Become a Money Magnet | Budgeting

By ArmanVakili
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Word Count: 357

The game of money is very similar to anything else that we experience in life. If you want more of it, you have to be able to show that you can handle whatever it is that you've already got. Unless you can prove this, you will not be able to get any more.

In order to handle whatever it is that you're currently making, you need to have a very simple and manageable budgeting strategy. This will enable to categorize all of your spending habits and see in which areas you can "cut the fat" and make the most of your current income.

The main purpose of your budgeting strategy should be to pay yourself first. Before you make any bill payments, before you start spending your money on leisure items, you have to put a certain amount of money away for your future. The default figure is 10% of any income that you make.

Do this with all of your income; even your retirement income. When you get your retirement disbursements, save 10% of that money too. If you do this, you will find that you will never run out of money.

For the average American, 10% of their income doesn't appear to be much money. You will notice however that this money can accumulate to a very large sum if you put it aside consistently and have it work for you on compound interest.

Having 10% less to spend is something that you will need to get accustomed to. It will feel a bit uncomfortable towards the beginning but after a short while you won't even notice that you are putting that 10% aside. You will learn to adjust your spending habits to match your new income level.

Having and consistently working your budgeting strategy will place into effect one of the most powerful natural laws of our universe: The Law of Attraction. It is this universal law that will help you to attract more money into your life.

Not only will you be earning more money because of the compounding interest, but the Law of Attraction will cause the universe to show you more and more ways of creating more income.

About the Author

The primary act towards financial freedom is to learn effective budgeting. The second key is to learn ways to make your money work for you

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