Taking Care of Money Matters

Now that I am officially off work again, I’ve been paying a lot of attention to budgeting and managing our finances.

I read an article on moneyville called “Why tracking your spending makes sense”. Boy did this article come in the nick of time. When I think about it, as strict as I might be with making sure our bills are paid in full and on time, I am guilty of the little spending. And yes, it does add up. But I haven’t always been this way, as a matter of fact if they had a contest for the most irresponsible spending habit, I might have won. I used to make sure I had enough to get me through, spoilt myself silly because I thought why not, I have no responsibilities. I maxed out my credit cards and put a dent on my credit rating, needless to say that was NOT a smart idea. And did I mention that I didn’t even have a savings account, there was no use for it because I had such a dangerous spending habit.

Then one day, two things knocked me off my foot. Reality and Responsibility, oh yea the big R’s. With a husband who tracked my expenses and a son on the way, things had to change. I started to think of living a financially responsible life and buying a home someday. Now we are on the right track to a secure future, with money set aside for our son’s college and money set aside for our down payment for our house, need I give myself a pat on the back.

One thing I have decided to adopt from this article is the spreadsheet that tracks what money is coming in and going out, that’s a wonderful way to stay in check. If we are able to keep track of our spending, it will help us a great deal. Now on the business aspect of things, as entrepreneurs I’m sure we all know how important it is to keep track of our finances and spending. I try to think about alternatives before I make any business purchase, I’ve also learned to be creative. If you have any tips on keeping track of your spending please share it with Lisa and I (Lola).

The above is a guest post from Lola Coker-Esu of The Socialites’ Manual, member of the YRSBiz Blogging Circle. The York Region Small Business Club helps small business in York Region connect online and in York Region. Their goal is to provide free or low-cost opportunities for local businesses to connect and engage with each other and ultimately to help small businesses succeed. Learn more about YRSBiz at: http://yrsbiz.ca

Lola Coker-Esu
647 993 0471
Website: www.thesocialitesmanual.ca
Blog: http://thesocialitesmanual.blogspot.com/
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Twitter: @socialitemanual
Email: info@thesocialitesmanual.ca

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