Knowing Your Personal Finances: Monday Check-up

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
Monday – March 17, 2014

Knowing Your Personal Finances
Monday Check-up
By Donell Edwards

Happy Monday!

I hope your weekend was fantastic and under control.

Are we making progress?  That is the question of the day.  But, what does it take to make progress?  Perhaps Nobel Prize winning Irish playwright George Bernard Shaw said it best, “Progress is impossible without change, and those who cannot change their minds cannot change anything.”

In her post on last Wednesday, our guest contributor Ms. Felicia Johnson did a brilliant job of discussing “making change.”  Making long held behavioral changes are extremely difficult.  Breaking old habits, getting out of our comfort zone, and adapting to new methods takes time and effort.  Are we making progress, is the willingness present to change?

As you make your own personal assessment of the progress you have made over the past week, ask yourself:

• Have I been diligent in keeping track of all of my spending on a daily basis?
• Have I made an honest and objective evaluation of what I have recorded?
• What have I learned that will allow me to improve my spending habits?
• What changes must I make in order to manage my spending more effectively?
• Have I developed a budget or adjusted my budget based on what I have learned?
• Can I see the benefits now of regularly monitoring my spending to identify and eliminate bad spending habits, and the need to continue monitoring my spending?
• Have I taken the time to meditate on what I am doing, what my personal financial goals are, and the changes I must make in order to achieve them?

I would like to leave you with this thought for today, it is a very powerful reminder of the need to stay focused, and to be determined, in order to successfully accomplish anything in life.  As you go through this day think about what Calvin Coolidge, 30th President of the United States once said, ” Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

Have a great Monday!

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:
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.

Recommended Reading:
Should You Use Your Tax Refund to Save Money or Pay Off Debt?
http://www.gobankingrates.com/tax/how-to-spend-tax-refund-savings-account-paying-off-debt/#.Uwdq4xvYjV8.email

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