To the credit of the rich, the ability to manage money is not discovered when there is a lot of money to manage. Instead, ideal money management skills are learned when money is very limited, even scarce. The idea of paying bills first before spending on frivolous purchases isn’t an idea only mastered through experience – at least, it doesn’t have to be. Imagine having your cellphone service cut off and really needing to make a phone call while wearing the new shoes purchased with the money that should’ve went to paying the phone bill ??!! I promise, in this very moment, there will be a sense of clarity comparable only to heavenly prophetic intervention. I temper this moot point by indicating that frustrating experiences like these are not the only ways to learn lifelong money management lessons, but these experiences are great preventative tools.
The quick solution is to setup automatic pay and transfers. Automatic payments and transfers takes the ‘man’ out of manual – it removes all potential for huMAN error like forgetting to pay the bill but remembering to buy new shoes. Banks are now beginning to offer incentives for setting up automatic payments and transfers because they too appreciate the ideals of good money management.
The Winsome: Setup up automatic bank transfers and payments - set it and forget it.
The Losenone: Have the peace of mind knowing expenses are already paid for
