Money Management Essentials

Hello and welcome again to the MabsArts bloe, where we discuss all manners of things. From the spiritual to the material, today we will be covering the topic of managing money. This comes straight from a person that learns to manage his money alittle bit better everyday.

Let’s get started!

Divide your Money

Ever heard of the phrase, don’t put all your eggs in the same basket? Well this is very similar to that, “don’t put all your money in the same place.”

If you’re anything like me, you spend money as soon as you have it. Which is why, the first thing I know is that if I want to not spend all of it, it’s best if I divide my money.

A savings account, my salary, and the business money.

Handling the money this way allows me to go out ans enjoy life, without having to worry that I’ll break the bank.

Keep Track of Your Income and Expenses

If you’re not keeping track of how much you’re making and how much your expending you will have no way of knowning where your problem areas are. Maybe you spend too much on take-out and fast-foods. Something that can easily save you hundreds of dollars a month if you do it regularly.

Using an app like the free online Fiverr app. can help you. Whilst it’s geared for a more business mindset, as freelancers you can use it to keep track of income/expenses with ease. That take-out you ordered is a business expense if you’re eating cause you don’t want to pass out when you’re creating.

Keeping track of what you make and spend can also help you get a bank loan as it shows that you are responsible with your money (of course the income/expense sheet reflects your situation, so use it to get more responsible each day.)

Make proper use of your Assets

Listen, if you’re a freelancer, everything you have is an asset to keep your lifestyle alive, from your food to the water that you use to bathe. Everything helps you get in the mood to create your work. As such it should be treated with respect.

No more eating all the food cause you’re bored. No, that’s fuel for your passion work. Eating appropriate amounts will help you be more productive, energized and creatice while you work. That goes for everything in your life.

If you have a beer while you work, no problem. Just don’t get plasterred that you can’t work. Same goes with marijuana. You are a productive user, of anything that’s your vice.

Not only is this a huge tip as being mindful of your problem areas can help you get better at them, but just think how much money you could save if you smoked 1 pack of cigarretes a day instead of 3. All extra money that can go into furthering your dreams, joy, and wallet.

We hope you’ve enjoyed these tips for money management. We love you and would love to know what money management tips you use in your life/business.

Let’s grow together.

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