Do you really want to be [tag]wealthy[tag]? Do you want to get to the point where [tag]money[/tag] will not be an issue to you anymore? If you are like me, you will want to have more than enough wealth to live your [tag]dream[/tag]. You want to reach a stage in your life where you work not because you have to but rather you love what you are doing.  If you want to achieve this fast, then you need to learn how to take charge of your  spending.

The first rule in the school of wealth creation to always spend less than you earn. The moment your expenses is more than your income, you will start having negative margin or deficit. Deficit may lead you to borrowing money which eventually results in debts. This might get to a point where you are unable to pay back your debt. As you keep spending above your income each month, you will only be increasing your debt. Before long, you and your entire family will become a slave to it if you don’t stop now.

The way to avoid debt and live within your means is to create a [tag]monthly budget[/tag] with different categories for things like shelter, food, clothing, transportation, and so on. Wait… simply creating a [tag]budget[/tag] won’t solve your financial problems. You have to stick to it. It requires discipline to stick to your budget. What do you when you exhaust the money allocated to a certain category?

Don’t borrow against your future, because the future is always uncertain.

If you are already in debt, you will have to take this into consideration when you create your budget. There are plenty of actions you can take to reduce your debt, such as using some of your margin to pay it off, paying off your high interest loans first, consolidating all of your loans into a single, low interest, monthly payment, and simply learning how to delay gratification so you don’t get into this mess again.

If you stick to doing things on a cash-only basis, you may have to wait a little longer to purchase what you want, but it will definitely be worth it in the long run. Do you really want to be wealthy? Then, spend less than you earn. I started doing this some years back. Will you start today?