For the month of November I was in the surplus. Some changes were my entertainment and the restaurants. The entertainment in October was low but in November it was really really outrageous. But I new I was going to spend roughly that amount because I new I was going to get the PS4. The restaurants in October were a bit out of hand and since I new I was going to get the PS4 in November I thought that this would be an easy fix. Instead of eating out at work I packed a lunch on most days as a result I spent $5 dollars on snacks and restaurants where as in October I spent $32. I was surprised in how much money I made in November vs October. I practically doubled my cash flow. What I also was surprised in was the car maintenance in October I got a oil change and it was the first one I ever did and ya it was unexpected. For December I am just focusing on saving. My mom pretty much bought all of the gifts for I am hoping to spend less then $100 and have a surplus of around $300-$400. All depends on what my schedule is for the month. My financial goal is to get a car in the spring. I am hoping to have $5,000 in the spring. I already saved $2,000 so I need to save $3,000. My time frame is six months so if I save $500 a month. If I start in December then ya I just got paid around $240 and my expenses so far are around $20. I don’t have money working for me but I was going to go to the bank with my dad but he had to go to work. So I’m planning on going next weekend.
Time is money when your young is the best time to start investing. Compounding interest is one of the best examples why starting young is so valuable.
Invest in yourself
Get good education so you can get a decent job. Also invest time in expanding in your knowledge about stocks and different ways to invest.
Watch whats “hot on the market” and the stability in different companies. If theres an item that apearrs that “I need that” and your friends buy it or if its trending then you should probably go for it.
Take account what assets, Liabilities, Expenses and Revenue are. Start keeping track when your young so you know what kind of life style you have. What gets measured gets managed. Set your self a goal or a budget and strive to meet that goal. Do not waste your money on cars and all the fun stuff that is unnecessary.
Learn Self Dicipline
Live with in your means. Do not over spend on your assets that have hardly a return. When your habits are set high you struggle to meet them. If something was to happen to you financially your would have a really hard time keeping you out of debt because you would have those bad habits.