WHERE DID THE MONEY GO? Cont'd...
Same thing with other expenses, I pick everything for the month. Hence a few days after payday, I am left only with money for discretionary spending. If you come and tell me you father is in hospital overdue for discharge, and you need to borrow money to help settle the bills, there is nothing much I can do. It is true pay day was a few days ago, but the voucher has been closed and the cash all gone to their various places of assignment.
If you are much more disciplined than I am, you can have the money sitting in your salary account, and disburse it according to budget. You only go to the bank with a list of what you need the money for, based on your budget, with no room for impulse.
If London bridge is falling down, repair it with money earmarked for such purposes. If it is important enough, you must have started putting money aside for it. Of course once in a while, unforseen emergencies come calling without notice. SOmetimes the scale can be such that it wipes up your reserves. This is understandable. However, if it happens every month, then there is a problem with your financial planning.
The crux of the matter is control, gaining control of your spending. Imagine your economy is like an airplane, you have to make your way to the cockpit, remove it from auto pilot and take over the controls, whatever it takes. It will not happen overnight. It you are thousands of miles off course, it will take a while and some doing to get back on course, but you can do it.
Having a short term and long term goal helps in galvanising focus. Most people complain that they don't have money to start a business, workers inclusive. The easiest and cheapest source of funds for a business start up is personal savings. The interest rate is 0%. Maybe you want to build a house, go back to school or whatever. Having a focus helps move you along the road to financial discipline, if you can come to the understanding that a dripping tap can fill a bucket. If you can gather all the money that has been dripping out of your hands in one place, you will be amazed how much it amounts to in one year.
So where did the money go? Witch rats from your village did not spirit it away. Chances are that nobody in your flat or house is stealing it. If you religiously itemise every amount you collect from that envelope, you will see clearly where it went. It will simply add up, though you may not see what it has achieved. It simply grew wings and flew away because you did not send it on any specific assignment. You allowed them to loiter away. Look at money as your servants, and give them assignments before you leave home, you will see that you will get results.
If you allow them to roam free, you will continue wondering where the money went...
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