On the heels of our last post last month about setting up a Spending Plan, which included links to budgeting tools, this may see a little contradictory. But, if your waiting for the newest tips and trends in personal finance to turn your finances around? Stop! The fact of the matter is, there is almost nothing new when it comes to managing your personal finances. The basic principles that work are the same basic principles that have always worked. Finance blogger Budgets are $exy made this point recently in a post where he shared insight from “Thrift,” a 19th century guide to personal finance he found in a used book store. Here’s one great quote on saving he shares:
“Thrift does not require superior courage, nor superior intellect, nor any superhero virtue. It merely requires common sense, and the power of resisting selfish enjoyments. In fact, thrift is merely common sense in every-day working action. It needs no fervent resolution, but only a little patient self-denial. Begin is its device! The more the habit of thrift is practiced, the easier it becomes, and the sooner it compensates the self-denier for the sacrifices which it has imposed.”
That’s right! If you want to save money, you don’t have to be really smart or strong. Perfectly normal people can do it. All you have to stop spending more than you earn and you have to stop spending as much as you earn. It’s not easy, but you’ll get used to it.
So,there you have it. 140-year-old budgeting advice that’s just as relevant today.