The great scientist Albert Einstein once said, "It takes a genius to seethe obvious." What he meant by that is that sometimes the simplest thingsin life are the most powerful ... but because they are so simple, we tendto ignore them, and not let them work for us.
One of the simplest but most powerful money making ideas is this: Keep adaily log of everything you spend. Go to the dime store and buy a littlenotebook. Carry it with you wherever you go. Write down every penny -every single penny - you spend every day. It's as simple as that.
If you do this, you will find something magic happening in your financiallife in just a few weeks. There is something incredibly powerful about writing down all yourexpenditures. It makes the flow of money through your life more real andexact. It shows you simply and clearly just where you are spending yourmoney, on what and why. Once you know that, it becomes much easier tocontrol your spending.
Many people who have taken up this practice have not only learnedsomething about themselves which they never knew before, but they are oftenastounded.
For example, one woman realized through examining her notebook that sheactually spent nearly $2,000 per year on diet soft drinks, snacks and candybars! Since her job as a office clerk brought her a scant $12,000 peryear, she realized that one-sixth of her entire income was being fritteredaway on something entirely frivolous. The woman gave up the snacks anddrinks, and found she had enough money to afford health insurance - plushas $400 left over. If you could choose snacks or health insurance, whichwould you choose?
The point is, it was her daily expense log that helped her achieve theinsight and clarity she needed to get control of her finances. That's whata simple spending record will do for you - it will give you control overyour spending, and thus your financial life. There may be nothing but a75-cent notebook and a ballpoint pen between your life of financialstruggle and financial freedom.
Monday, April 21, 2008
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