Are you a good money juggler? The word money juggler comes to mind when I see a person who has a job, has consistent income, and has debts and some more debts. Yet the person is able to keep himself above-water, managing to juggle his money or finances to ensure everything run smoothly.
Example of a money juggler
For example, letâ€™s say we take a person and named him Ed. He works with a computer shop doing marketing, sales and technical support. He is happy with his job. He rents an apartment and is still paying off the balance of his car loan.
The bulk of Edâ€™s money goes towards rent, car payment, car petrol, food, personal insurance, utilities, gym membership fees and entertainment. The highlight of his work week is the weekend which he likes to spend with his friends or girlfriend. The good thing about Ed is that he consistently saves 10 percent of his take-home pay. The rest of his income is all spent off.
When an emergency crops-up, like a visit to the dentist, he does not touch his savings nor does he cuts back on his 10 percent monthly savings rate. He has learned to juggle his money and instead cuts back on his weekend entertainment or eat simply for a week to cover the cost of the emergency.
I'm a money juggler too
Sometimes I do this with my spouse with regards to the family finances. Whenever there is an unexpected expense like having to replace a broken air-pot or water-pot, we juggle the finances between us to cover the cost. We could also take the needed money from the food or entertainment budget. We could have taken the money out from the emergency fund but this takes out the fun of juggling our money.
I would say the best time I had learning about juggling money was during my university days as a student struggling to survive on a limited budget. I believe everyone has had personal experience when it comes to juggling their money. What is yours?
Note: Before I sent this article for posting, I gave it to my spouse to read. He said the article portrayed both of us as a stingy couple. I reminded him that stingy is a negative word, instead I prefer to call it being frugal and living within our means or even optimizing our family budget.
Read other articles by Jacquelyn at WParent.com on parenting matters and Tips4Everyone.com on solving marriage problems.
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