Donell Edwards, Blogger
About Donell Edwards: Donell Edwards is President of CWR Media and is also founder and publisher of The College World Reporter (CWR) magazine and CWR World News & Information Service. He is also a professional speaker, freelance writer, and entrepreneur.
Know Your Money
Monday – July 21, 2014
Knowing Your Personal Finances
Monday Morning Check-Up
By Donell Edwards
For many people Monday is one of the most difficult days of the week. For some it signals a return to the hustle and bustle of work and their daily routine. Just like part of the lyrics from our theme song for today, “Monday, Monday,” from The Mamas and the Papas says: “Monday, Monday, can’t trust that day.” It is sometimes referred to as “Blue Monday” because of the challenges and uncertainty of starting a new week, or the return to reality from wherever we escaped to over the weekend.
But for you, who have chosen to take control of your personal finances, get out of debt, and start making money with your money, Monday should always be a day to evaluate where you are, to reaffirm your commitment to make whatever changes are required, to be willing to sacrifice, and to develop the discipline and self-control to stay on budget, constantly monitor spending, continue to pay down debt, to start or continue saving, and to build an emergency fund.
Hopefully, you are making progress. Remember, it takes time to change behavior and habits, so be patient, but be vigilant.
It is also helpful to understand the purpose of working toward a goal. What is the purpose of getting out of debt? Is it really necessary? In what ways will you benefit directly? These an other questions will be answered in our upcoming special issue on debt. Watch for it in a few days.
Monday, Monday, I hope it is all that you hoped that it would be.
Have a great day.
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Disclaimer: I have a Bachelor of Business Administration degree but I am not a financial adviser. However, I have acquired years of knowledge about personal money management through my life experience working through my own personal finances that allows me to share that knowledge with readers of Know Your Money. The Know Your Money Blog posts written by me are my own common sense observations and opinions and are for informational use only. Although my blog includes contributions from experienced financial professionals, please make your own financial decisions based on personal research or contact a financial adviser.
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