Provided that your basic life needs for shelter, food and clothing are being met, more money is not going to make you happier. I know, that’s hard to believe, but it’s a proven fact. What will make you happier is learning how to manage well the money you have already.
Today, I want to give you a simple formula you can use to manage your money. It will work like magic in your finances whether you have a lot or a little. Here it is: 10-10-80. Let me explain.
The two enemies of money management are greed and fear. The 10-10-80 formula knocks both greed and fear out of the picture. The first “10” in the formula is the money you are going to give away. Yes, just give it away with no strings attached and out of an act of gratitude for all that you have. I suggest you give away 10% of your income right off the top and before you do anything else. If you become a habitual giver, you won’t have to deal with greed….