I’m a huge ABBA fan.
That statement alone is enough to make any article complete, but I have a few more minutes to write before my laptop battery dies, so let me expand. One of ABBA’s biggest hits was a song called “Money, Money, Money.” In the song, the singer is upset about their current financial position and is dreaming about marrying someone with money to make their life better. (If you recall my article about the lotto a few months back, even I dream about having more money.)
While marrying someone rich or winning a lotto might make our days “Always sunny,” it is more likely that through practical financial planning that we will be wealthy (or at least wealthier) as we grow older. So what is financial planning? In short, it is looking at how much you spend compared to how much you earn. The less you spend, the more you can save. With the money you save, you can invest in different ways to grow your nest egg while protecting your financial future. Much of this can be done by simply balancing your checkbook, using financial advisory tools from your bank, or even using a free budget planner online.
However you choose to track your spending and savings is up to you. By simply seeing where your money goes can help you make smarter financial decisions. The same holds true if you run a website and wish to make money off of it. If you are earning less than what your are spending to run it, then you are on the wrong end of the business (financial) spectrum. You can always look for hosts that offer lower rates or seek out better working relationships with your advertisers and sellers.
As the song goes:
I work all night, I work all day, to pay the bills I have to pay
Ain’t it sad
And still there never seems to be a single penny left for me
That’s too bad
If you find yourself in that position, examine your finances and see what you can do to have more at the end of the month. The economy is tight right now, but it will get better. The improvements you make to your spending habits now can definitely help you win the future, and hopefully that will leave you with “Money, Money, Money” by the time you retire.