So far, this has been a theoretical exercise. Now we need to test it against reality.
Next month, compare your actual expenses against your budget. Did you manage to reduce and control your spending in the real world?
If so, well done.
If not – what went wrong? Was your budget unrealistic? You’re sure? Being brutally honest with yourself? Okay, it’s your budget. Adjust it. Then look at the new totals. Are your total expenses still less than your total income? Can you live with these numbers?
If so, well done. Carry on. Compare again in a month. And the month after that. And for as long as it takes for you to be confident that your spending is under control.
If not, we both know that you still have a problem. If, after all of these calculations, your total monthly expenses are still higher than your total income – you need to take drastic action.
Can you earn extra income? If you can find a part-time job (or a better permanent job) that increases your income above your expenses, that will solve your immediate problem. It might, for example, allow you to pay off old debts, putting you back on track to cover your normal monthly expenses.
But you still need to focus on those expenses.
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Stop living from salary to salary. Achieve Financial Independence. Retire Early. Join the FIRE movement igniting the world.
Follow these weekly posts for solid advice on how to escape the rat race, covering material contained in Hard Money.
This is no get-rich-quick scheme. It won’t be easy. That’s why it’s called Hard Money.
Work while they sleep. Learn while they party. Save while they spend. Then live like they dream.
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Anyone in Johannesburg who would like a signed copy (of any of my books, or Shorty’s Poems) can have one delivered to their door by Big Bad Wolf Motorcycle Maniac Deliveries. No charge for delivery.
Or have them delivered anywhere in South Africa via Bakgat Books. https://bakgatbooks.co.za/all-stores/burning-books/
Also available in Edenvale from Inner Journeys bookstore.
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Or from Profound Books in Bramley.
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And they’ll always be available on Amazon.
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