I'm absolutely pumped for today's blog post! We're talking about finances which is frequently overlooked by us men. I can totally relate, I've experienced debt that is seemingly insurmountable, as well as, the complexity of having money going out in a million different directions. Simply keeping your finances in the dark is not the answer. As men, we need to help our families and shine light on our finance. This takes courage but you can do it! We believe in you.
#1. - Pay Yourself First Each Pay Period
Why? - Honestly because you work so hard to earn it. Take 10% right off the top and place it in savings. Paying yourself first helps you progress financially and psychologically it helps you stay motivated.
#2. - Rainy Day Fund
Why? - For savings. My dad always taught me to have a 'rainy day fund.' That sure is wisdom when your car breaks down, furnace gives out, or some other unforeseen circumstance.
#3. - Can't go in debt paying CASH
Why? - Simple idea but revolutionary. If you have a problem going into your overdraft or over using credit cards. Withdrawal a premeditated amount of cash for entertainment, shopping, or eating out. Once this amount is gone stop spending until next your next pay period. This will dig you out of debt and is a reward for working hard.
My wife and I speaking. Finances is one of our favorite subjects, but it wasn't always like that.
#4. - The Come Back Strategy
Why? - Have you ever been in a store and seen something you really wanted? We all have. Often we've never thought about that item previously though so we can categorize that as an 'impulse buy.' These purchases add up overtime and can eat up your hard earned dollars quickly. The Come Back Strategy is this: if you're shopping and something catches your eye, leave it until the next day or week. If you really want that item, you'll remember to Come Back. If it was an impulse buy, you'll forget about it.
#5. - Give to people
Why? - The best investments are not in stocks and bonds but in people. The most satisfaction one can feel is not in buying another TV but in giving to someone in need. Material things have temporary satisfactions but investing into a person can have an eternal impact. This could be inviting the neighborhood kids over for a BBQ or paying for a college kid's text books. Good churches, charities, and the like, are also great investment because they are often helping in the local community. Do your research of course and you too can make an eternal impact with your finances.
The B.I.G. Company Inc.
Being Incredible Gentlemen