FMOOD 0227: If You Can't Measure It, You Can't Manage It - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.

If you can't measure it, you can't manage it. This is a quote that I heard recently, and it really hit home for me. I know that I keep a pretty strict budget, and I review my budget periodically and make changes as needed, especially if we overspend in a particular category.

 

Even with that in mind, I realized that we aren't getting as granular as we should be with this. There are plenty of times when we've probably purchased items in a given month that we didn't need to purchase. We also pay interest charges on credit cards, and it's easy to forget this because we aren't actively purchasing something. The interest charges that hit our credit card will still need to be paid back, so we really should be adding this into the equation of how we measure the outgo in any given month.

 

Knowing more specifics on how resources are being spent is incredibly crucial to how we manage our personal finances overall. If we ignore certain expenses, especially those that go unnoticed, it will hurt our ability to best manage our situation when it comes to our finances.

 

It's time to get granular. It's time to track every nickel, dime, quarter, and penny. It's time to know what's going on financially each and every month, including hidden charges, fees, and interest charges on our credit cards and loans. It will help us to effectively manage as we need to, and it will only help us to become better at this whole money management thing.

 

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