H
ow many of us have thought
at one time or another, “Where
does all my money go?” It
doesn’t matter how much or how little
you make, the key to financial success
is control. While some people are born
lucky with a lot of it, some others land
up making a lot and yet find themselves
in a poor state towards end of each
month. In contrast, there are some who
seem to do very well even with very
little. In fact, it’s not at all uncommon for
a lot of people to go from rags to riches
and back to rags.
Several examples come to mind of
famous people who have been through
that cycle, with some having sprung
back yet again – Mark Twain, Thomas
Jefferson, Boris Becker have all gone
that route and ended in bankruptcy.
Amitabh Bachchan, has bucked the
trait by going back to riches are facing
bankruptcy in the late 1990s. It is easy
to avoid thinking about the financial
future, when dealing with the present
is difficult enough. However, don’t
forget the simple rule of life that nothing
happens without a plan.Control your money
Planning and budgeting require control
and it doesn’t come naturally. Without
the ability to measure our financial
health and develop a plan and budget,
we will not achieve our financial goals.
However, making and sticking with a
plan isn’t necessarily easy, and it often
involves what some people would
consider sacrifices. The fact is that the
rewards of taking financial control are
worth any small sacrifices and more.
After all, you don’t want to share the
fate of celebrities who have gone from
being rich to paupers because they
lacked financial prudence.
Before you can decide how much
you need to save to reach your
financial goals, you have to measure
your financial condition — what youBUDGET SPECIAL
This is a good time to get a fix on
managing your money with proper
budgeting, saving and spending
62 12 FEBRUaRy 2018Your
HouseHold
Budget
Your
HouseHold
Budget