Mind Over Money

So, a new year is upon us and with it comes the challenge of making and managing money. Or not.

I address myself to those who are making money but not managing it very well. If 2009 proved to be a difficult if not disastrous time for you money wise, listen up. I bet a dollar to a donut the trouble comes from your insistence on living dangerously – spending beyond your means, and not making what little effort is necessary to create and follow a budget.

Yes, you heard correctly. A budget. In fact, a monthly budget that turns into an annual budget – something that will take you right through to 2011.

Life can be very troublesome without this little aid. You find suddenly that there’s no food left in the fridge. Or a frumpy little lady from the property management office shows up at your door with an eviction notice. Or your spouse and children start despising you. Or those perennial wolves – the bill collectors – start howling at you over the phone.

But really, need I go into all this?

We know from many years of experience at Credit Canada that most who are behind the eight ball financially know why they are in trouble at some semi-conscious level. They simply refuse to listen to that trustworthy little voice in their heads called ‘conscience’. It tells you when you’re screwing up, spending money on luxuries when you ought to be spending it first on life’s necessities. Later, for having closed your mind to the truth, you end up paying in other ways that I call emotional coin – fear, anxiety, depression, frustration. Even anger. And this is not at all healthy. Not to mention, it’s no fun.
       
Getting a grip on the problem just comes down to getting a grip on reality; accepting the fact that your money needs your respect and attention. And again, it all starts with monthly budgeting.

So let me make this suggestion. If you’re mismanaging your money and your New Year’s resolution has nothing to do with solving this problem, then you must resolve to change your New Year’s resolution right now. Say it out loud like you mean it:

“I resolve to make 2010 the year of not living dangerously by starting and following a monthly budget.”

It’s not hard to get going. Just visit www.CreditCanada.com. Click on “How We Help” and scroll down to check out some of our “Financial Tools” in the left column. Here you will find everything for budgeting from our Piggy Pal and Monthly Budget Tracker, to Debt, Savings and Student Budget Calculators.  You can also find great tips on managing money and debt better in the article Your debt diet written by Caroline Cakebread for Chatelaine.

Make this effort, and have a happy – or at least a much less dangerous – 2010.