Managing a small income.

One reader has raised the issue of income being too small to manage. Can one’s income be too small to bother about proper management?

No. If you cannot manage a small  income, you cannot manage a big one.

Managing your income is planning and using it as planned. If you have one dollar and buy the first thing that you see, that will be poor management. You decide what is most important to buy, then buy it. That is good management.

Geting your priority with your one dollar makes you better than someone with one thousand dollars who  squanders it on beer while his priority is waiting for him.

Many great things start in small ways.

No matter how small your income may be, learn to manage it well. By the time a big one comes, you shall have mastered good management; and will thus, manage it well.

5 thoughts on “Managing a small income.

  1. I agree, no matter what the size of your income is you still need to learn to manage it and live within your means. When I was a student, I had a very lean income – well below what is considered the poverty line. Looking back, I have a hard time believing I managed to eat and pay rent with what I had. And I didn’t necessarily eat well, but I lived within the means I had at the time.

    That experience was actually a positive, because now that I am in a career I have a sense of perspective on money that I wouldn’t have had otherwise.

    They say you don’t appreciate what you have until you lose it. Well, going through a number of years where things were lean and I couldn’t do much has made me much more appreciative of what I do have now.

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