One of the reasons why we fail at managing our money is because quite often we do not plan to spend money.  Now, to that you may say, it’s my money, and I will do what I want with it.  I worked hard for it and it’s okay to spend it.  And you are right; it is okay to spend your hard-earned money.  But before you spend that money, read the rest of this. 

If you really think about it, money is only good for three things, and we have all done them. 

Money is good for:  spending, saving, and giving, that’s it.  All the things we do with money can fit into these three categories.  So, it is okay to spend your hard-earned, worked for, money; all I am saying is to plan to spend your money.

So, what happens if you do not plan to spend your money?  You spend money at places and on things that you did not plan to spend money on.  It’s that simple.  Have you ever gone into a store and spent more money than you planned to spend? 

That’s it, it happens every day. 

When we do not plan to spend our money, we allow others to take control and spend our money.  You are not managing your money effectively because you are not planning to spend it.         

When you go to the grocery or the pharmacy and you get to the checkout, do you plan to buy that magazine or that candy bar?  We are visual beings and if we see something we like most of the time we will buy it. 

You may think that that is not a lot, but if you do this every day, that is buy something that you did not plan to, it adds up.  Let’s say that in an average month, you spend $5 a week on magazines and candy bars at the checkout.  It does not seem like much but over time it grows. 

Five dollars a week works out to be $20 a month and, in a year, you spent $240 on candy bars and magazines or whatever.     

So what happens if you plan to spend your money?  When you plan to spend your money, you have a spending plan or budget, and you know where you are spending your money.  You know how much money you are spending, and you are not haphazardly spending money on things and in places you did not plan on. 

When you plan to spend your money, through your spending plan, you are telling your money where to go and what to do.  You have complete control of your finances. 

We have already established that it is okay to spend your money, so it is okay to spend $20 on magazines and candy bars. I just want you to plan to spend that $20 on magazines and candy bars. 

It is important that you plan to spend your money.  When you do not, you give control of spending your money to others.  When you plan to spend your money, you take control of your financial situation.  The choice is yours – choose to plan to spend.