2010.
New year, new decade… I’ve decided that one of the areas of my life I’d like to put more energy into is my financial health.
The first step in my plan is to pay with cash ONLY! I know I’m not the only one tired of seeing overdraft fees appear unexpectedly like a bad rash. By paying with cash, it forces you to manage your money more closely and doesn’t give the banks a reason to ping you a large amount over small accounting mistakes.
The next thing is to adjust my outlook on how I spend money. Having a small business has made me realize I need to also approach my personal life like I would a small business.
income = revenue
spending = expenses
savings = profit
monthly bills (rent, phone, gas, insurance) = overhead
If you can begin managing your money like a small business, you might think twice about how and where you spend your money, and time.
There’s a lot more work involved in getting to a level of financial fitness that I feel good about, but having the intention, purpose, and setting goals, is exactly what needs to happen first.
First of the year, the decade, the beginning of financial success…!
(SF, Union Square)
UPDATE, 1/3/09 – I just came across this article from the LA Times, “Money Resolutions to make in 2010″, that has some very helpful advice about the topic of financial health. Read it when you get a chance, it may save you $100 this year.
LINK: http://www.latimes.com/business/la-fi-cover3-2010jan03,0,7066429,full.story
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