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"I did my work this week and baby I just got paid.  Wanna go buy me a fresh pair of gators, with some of this money that I made."  Those are lyrics from Sir Charles Jones "Friday".  What an appropriate song on a Friday afternoon when most of us have just gotten paid.  The song goes further to mention that he spends all his money on everybody else but tonight he will spend every dime on himself.  According to Forbes magazine, CareerBuilder found that 78% of U.S. workers are living paycheck to paycheck.

Here are some facts that were released surrounding this survey:  more than 1 in 4 workers do not set aside any savings each month, more than half of minimum wage workers say they have to work more than one job to make ends meet, and nearly 1 in 10 workers making $100,000+ live paycheck to paycheck. 

How do we break this cycle?  First, we need to recognize that this is a problem and once this is established, work on a spending plan.  A spending plan is a written method to show you how much money you have coming in, what you are spending it on and possibly where you need to make changes so that you will have extra cash.  The first step in this plan is to figure out how much you make each month and compare that amount to how much you spend each month.  Then find a system that works for you to track your monthly expenses for 30 days.  Upon reviewing those items, consider these questions, why did I need or do I need this item or service that I am about to purchase, and next consider the value by questioning how much the item or service is, lastly ask yourself why do you want or need that particular item or service.  Questioning your decisions on how and where you spend your money can help you avoid rip-offs, scams, instant gratification, too much debt, no savings and no financial plan or goals. 

Being a wise money manager will allow you to track your spending, so set a short and long-term goal to pay your bills on time and save for emergencies.  Become a savvy consumer by making sound choices, being informed, and getting the most for your money.  #SPEAK2MYHEART

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