Financial Literacy Out the Gate: Debt Worksheet Introduction
The Disappearing Act:
- Every time you get money it somehow disappears, you have a knack for finding something to spend money on even if you don’t need it.
- Money seems to disappear because that’s the purpose, to be used. Tracking your spending is an essential element of this exchange. It helps to keep you sane. The purpose of money expanded is to leverage the experiences you want to experience. Knowledge of your situation is critical to this question.
- Your spending habits are discernible, observable, and accountable. Even if you are not, your passion is found in where your money goes. This fact offers additional tools for managing your money.
- Disposable income is a fantasy for many. Most of us will never really have money to burn. But, shrewd monetary management can designate some funds to what we want to use it for instead of what we are forced to use it for. The challenge is to do it so as not to feel guilty after the purchase or experience. Money can also work for you in ways that you may not have recognized. Credit, stocks, real estate, discounts and more are possible when you manage your money.
The Gate Keeper:
- When it comes to your money you know what comes it and what goes out, your relationship is one of understanding the use of money and how it can work for you.
- Tracking is a boon for your experience of guilt and want in addition to supporting the meeting of ends.
- The progression of your financial gate keeping begins with summative journaling (simple accounting). Then, progresses from formative journaling to debt management worksheet to 12-month budget. Each has its own discipline requirement and lesson to learn.
- Even before you submit to the discipline of a 12-month budget, you can build systematically toward your tracking regimen. You will start with a summative spending journal. This is an accounting of your bill payment for the month. You will practice e4ach in this training up to the 12-month budget.
Here’s a helpful tool: [2016DebtManagement_EXAMPLE]. Let me know if you find it useful or if you need some help working with it.