20 Apr Planning your Budget
Let me ask all of you a question. When was the last time you did a personal budget? You mean, calculating how much money that comes in (ie. paycheck, or trading profits) and expenses that come out every month? Yeah..! Have you ever thought about how much you have left every month when you pay off all your bills and your rent/mortgage? Some of you are probably saying there’s nothing left. You’re thinking that there’s no need for a budget when you can just focus on making more money and everything will take care of itself. Well… the reality is that a lot of people have built their vast wealth over time not based on how much they make but rather how much they spend. Now I am not telling you to become a penny pincher and not enjoy life. What I’m saying is set aside a monthly amount that you want to allocate towards building wealth such as putting more money into your trading account. Over the long run, you’ll thank me for it.
btw, if you got anything left over, you can take me out for a beer.