize that money has never been and never will be the solution. Caution to those who want more money and are not mentally ready for the responsibility that comes with it! This is the exact reason why you see millionaires go bankrupt and lottery winners losing it all within years! The more money you have, the greater the probability of you creating a financial disaster, if you are not properly trained to maintain your finances.

People who make more money and have no financial discipline are more prone to loosing it all because they have more at stake. They make more money; they buy bigger houses, buy more expensive cars, create more expenses and now need to be able to sustain that lifestyle.

The answer is to Budget your expenses! Whether you have a lot of money, a lil money or no money at all, learning how to budget your expenses will alleviate ever having to worry about how you are going to maintain the necessities. Budgeting your expenses is about creating a road map for your life. It’s about planning and strategizing and knowing how you are going to get to your financial destination. It’s about not relying on chance, hope or fate to guide you through your finances. Those who fail to plan, plan to fail, so you must create a budget that you can adhere to and follow religiously. Your budget must be listed first in the order of necessity, then want. After you complete your budget, if you notice that you are paying out more money than you actually receive, you must begin to remove some of the things on your list beginning with the want column. Your budget also must include money for savings and for entertainment. Savings and Entertainment are vital components of a budget that will help keep your sanity! Work Hard! Play Hard! But do it within reason. Visit http://www.ashcashmgmt.com/budget.xls for a free budget sheet to get you started.

Ash’Cash is a Business Consultant, Motivational Speaker, Financial
Expert and the author of Mind Right,
Money Right: 10 Laws of Financial Freedom. For more information visit www.IamAshCash.com