6 ways to manage your money like a grown up

Ever felt like managing your finances is a skill they forgot to teach in school?

You’re not alone.

Having to ask your friend for that $10 he owes you from 3 months ago isn’t just annoying… it’s embarrassing.

Managing your money isn’t something you’re going to learn in school, you need to educate yourself.

Here’s 6 things you can do to get a grip on managing your money:

1. Track Your Spending: Start by logging every expense you make. If you use Notion for this you can categorize your expenses and see what your money is going towards. If you have never done this yet then give it a short for a month and you might be surprised.

2. Set Realistic Budgets: Based on your tracking, create a budget that's realistic and manageable for each expense source. Allocate funds for essentials, savings, and yes, some fun money too!

3. Save your money: Saving isn't just cutting back, it's planning for the future. Start small if you have to, but start. If any of these sounds boring, then just think of it as building your financial discipline, you’re going to need it.

4. Invest Wisely: Investing can be intimidating, but it's a vital part of having your money work for you. Do your research, dont gamble, and gradually diversify. A quick way to know what to invest in is by asking, will this exist 20 years from now and if so, how valuable will it be? The answer to this question is usually a good indication if you should invest or not.

5. Plan for Emergencies: Life is unpredictable. An emergency fund is your financial safety net. Aim to save at least three to six months’ worth of living expenses.

6. Educate Yourself: Knowledge is power when it comes to money. Read books, listen to podcasts, attend workshops, and learn from those who actually has a lot of money and knows what they’re talking about. And then the natural next progression is learning how to make more money, but even then you’d need to understand and practice the basics of managing your money before you can handle more.

If you need a system to help you along this journey then be sure to grab my Notion Finance Tracker to manage your income, expenses, and subscriptions all in one space with a overview for how you’re doing for the year so far.

Money is a very important and integral part of all our lives so better you learn how money works sooner rather than later.

Anyways, that’ll be all for today. Hope you gained some new insight :)

See you next week.

Cheers
Chris

P.S. Remember to grab your Notion finance tracker here.