Do you know how to manage your finance? Yes, it’s possible. Although, without the right mindset, it will seem like a daunting task.
A good friend of mine once said to me, “bro, am reaping from my hardwork but the problem is that, i can’t manage my finance“.
Now, his problem wasn’t actually making the money but managing his hard earned money.
The crucial way to manage money wisely is actually by saving and investing it wisely. However, any of these will not fall in place without the right mindset.
According to my friend, he said his money goes as fast as he gets it.
Probably, he is quite the buoyant type or whatever the case, but there’s lack in how he has control over his finance.
Having a good mindset and control over your money, is another sure fire way to grow your savings or increase your savings fast.
Self control is a trait of strength in controlling your thoughts and actions, and it is very advisable you develop it.
Not just for finance sake, but for every aspects of your life as well.
You know, the funny thing about money is that, it is hard to come by and easy to go at the same time.
Not having self control over your finance only makes the whole thing worse.
There have to be a balance between the money that gets into your hands and how you control it.
Have you ever got a huge amount of money and you feel like it will stay for long, only for it to be gone in a blink of an eye?
Seems like a dream to you right? Well, That’s exactly how money acts when you misplace your self control over it.
The main factor behind it
In order for you to properly manage your finance by being self controlled, first, you have to make the decision and stick to it.
If you planned on investing your money into something or to manage it properly, it was a decision on your side.
Although, being a decision on your side, it will prove to be more solid when you back it up with the decision to adhere to the rules you have set out to accomplish that goal.
If you see it as a goal you to accomplish, then you could let your brain do the wonders for you.
Before i proceed with the necessities needed to keep your mindset heated to manage your finance, there’s something you should note.
Just incase you haven’t known the power of the mind, these techniques to manage your finance with the right mindset will let you know just that.
Put it into practice and it will put you on track to manage your finance the right way.
Remember, with the right mindset it’s never impossible.
Here are the mental techniques to use to give you the right mindset to manage your finance :
1 Replace images in your head
Psychologist highlighted that, before you decide to do anything, it requires permission from the brain.
That means, it is been pictured first in your head before your sub-conscious mind finally lets you to do it.
You can remember what i said about making up your mind by deciding to develop your mind and the power of the mind?
That goes to tell you that, until you develop that mindset, you’ll not be able to replace those images in your head.
It’s more like using your mind to be for you, and not using it to be against you.
Have you ever wondered why you seem to spend money on unecessary things when you have the money contrary to when you don’t?
That’s the power of money taking over your ability to control it when it comes in.
Let’s take for example, you have a large amount of money and all you could picture all day is on the negative more than the positive.
Your next move of course will be according to what you have pictured in your head.
As long as you are not able to replace those images you had in your head at that time, you’ll likely fall into the money trap.
You want to be practical? Go ahead, picture yourself lavishing money all around now, replace that thought with doubling the money.
How does it feel? Good or bad?
However, you should note that the goal is to effectively replace images in your head when any money arrives.
So whether you need to adopt a strategy to make this work, make sure it’s one you can use to your advantage.
2 Think about the future
By thinking about the future, you will be forced to shift your thoughts away from spending unnecessary.
So, use it as a medium to maintain self control over your finance.
Thinking about your future with the right mindset, strategy and planning, is a good way on how to manage money in your 20’s.
Even though you may not have have plans for the money in the future, (although, it’s good to) consider some things.
Think about what happens next when all the money is gone.
Tomorrow is future, it must not be a case of months or years, just incase you’re thinking, oh! Dude, the future is too far to wait for.
Remember, it takes quite some time for money to fall in and very limited time before it falls out.
However, with the right mindset like i stated, you should be able to control how your money falls out.
When you successfully develop this sort of mindset, it will motivate you to also put your money into savings account.
Probably, in the nearer future, you could think of useful ways to invest your money.
Talking about how to manage money wisely, make money from your savings or doubling your money.
The investment with the right mindset of thinking about the future is the way forward to it.
You must not have all the money in the world before you can invest in something.
You can also think of making money on the side at home by utilizing online opportunities, as long as you’re skilled or talented in one.
Here you can find businesses that requires little capital to start at home or anywhere at all.
3 Develop strong will power
Now to tell you the truth, if you can’t develop will power by keeping up with good mental strength, forget about the ability to think about the future.
You see how they go hand in hand right?
Developing will power has to do with your mental strength ability.
Nevertheless, it’s all in your head. Make all efforts to detest those voices in your head giving you negative suggestions.
The more practical you get with avoiding those negative voices in your head, the more will power you build.
If you want to start from somewhere in developing your will power, understand that you own your thoughts.
Also, avoid unnecessary distractions that doesn’t seem to get you focused.
Very soon, you will begin to master how you control your thoughts and actions and that’s it, the mastery of will power begins to set in.
Above all, it takes your ability to decide to get this accomplished.
4 Implement delayed gratification
When you win a lottery, how does it feel? Much joy and pleasure right?
How about when you have worked hard for something and it later pays off?
That’s something to be very grateful about but there’s a downside to it when you don’t delay the gratification.
The downside occurs when you don’t wage your gratification towards any money that falls into your hands.
If you fail at this, you let the gratification take over you and could force you to be a victim of poor will power.
Now, you clearly see how this also relates to the third point of this article.
It’s all about good strategies and smartness.
If you have heard people talking about being smart with money, it’s not different from all that you have just read.
If you can build a slow response to your finance gratification, you are already making the whole task half easy for you.
Although, it doesn’t and shouldn’t limit your ability to make proper use of your finance.
Here is a hint on how to implement the delayed gratification :
when you get the money, begin right from that time to plan positively on how to use the money.
It should basically start with good planning and strategy on how to use the money
By the time you’re done planning, jump on your feet and be prepared for a successful personal finance management.Join me on social media