How Much Money You Spend?

Do You know that, How Much you and your family spend each year for Food, Clothing and Shelter?

Most of the people in this world will answer this question –“No”. But most of the millionaires and wealthy people will answer the above question – “Yes”. Remember that I am not talking about Mortgage payments or car loan payments you make every month.

Most of the High income and low net worth (Upper Middle Class) people will say proudly that, they remember each and every important spending they make every month so why to worry about small expenses such as food, clothes and mobile bills?

And these people will also argue that, “I am saving tax by taking more mortgage loan so I don’t need to budget because after all I am saving tax at the end of the year.”

Well, these are just the excuses. Do you know that according to the survey in Millionaire households in USA, almost two-third households know exactly that where each dollar they earn every month goes?

I want to tell you here the importance of budgeting. It is very important exercise. Most of the people really don’t know that where do they spend money every month. One of my friend had blow 20,000 bugs last month and today he doesn’t remember that where did he spend this much money?

Now, this is very bad in the long term. If you want to be rich, financially free and wealthy than you have to plan your every expense. You should know that where every dollar you spend goes?

So it is advisable that, to become wealthy, you should know that how much you spend behind each and every category of consumer items?...