Let me start by asking you to add up ALL the MONEY you have made so far in this lifetime. How much do you have left? Where did it all go?
They can teach you to put a budget together until the end of time. People have been budgeting for centuries. The issue is…a budget alone does not work.
84% of people who budget, spend beyond their budget. The problem is CONSUMPTION! You can budget all your money until you are blue in the face, but if you do not get your consumption under control, no budget will help you.
Only having a budget creates what I call “Money Dissociation.”
A budget is rear-view financing. You look at it at the end of the month and you either stayed on budget, 84% unlikely, or you didn’t.
You want to follow your budget, but life just seems to get away from you. And yet you continue of this path that we have named “LIFESTYLE CREEP.”
Make more, consume more, make even more, consume even more. Now you are making more money but still living paycheck to paycheck.
Let’s start a new path for you and your money.
1. BUDGET - WHAT! You just told me a budget doesn’t work. Now I’m confused. Okay stick with me and I’ll explain. A budget by itself does not work. As I said earlier it is rear-view financing. So create your budget 1st and we are going to add the necessary steps moving forward to get you to a totally new place in life with money.
2. SAVINGS - Put an amount in your monthly budget so you accumulate, as quickly as possible some “safety-net savings.” Your first goal is that 3-6 months of money is needed to see you through an unexpected event. BUT…IF you are a business owner or a commission salesperson with an unpredictable income cycle you need, in my opinion, at least one year saved.
3. TRACKING - This third step is the ONLY way you will get it pulled together. It’s called TRACKING. This is forward-looking financing. You track every dollar you spend in each and every category of your life. Now before you get all fussy…relax I have found that my clients only take about 15-20 minutes a week to do their tracking. And…ISN’T a life of FREEDOM from financial anxiety worth 15-20 minutes a week?
Here’s the POWER of TRACKING! TRACKING helps you to hold integrity with yourself. With what you truly want from life.
TRACKING will change you forever. After just tracking their first month, my clients say things like:
• “There NO WAY I can be spending this much Money!”
• “I thought I had my spending under control. I’m annoyed, actually a little pissed off to see I have been kidding myself all these years about my budgeting expertise.”
• “Why couldn’t I see this before? I had no idea!”
• “Holy crap…I spending hundreds of dollars on subscriptions I don’t even use.
• “I’ll admit I didn’t like tracking those first few months, but NOW, I’ll never stop tracking. It has shown a light on my spending habits and changed my relationship with money forever.”
The biggest mistake with budgeting is not having all your categories in your budget. This is where TRACKING becomes your best friend.
Never again will you not know where your money is going. And even better IS…your spending starts to strategically align with the things you truly want in life.
Money is great, what you do with it makes it a helper to your life or a burden.
Getting consumption, your spending, under control by TRACKING in order to stay on BUDGET will get you where you want to go.
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Thanks for watching. Small changes can lead to big improvements. You don’t get to live life without dealing with money. Remember growth is a choice!
DebraSavage.com and Your Money Sweet Spot, LLC does not guarantee any type of specific results, outcomes, changes, or gains through use of the services, the program, and program materials. Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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