After graduating in College, you finally become financially independent from your parents or your finance supporters. You cannot go on asking for allowances anymore for your expenses because it is already clear that they are expecting you to start looking for a job. You have to earn your own money to buy what you need and what you want.
When you start earning your own money, it is hard to decide whether you save it first or buy the thing that you’ve been wanting to buy for a long time. It takes self-discipline and determination to achieve control over your expenses especially now that you own the decision to your finances. Whether you earn big or not, you will always have to remember that 2 things can happen in managing finances. It’s either you “Control your finances or let your finances control you”. Which do you think is the most sensible thing to do?
Controlling your finances helps you in saving money for future use. The future happenings are always uncertain and there is no harm in preparing early for it. When everybody else around you is wasting their money on useless things, you cannot be like them. Yes, you can go with the fad but the fundamental rule is: “Buy only what you need”. If you own a cellphone and there’s a new model in the market that you really like and it has the features that you can use on important activities, then you can sell your old cellphone and buy the new one. Do not be like others who have several cellphones and they end up using only one among the many. A lot of temptations are inviting your to spend your money on them and the choice will always have to be yours. Don’t let the pressure around you take control of you. If your friends, officemates and family members are spending their money happily like one day millionaires, you know that they are letting there finances take control of them.
How will you know that it is already your finances that are controlling you? Simple, you are being buried with debts and debt collectors are after you everyday; you do not have any savings account in the bank, you’re not anymore getting your paychecks because they automatically go to your credit card companies to pay your bills and you are already borrowing money from you family. In the end, you end up with nothing and you still have lots to pay for.
Now, do you see the effects and the importance of taking control of your money?