It is not easy to learn a new discipline especially if you are living with your parents and supporting your siblings. However, chances are that if you have a girl friend or boyfriend it will be a little different.
To know how to save and manage your finances effectively you will need a special mechanism of control. There is a saying that goes “If you cannot control it – You cannot manage it”.
To control your finances effectively its a big challenge not only for ordinary folks; even the more advanced earners have a problem controlling its outflow.
To control your finances effectively its a big challenge not only for ordinary folks; even the more advanced earners have a problem controlling its outflow.
It is more difficult to build or create wealth in abundance or start from scratch like me for example. I did not inherit anything from my parents or legacy of my family- in fact, I always battle to raise cash or keep my income stable.
I knew there was a way out of poverty although I grew up independent and self sufficient enough has never been enough. Cost of living has always been my biggest obstacle. There must be a secret of how successful people get around issues of building wealth – but there was no one to tell me this secret. "I thought to myself".
Luck And Planning Personal Finance
I was on the road to building my own empire of selling SMI programs because I owned the “Distributorship Dealership” that's according to my contract agreement. Now, my challenge was to sell, sell more programs of SMI. Recruit dynamic sale reps to work for me and all that jazz; and eventually to recoup this investment loan.
The idea to enjoy myself and my new-found “protected-territory” business enterprise was still high on the agenda of entrepreneurship, I was independent than ever before and walking on cloud 9.
Although running your own business is not easy, one had to carry a lot of responsibility, especially managing employees to produce results. I was hungry for that 1st sale called “ice-breaker” and dying to get my first appointment to close the deal.
Although running your own business is not easy, one had to carry a lot of responsibility, especially managing employees to produce results. I was hungry for that 1st sale called “ice-breaker” and dying to get my first appointment to close the deal.
My prospecting list had 10 phone calls and only 3 appointments on average days. Chances of closing deals at this rate was very low indeed and I was worried, but eventually got the appoint.
Always take advice from experts who have done it
The CEO of a very successful hotel gave me the appointment at 09:00 a.m. I was already at the reception to meet him. I had butterflies in my stomach and full of anxiety, I almost forgot my positive affirmation mantra.
I was anticipating this appointment to only last 15 minutes then I would be gone to the next appointment.
I was sitting next to the most incredible and successful man who; I was to try and sell “success” to; what a paradox – I walked out of his office after one and half hours.
I was sitting next to the most incredible and successful man who; I was to try and sell “success” to; what a paradox – I walked out of his office after one and half hours.
No! I did not close the deal but walked out of his office with the most powerful secret. The tools of how to plan a personal budget. It was something short of a miracle or things you only see or hear about in books or movies. This became my defining moment until today I am using this simple discipline every month.
Listen to the podcast on this blog called "Planning A Budget Effectively". Please leave your comments, I truly appreciate them.
By Isaac Khonjelwayo
Budgets are important. Many of us don't plan one and then we end up short before the end of the month. It doesn't take long to plan a budget and much of it can be copied to the next month.
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