You Have To Be Intentional
Many people have been forced to spend less during the current COVID – 19 crisis. They are spending less money on gas, eating out, and other expenses that were a part of their everyday lives. Many are realizing “extra” money in their accounts since they are spending less money. You have said for years that if you only had more money, you would pay off or pay down some of your debt. You said you don’t have anything extra to save. We’ll, now you have the extra money. What are you going to do with it?
First, a word of caution. In the past, more money meant more spending for many of you. Just because we are in the midst of a pandemic does not mean that there are not opportunities to spend. In fact, many businesses are adjusting their advertising to encourage buyers to shop online and/or make purchases to take advantage of the discounts they are offering.
Now that you are realizing more money with the same income, you have to be intentional about how you use it. Designate an amount for debt reduction and an amount for savings. If you have not made a budget, then make one and put those amounts in your budget right away. This will hopefully help you to make it a part of your regular plan. Even when this crisis is over. We all know how quickly money goes when we do not have a plan for it. To make the best use of your money, you have to be intentional. All the best.Click here to get a free copy of my eBook: Money Management 101