Knowing how to manage your money is an important skill. Managing your money is not the whole picture. To have a complete description and confidence in your financial future, you need both to manage and master your finances. Mastering your money takes planning ahead of your income and setting goals, so you are plotting a course before the money arrives. Managing is directing and controlling the resource you already have.
Managing Your Money Matters
Managing is defined as to oversee or have supervisory control. When you start a money management routine or system, you start with what you have, the balance in your accounts. Then you plan the direction those dollars will go. A budget is a standard management tool. It can be a simple paper list or an Excel spreadsheet of expenses in order of due dates. Anything that allows you to track where your money needs to go by priority level. Budgeting is an ongoing routine you will need to monitor and execute. There are many online budgeting apps to help you start managing your money. Make sure the app can do everything you need it to before you download. Some apps require you to connect your bank accounts and credit cards so if you are not interested in that find an offline program.
Mastery-Proactivity in Action
The other part of financial fitness is learning to be proactive and plan. This process involves setting goals for you and your future. Goals can include building up a savings account or starting a college education fund. You can plan for home improvement and beautification projects. Anticipating any increase or windfall in your income will help to make every dollar count. No longer will you wonder where your money went; you will have confidence that you are the expert in your financial future. No one out there will work harder to fight for your future than you, so think about how you want your life to run and plan accordingly.
Putting It All Together
So financial fitness is not only the routine maintenance of managing the income and expenses. It is also taking the lead in your life, setting out those goals and projects that you want to accomplish and making plans to achieve them. Asking someone you trust and respect to look over what you have put together can be a great resource to make sure you have all the components to your plan.
Take an hour this week and do a budget checkup on yourself.
About the Author
Jamie Jamieson
Professional Association National Association of Realtors (NAR) New York State Association of Realtors (NYSAR) Hudson Gateway Association of Realtors/ Hudson Gateway Multiple Listing Service Education I hold an A.A in Italian Studies and an A.S in Accounting as well as being one of few students accepted into the Cambridge University International Student Study Program abroad as a returning student in 2011. Community Involvement I am proud to serve on the Home & School Board for St. Augustine School in Ossining and maintain the role of a Girl Scout leader. I am an active member of the community assisting in a variety of fundraising efforts. Personal I am a young and energetic agent who prides myself on providing personalized service with honest representation whether you are buying or selling your home. My expertise of the river towns, attention to detail and excitement for real estate are a few of the many assets I will bring to you. I will utilize my eagerness and market knowledge of the area to build lasting relationships with all of my clients that will extend far beyond the closing table. Be at ease from start to finish with my help. In my spare time, I love exploring the Hudson Valley with my husband, three children and our dog, Pippin. I love scoping out the infinite restaurants, farmers markets and other fabulous activities this exciting county has to offer. Experience Before joining William Raveis Legends Realty Group I started my career with Hudson Homes Sotheby's International Realty team. Prior to real estate, I had a remarkable 15+ year career in Restaurant Management/Hospitality including Ruth's Chris Steakhouse, Rivermarket and several establishments in Newport, Rhode Island. My experience in that field provided me with the foundation of excellence in customer service. Areas Covered All of Westchester County and parts of Putnam County.