It’s a new month, a new quarter, and for many, it’s an opportunity to reset our financial goals. Yet some habits remain stubborn, such as spending beyond our means, hoping for a future pay cheque, or making financial decisions based on emotions rather than reality.
If there’s one essential guideline to follow, it’s to adjust your expenses based on your monthly income. This should not be based on your anticipated income. It is not the amount of money you were promised. Not the money you expect to receive soon. This is your actual, available income.
Too often, people spend by faith, believing more money will come before their bills are due. While faith is excellent for life, it is a poor strategy for personal finance.
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The Cost of Spending Beyond Your Means
Spending money you don’t have can lead to financial stress, debt cycles, and unnecessary pressure. Consider this: how often have you used your credit card or borrowed money to maintain appearances, only to later regret your actions? Financial peace doesn’t come from impressing others; it comes from making wise money decisions.
Don’t Spend by Faith: Hoping for a future windfall is not a budgeting strategy. If the money isn’t in your account, don’t count on it.
Don’t Spend on Promises: Until money is in your hands, it’s not yours. Promised funds can be delayed or never come at all.
Don’t Spend to Impress: People will clap when you spend, but they won’t pay your bills when debt collectors come knocking.
The Power of Intentional Spending
To gain control over your finances, follow these simple but powerful principles:
Plan Your Expenses Based on Your Income: Create a budget that reflects what you currently earn, not what you hope to earn.
Live Below Your Means: Just because you can afford something doesn’t mean you should buy it.
Save and Invest: Don’t just spend; allocate a portion of your earnings to savings and investments.
Track Your Spending: If you don’t know where your money is going, you’re likely wasting it.
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A Fresh Start for the New Quarter
April marks the beginning of Q2, a wonderful time to reflect on your financial habits and make adjustments. If you struggled with overspending in the first quarter, this is your opportunity to reset and realign.
As you step into this new season, ask yourself:
Am I making financial decisions based on reality or wishful thinking?
Do I have a plan for my income, or am I spending impulsively?
What small financial habit can I change today that will benefit me in the long run?
Take Action Today
Financial discipline is not about deprivation; it’s about making smarter choices. Start today:
Create or update your budget for Q2.
Set a savings goal, no matter how small.
Challenge yourself to track your expenses for the next 30 days.
The decisions you make now shape your financial future. So, as you enter this new quarter, remember: cut your coat according to your income per time.
Your future self will thank you.
