You have to keep yourself and your finances under control

Managing yourself is more difficult than managing your finances.

If you want to get rich and stay rich, you have to learn both managing yourself and how to control your finances by budgeting. First of all, start tracking your spending. Track even items that you think you can’t influence – like taxes etc. Later you will find ways to pay less in taxes, but for now just record your spending, to have exact data on how much you spend. If you are already doing it, you may be surprised how much you spend on items you don’t really need.

Tracking your spending is crucial for stopping money leaks from your purse. Most women I know have the ability to spend everything they earn or receive from their husband. It is difficult to explain to them that they don’t have to have zero in their account by the end of month.

 Having your spending under control is so crucial that you should stop thinking about it and just do it automatically. When you use your plastic money or online bank account, it is easy for you to summarize your spending. Keep all receipts of your purchases and use them for your financial report.
Keep track of everything you spend your money on. Yes, I mean everything. Do it at least for few months and then for a month each year to see if you still keep it under control. Keep track of what interest rates are paid for having your money on your bank account and how much you pay for your debts.

Look for better interest rates and use them. Find leaks in your money system and close them. Don’t let your money leave you if it is not necessary. Don’t be lazy: fix the leaks.

And you can make other people happy too - Last week I have borrowed some 11 000 € from my family, because I was paying around 400 € on mortgage a year just in interest rate. Profit for my family for those 11 000 € in their bank was just 2.5 € a year!

So I paid 100 € to my family instead of my bank and kept the 300 € a year for myself. Nice win-win situation.