How do you manage your money????

Do you know how to manage your money, or to use it more efficiently? Currently, financial management is my biggest management problem. As I mentioned in my first blog entry, I like shopping and eating. Every month, when I get my salary, I will spend large portion of it in the first week. I don’t think too much; just spend it whatever and whenever I want. I also use credit card to purchase my needs. Due to the non-cash payment, I don’t realize how much money goes out of my pocket until I receive the monthly payment statement from the bank at the end of the month. When I see the huge payment, I don’t even know what I spend and how I spend that much money. So every month, when I first get my salary, I pay my monthly payment first, and continue to spend the rest of it in a same way as I did in the previous month. I know this kind of behavior is not good, but I it is hard for me to avoid it.

I remember in our first two lectures, Professor mentioned that management involves four basic processes: planning, organizing, leading, and controlling. Maybe I can use these four elements as a guide line to improve my financial management. First of all, in my planner, I start to write down every single purchase, including the snacks. At the same time, I organize things which I wrote down and record how much money I spend and how much money I hold on my wallet at the end of every day. This planner leads me to use my money more efficiently. In addition, it is better for me to control my behavior on spending too much money on some unnecessary things. I don’t know how this work, maybe it works and I will save much money in my accounts, or maybe there is a better way of solve this problem. If you are reading this article, if you have same situation as me, or if you have a better way of solving this small financial management problem, please feel free to let me know, help me out. Thanks.

^-^ Nice to meet you ^-^

Hi, everyone, my name is Huixian Lin. I am from China and have been in U.S. for four years.
I like hanging out with friends, making new friends, watching movies, listening to the music, shopping, eating, traveling around, and etc. Sometimes, I do day-dreaming, O(∩_∩)O

I believe all of us are manager in somewhere. Just as Prof. Kurpis said, we manage our time, finance, the relationship with other people, and personal issues. I am a manager of my life. I was raised by my grand parents. My grand father was a clerk, and he was the first teacher in my life. He taught me the basic morality of human life, and many more things that influence my life. I remember once, it was Friday night, my grand parents asked me to go to the church with them. I told to them I wanted to stay at home and finish all my homework at that night. Suddenly, my grand father walked closed to me, and talked to me in high voice, “finish all of these at once? Even though you finish all your homeworks, they won’t be done with high quality.” That was the first time I realize the importance of being a good time manager. My grand father taught me we have to manage our time well, distribute our works, and do them systematically.

Right now, I am a upper sophomore. Time does not allow us to do things whenever we like to do. College works, job pressure, and peer pressure all come to our life. If my grand father was still alive, he may teach me how to handle these things well, but I believe every problem has its own solution; they will be solved on someday. We have to manage our life by ourselves.

Nice to meet you all, and I hope in this little space, we share our thought toward the concept of management. Maybe after this course, we will have a better idea of what and how a good manager is, not only in a business world, but also in our daily life.