Sometimes we get a chance to take a big step forward, financially. Sometimes something goes right for us in terms of money. Examples include: finally getting a job after a long time laid off, getting a better job with higher pay, refinancing to a super low rate, selling a house and moving to a better one.
When (not if) these things happen to you, bravo and congratulations. You've worked through enough hard times, you deserve some good news. But, make sure to hold the line!
What I mean by this is, don't spend all your new found money and end up worse off than you were before. Before the positive step forward came, I bet you had all sorts of great ways to save money, keep expenses low, make ends meet. And you just knew that if fortune ever came your way again, you'd make sure to never get into money trouble again. Well, now you have to follow through on that.
You'll have to fight against many urges when you come into some money. You'll want to just relax a bit, take the pressure off and treat yourself. That's just fine, but be careful. Perhaps the biggest risk you'll face is that you'll just start spending your money at a faster rate than ever before. And you'll blow through whatever windfall you've achieved. I've seen this happen all too often.
Best thing to do is make a budget, and stick to it. I don't mean to throw cold water on the celebration party. But be careful, be deliberate, follow your budget. Still treat yourself, but just a little, for a little while. Then get back to business.
Good luck, and peace!
When (not if) these things happen to you, bravo and congratulations. You've worked through enough hard times, you deserve some good news. But, make sure to hold the line!
What I mean by this is, don't spend all your new found money and end up worse off than you were before. Before the positive step forward came, I bet you had all sorts of great ways to save money, keep expenses low, make ends meet. And you just knew that if fortune ever came your way again, you'd make sure to never get into money trouble again. Well, now you have to follow through on that.
You'll have to fight against many urges when you come into some money. You'll want to just relax a bit, take the pressure off and treat yourself. That's just fine, but be careful. Perhaps the biggest risk you'll face is that you'll just start spending your money at a faster rate than ever before. And you'll blow through whatever windfall you've achieved. I've seen this happen all too often.
Best thing to do is make a budget, and stick to it. I don't mean to throw cold water on the celebration party. But be careful, be deliberate, follow your budget. Still treat yourself, but just a little, for a little while. Then get back to business.
Good luck, and peace!
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