C8 Session 62- S.M.A.R.T. Money 

Key Questions

WHO manages your bills/money? 

WHAT boundaries are set up around your money?

WHERE can you go to get help with learning how to use your money wisely?

WHY is it necessary to have a plan for your money?

WHEN someone asks you to give them money what should you first consider? 

HOW often do you find yourself running out of money? 

SAVE. Save a little bit or save a lot. But always save something. Have an emergency savings and a fun time savings. Usually, fun time savings get used once or twice a year. 

MANAGE. Manage your money. Whenever you get money think of yourself as your accountant. Making reckless or unbeneficial decisions for your client (yourself) can get you fired. Think responsibility. 

ALLOWANCE. Give yourself an allowance. Yes, we do need and want items. Please put them in your budget so that you can get what you want and stay on task with your budgeting schedule.  

REVENUE. Your income. Always check your income with what needs to go out. Don't plan to buy or do something that will push you into a corner financially. Pay your bills first. Save/Invest second. then spend.  Patience is a virtue the urge for "right now" will go away and you will be happy for making wise choices.

TERMS. Set Terms when it comes to your money. Not only for yourself but also for others. Set boundaries. After all your major responsibilities have been cared for. Monitor how much you have availible to spend and availible to lend. You should never run out of money this way.  

Self-Reflection Points

• If you are not the one managing your money then make sure you are in the loop with what's going on. 

• When someone else has to manage your money and you don't like how your money is being handled find a new person or a company you can trust. Ask questions and do research with people in your situation.

• Everyone should have a budget no matter what their income, small or large.

• When spending you should be mindful and not wasteful.  When shopping, make a list and plan for unexpected purchases.

• You can go online for sample budging sheets. Find one that works best for you.

• You can talk to a financial advisor at a bank, or other legally-established places dealing with money to help you budget or invest your money. Still, be mindful of the risks. Do not trust anyone with your money!! Do your research 

• You can take some accounting classes. The more you know the better your money will work for you.

• Learn how to invest your money. Let your money work for you.

• If you save a dollar a day, that will equal $365 a year. Times that by --- years. Every little bit counts.

• "Save money for a rainy day and a sunny one too." It's good to have money for when something goes bad but it's even better to have money when something pops up good. example; A new outfit for a special event, a great deal on a car, or maybe even a vacation getaway with some friends.

• Have a separate spending account if possible.

• Avoid lending out money that you can't afford to lose. That's every dollar you have!  Ask questions. Set clear boundaries.

• Lending money to a person who mishandles their own money may not be a good idea. Ask questions, You don't want to become their next victim. 

• If you don't have the money to spend then conclude that you can't afford the item at the time. Don't try to "Keep up with the Edwards" by borrowing from others or using credit cards. Be patient and stay in your lane. You'll thank yourself later.

"The plans of the diligent lead to profit as surely as haste leads to poverty." -Proverbs 21:5 

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