Donell Edwards, Blogger
About Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service. He is also a professional speaker, freelance writer, and entrepreneur.
Know Your Money
Friday – July 18, 2014
Knowing Your Personal Finances
It’s Another Weekend
By Donell Edwards
As another weekend approaches if you are a regular follower of this post, or if you are new, I have just three words for you; Stay The Course. All of you Weekend Warriors know that it is time to put on your battle gear and prepare to go to war against the desires and temptations to spend needlessly during the weekend. As we repeatedly recommend, do not get off your budget over the weekend because you reason that, you have earned it, or because you deserve it, but remember the ultimate goal is to get out of debt and start building wealth.
There are lots of things that we have mentioned in past posts that can result in succumbing to your own desires, or allowing yourself to be influenced by others to engage in activities or to do things that cause you to overspend your budget. You simply cannot allow this to happen.
To get out of debt requires sacrifice, determination, and self-control. It is a process, and it takes time, but you will just be spinning your wheels and starting the process over and over again if you keep making new debts, and if you spend money that could have been used to pay down debt to splurge.
Of course, a little enjoyment within your budget is acceptable. The problem is not monitoring spending and letting things get out of control and overspending the budget. The weekend is one of the times when this most often occurs.
So, stay the course, be determined, exercise self-control, and don’t let anyone or anything cause you to waste your money this weekend. Check your budget and monitor your spending first to see what you can do and what you can spend.
To help you, there are several articles that we have featured in our Must Reads section in the past that I strongly recommend that you read or review again if you have already read them, at the end of this article.
Must Reads From Previous KYM Posts To Help You Get Ready For the Weekend:
Why Do We Splurge On Things We Don’t Need?
http://www.seedebtrun.com/everything-i-need-to-be-happy/The Dangers Of Credit Cards
http://www.moneysmartguides.com/dangers-credit-cards10 Reasons To Use A Cash Only Spending Plan
http://ht.ly/uZyDX
If you have questions or need help we are just an email away. Send your questions to Info@KnowYourMoneyGlobal.com
We Would Like To Hear From You. Are There Any Brave Souls Out There Willing To Share?
If you would like to share with our readers how “bad” spending habits have affected you, anonymously or otherwise, for our upcoming special, “Confessions Of Spendaholics,” please send your experience to comments@knowyourmoneyglobal.com.
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Disclaimer: I have a Bachelor of Business Administration degree but I am not a financial adviser. However, I have acquired years of knowledge about personal money management through my life experience working through my own personal finances that allows me to share that knowledge with readers of Know Your Money. The Know Your Money Blog posts written by me are my own common sense observations and opinions and are for informational use only. Although my blog includes contributions from experienced financial professionals, please make your own financial decisions based on personal research or contact a financial adviser.
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