There ain’t anything in life that is free. Nowhere is the truer than with Personal Bank Accounts. Whenever you move money through bank accounts the bank will peel just a little bit of it off of the amount moved. It doesn’t seem like much at the time. However you need to examine bank account costs in 3 ways so that you understand the importance of managing your personal bank accounts diligently.

In the first box in the illustration below, the header says "Budget Surplus...Spend less that you make. Cut your spending until you have a monthly budget surplus." There are two ways to cut your spending. One is to control the spending that you already engage in. The other is to renegotiate some of the debt that you already have.

I was going to include a questionnaire as a way to show you that you need to improve your capacity to THINK YOUR MONEY. However the first person that you will lie to about your competence in personal financial matters is yourself. In fact when dealing with personal finances people take lying to a whole new level.

The goal of this plan is to use the financial tools to manage your cash flow so that you can live comfortably, buy a house and own it in this lifetime. You will plan to have enough money left at the end of your working days to support your comfortable lifestyle into retirement.

Personal Money Management

North America is a continent of immigrants. Just about anyone who lives on the continent can trace their ancestry to somewhere else. I don’t have to go through history to cite examples as you already have some in your head. Most of these immigrants arrived with little or no money. Most had little education and most did not know English when they arrived. They had few if any friends and only the most basic jobs were available to them. They took the bottom of the status ladder jobs such as construction labour.