If you are like most people, having enough money for a decent and secure life is one of your major concerns. Those on paid employment may be especially worried about the rising costs of goods and services in our country today. The threats of unemployment or job loss and business failure also cause us to panic everyday. Maybe you are a single mother with several children and in great danger of falling under the poverty line. What will you do about improving your financial situation? Or you are deeply in debt. How will you make your payments and become debt-free? Or you are unemployed with the responsibilities of your sibling’s upkeep. What hope do you have to survive?

Reasonable prosperity is something all of us would like to achieve and hold on to. But, in many developing nations of the world, many people face financial problems. The things that most people in the developed nations take for granted — automobiles, electronic gadgets, savings accounts, adequate clothing and furniture — are out of reach for vast numbers in our country. Many developing nations face staggering poverty, vast unemployment and underemployment. People in such nations like Nigeria must think in terms of basic survival rather than financial prosperity.

To some degree, as your read this article, you will have to look over the shoulders of those who live in the well-off nations and who have an opportunity to improve their financial situation. Let us look at some principles that can help you become more financially secure.

First, Budget Your Money Wisely: To spend your money more effectively is the same as increasing your monthly salary. We may learn to be money earners, but can still end up as paupers. We have to become wise money spenders as well. Studies have shown that even those individuals that earn high monthly income still feel financially strapped. It seems that many people still spend above their income. There is never enough money for everything we might want or need in life. So we need a spending plan. A spending plan is a road map to financial security. A spending plan helps us arrive at our financial destination, safe and sound. Every business and individual must have a spending plan and must strive to follow it to the end. Such a spending plan helps us:

To live within our means. A spending plan gives us greater control over our financial resources. We can immediately know whether something we desire to purchase is affordable, important or not.

To spend money effectively. A spending plan helps us to ask the right questions about our money. Is this the time to buy this product? Is this the most economical way to buy it? Would we rather have this product than something else? Do we have the money to buy it? Does it fit in within our goals at that particular time in life?

A spending plan also helps us to balance the desire for present enjoyment with long- and short-term financial needs. Instead of buying now and paying later, we begin to think of saving first and then buying when we can afford it.

If you don't know where the money goes, you can't get it to go where it should.

Author's Bio: 

Prince Ben is a famous wealth creation expert, motivational speaker & investments consultant who helped individuals and business organizations achieved reuslts in business, life and family. Get free e-books and secrets at www.princeben.org