6. Keep the Family United
In a survey of 86,000 people, more than a third said
that money was the number one problem in their marriage. Another study found that money caused the most
fights. “Differing attitudes toward money can strain
relationships,” said financial consultant Grace
Weinstein.
Even a seemingly close-knit couple may have
widely different views of money and how it should be
spent. One may be a fanatical saver, the other a voracious spender.
If not talked out, money matters can snowball into
family fights. “There is a frustrating of plans where
there is no confidential talk,” says the Bible and while
discussing financial matters, try to understand and accommodate your mate’s views.
7. Keep Your Self-Esteem
Grace Weinstein noted: “For the man or woman
who is no longer earning an income, there is the emotional problem of diminished status and reduced independence, both resulting in loss of self-esteem.”
Do not quickly conclude that you were laid off because you were not valued as a worker. Twenty-nineyear-old Rani was laid off just three weeks after receiving the highest possible raise in her level at her annual
review. While being an honest, trustworthy worker
may keep a person from being laid off, this is not always the case. So one need not take being laid off as a
personal affront to his worth. Valued, reliable workers
may be affected too.
quickly, you will never have enough.”—Today’s English Version.
To follow this advice, keep a written record. Write
down everything you spend for an entire month, categorizing your expenses. Also, keep a record of how
much money is coming in. If you find that more is
flowing out than is coming in, look at your expenses to
find the source of the problem. Once you know what
you spend and where you spend it, you can gain control of your finances.
Keep your budget flexible. In the first few months,
mistakes will be discovered, and some expenses may
be overlooked. Make adjustments and corrections until
the budget fits your needs. A good budget will thus be
your servant, not your master.
The above guidelines may help a person to ride out a
period of unemployment. But to be effective, these
points must be balanced with a proper estimation of the
true importance of money.
To Prepare a Budget:
1. Calculate how much cash is coming in.
2. Keep a record for an entire month to identify
where your money is being spent.
3. Prepare a budget based on the first two steps.
Decide how much should be allocated to each category.
4. Make adjustments to your budget as needed.
8. Set Up a Budget
Many cringe at the idea of a budget. They feel that
it represents confinement, something that will restrict
them from buying what they want. Not so. A budget is
a tool to help you achieve your goals, not restrict you.
It is simply a system of control, a laid-out plan to tell
you where your money is going and how to make it go
where you want it to.
Surprisingly, many have no idea just where their
money is being spent. Instead, they fall victim to impulse buying and then lament: “Where did it all go?”
The need for avoiding such spending is especially important when times are difficult financially. “Plan
carefully and you will have plenty; if you act too
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