Now is an excellent time to develop the habit of managing your resources rather than allowing them to manage you. What exactly do we mean when we say, “Your money manages you”? Here’s an obvious example:

“Because there are more months than money, any new purchase, trip, or splurge will have to wait a month or two, if not forever. You’ve chosen to postpone and pay later, exacerbating the problem and putting your perceived lack of resources in control.” Here are some tried-and-true methods for making financial gains a realistic goal by repositioning and changing spending habits while gaining more control of your situation so that you have more resources and time to spend with friends, family, or loved ones.

Time is one of the most overstated, undervalued, and easily accessible resources. When used consistently, effective time management is a critical component of making financial progress. Even spare time moments used wisely contribute to steady progress when combined with any of the following:

• Make an investment. Based on your risk assessment, the best type of investment program for your personality type and financial situation is determined by doing your own research, meeting with a financial planner, or inquiring through a brokerage. Purchase examples include stocks, mutual funds, bonds, money market funds, annuities, and so on. Because these figures will fluctuate, schedule a time to review your portfolio on a regular basis to track your progress. With proper selection and combination, your return on investment can be substantial or relatively consistent.

• Invest in real estate. Purchasing real estate is another kind of investing that may be used to generate a financial gain, and the value of the property can be increased by making modifications once it has been purchased. Not only will you save money by making consistent payments toward the purchase of real estate, but you’ll also be able to accumulate ownership in the property at a quicker rate and with only a very slight increase in your monthly payment amount if you pay it off wisely.

• Take classes, pick up a hobby, or learn a new skill. How do you spend the majority of your time? Do you squander valuable time lamenting self-pity, bad luck, or a bad set of circumstances? Will you take active control of the situation?If there is an interest there is a class for it. And now that there’s the internet taking a class is just as easy as leisurely clicking a link. There are many available classes that are free, or via email, and some that may cost a bill or two to enter a site. Or if you’d prefer, take a class at local colleges or universities which offer that immediate one-on-one support available through that type of arrangement. Your local library or museum may schedule classes or speakers covering a variety of subjects, too. Some locations even award certificates after completion if that is your requirement. Increasing your knowledge or skills over the long term not only provides confidence and mastery of skills developed by use of what is called putting in your “sweat equity” by taking the necessary courses and steps, but it will also provide flexibility by creating for you a new source of income using your newly developed talent(s) or expertise. You may offer for a fee a service, provide a product (or product line), to sell your knowledge or in any of the combinations listed through your choice of method at a profit giving you unlimited possibilities. When used separately or together the above suggestions work effectively over time giving to you the increase that you’ve longed desired. Use your spare time moments to work for you effortlessly and automatically…even with family, friends, or loved ones.