I am sadly behind on Games of Thrones and in watching, I found a correlation and great money lesson. In the third season, Tyrion gets handed the Master of Coin, which allows him to rule the money for the kingdom. But like most of us, he feels overwhelmed and not prepared about his money management:
Tyrion Lannister: Master of Coin?
Tywin Lannister: It would appear to be a position that best suits your talents.
Tyrion Lannister: I’m quite good at spending money, but a lifetime of outrageous wealth hasn’t taught me much about managing it.
No one cares about your money more than you
The saying is so true. While people might want your money, only you will care about it more than anyone else. It is up to you if you want to GROW your money and how you go about changing your net worth. If you want to live pay check to pay check versus building a solid financial future – that is up to you.
Learn how to manage money
Whether or not you have a background with money, nothing can stop you from learning about it. And you don’t have to learn from people’s successes but also from their failures. If you see your friend go into consumer debt, acknowledge how they got there so you can avoid the traps. Managing money can be
Curb the overspending
Everyone seems to be very comfortable with spending money, but are they spending it in the right way? Are we just spending money on things because we want them versus need them. (For the things we want, build a Fun Fund so you can afford your desires.)
Know where your coins go
Track your spending. Not sure why you do not have money at the end of the month? Investigate where it is going. Half of the battle is being able to track how you are spending your money to make sure you have enough.
Will you take on the challenge and be the master of your coin?
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