Learn How to Manage Your Finances

The topic of money these days is so taboo that even talking about how to manage it is a no-no.

But now you’re an adult, you want to start doing adult things like going to the pub for a drink with friends, finding a partner, settling down, buying a house, starting a family…managing your finances better.

Nowadays with social media, it seems like the way to live is way above your means. work hard and play harder kind of life.

It’s harder to ‘Unlearn’ old habits. As the saying goes, you can’t teach an old dog new tricks.

More and more people are finding themselves in debt and unable to pay off subject because of lack of knowledge and how to handle money.

So how do you teach yourself about money when you’re all grown? As you know the saying goes you cannot teach an old Dog new tricks, full stop!

But it’s better late than never I guess. You can still learn how to handle money properly even in adulthood.

Acknowledge and accept that you are not good with money and need to make changes.

First things first, for you to turn over a new Leaf with your finances you must acknowledge and accept the fact that you are not good with money.

Once you have accepted this you are then ready to make changes. Without fully accepting your situation you are unable to move forward and make any long lasting changes.

Assess your current financial situation.

This includes any income coming in and expenses going out. In order to make a full and effective assessment you need to write things down in black and white (it doesn’t have to be in a book. You can use programs like Excel) the point is, you need to make them visual.

This gives you a tangible figure of your financial balance (income – expenses). In order to make this work,  make a note of every single income stream you have and write down all the financial spending that go out including any credit card accounts.

Writing things down you also give you a clear indication of what relationship status you have with your bunny. It will give you a clear indication of whether you have any money left over at the end of the month for you I live in Payday to payday like 90% of the Britons out there.

Let go of your OLD spending habits

If you are that type of person that’s constantly saying – I don’t know where my money goes’ or when you begin to accept that the month end means ‘money comes in, money goes out’ then STOP! Starting investigating where your money goes each month! This should come after assessing your financial situation. Check your bank balance at the end of each month. Are you always broke by the 20 something of each month and have to literally try to survive the last week before payday? Do you have some money left over at the end of the month but then spend it all just before payday, simply because you know more money is coming in?

What do you spend your money on each month? And why?

Money is not always there to be spent. It should not be the case of money comes in money goes out. Once you start accepting this as a way of life, you will forever be a slave to money. And always needing to work because you need to have that money come in on the last day of the month only for it go out again on the first of the following month! No. This is not a way of life and can be changed.

Let go of your former carefree spender and learn to actively be intentional with your money.

Respect Your Money, and your money will respect you

Many a time I heard my mother say to me you need to respect your money.  And I used to say to myself, what on earth was respecting my money? I always However I had absolutely no clue what this meant.

So, what does it mean to respect your money?

It simply means being careful, being intentional about it and spending it wisely. So, not being frivolous with it.

simply means respecting your source of income.

Can you imagine just how hard you work for that money!

You wake up at the crack of dawn Every morning, get dressed you go to your office sit down at your desk for 8:45 ready to start work and finish work at 5:15 and at times 6 pm.

Your colleagues are not all easy to get on with but you grit your teeth and smile because you know it’s the right thing to do.

Your boss piles on a whole load of work on your desk, not because you’re a machine, no, But because they can.

You do this repeatedly 5 days a week, for four weeks a month, 12 months of the year. Season in, season out!

And as soon as you get your money in you spend it on booze and Prada mascara – erm No

That’s not respecting you and your money!

Instead, learn to budget and save to build a better future. Work hard NOW so you won’t have to work hard later.

Value your time – you don’t want to spend the rest of your life working so hard just to make ends meet.

Learn how to start Budgeting

Budgeting does not come naturally to everyone and is not as easy as what people make it seem to be. Especially when you’ve never budgeted before and or are on a Low Income

At times, you have the best intentions to start budgeting. You set a goal to start budgeting in January, but by March, you’re back to your old spending habits.

This happens for so many reasons, it could be that you are not setting your goals properly, or you don’t know how to start budgeting and saving

In this case, then you can learn how to start budgeting as a beginner here. Don’t be put off starting a budget if you’re on a low income. It’s also possible to set up a budget when you’re on a low income and you can learn how to do that here.

Read Relevant Personal Finance Material

I have intentionally left this to last because I know how difficult it can be to find good helpful information especially when it comes to personal finance.

Whenever I read a post about personal finance, it’s usually written using very technical finance words. Going into a lot but confusing detail about ISAs savings accounts etc. A lot of jargon that I, to be honest, never really understood!

So, try to read material that you understand, once you get to grips with something, then you can move to the ‘next level’

Personally, that used to put me right off. Until I started reading e-books that highlighted HOW to start budgeting. Especially when it comes to information about money. There are so many books and blog post box and whatever else way of information out there about finances that it can’t only be overwhelming but confusing. For you to really understand finances

So I asked you once again how good are you with money? Do you think you make good choices when it comes to spending money? Or are you so frugal that you do not spend any money whatsoever question mark

How important is knowledge on personal finance to an adult?


earning to manage you money as an adult

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