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The number one biggest mistake people can make around money, is not managing your money
This can sound anything like:
– I don’t have any money to manage
– managing money is not ‘my thing’
– I am not interested in money
– managing money drains me
– I manage it very well, it just disappears….
Saying: I will manage it when I have it is the same as saying ‘I will go on a diet once I have the perfect weight’
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If you don’t manage your money, it will not stick with you.
We have all heard: what you give attention grows.
Suppose you tell your partner: I am just not interested in spending time with you…..
How long would they stay around?
My guess is: 5 minutes, MAX!!!
My guess is, that if you don’t manage it, you probably just don’t know WHAT to manage or HOW to do it.
Or, you have never learned WHY
Thing is: everything you don’t manage gets cluttered.
Don’t manage your household? clutter all over!
Don’t manage your staff? problems all over!
I hear so many people say: I will manage it when I have it.
Fact is: you WON’T!!
If I have a million, I will give it away to charity…
But, if you don’t even give the dollar you have now, what makes you think you would give 100.000 once you earn a million?
I used to think ‘I feel what comes in and what I can afford, and more or less know’
Once I checked, to the last penny, I learned that every month I was losing a little bit more
Not a substantial amount, but over 2 years I lost a LOT
More than most people would like to know
So, how to manage it?
Divide your money over jars, and let the jars rule your expenses.
The ONLY way to get more in the jar, is to increase your income
My jar system:
1. Financial Freedom Account
3. Saving for long term saving and spending
Divide your income as soon as it comes in, and start letting this rule you.
When I first started this, I could;t put any money into the 5 jars.
So I started dividing one dollar every month.
Just to create the habit.
I bought a piece of chewing gum for the play jar. Or an ice cream, cup of tea, coffee.
When I started, I THOUGHT I didn’t have any money to divide. I thought it was all ‘necesseties’. Until I really looked into my expenses.
I cancelled my coaching -which felt like a necessety, but really was an education piece- and committed to growing the edu jar first, and did the same with all my other expenses.
I gradually increased the percentages over all jars by increasing my income.
Do you want to know how good you are at managing your money?
Go over to suzemaclainepont.com and take the test!
Find out today, and start!!
Next week will be about Mistake 2: thinking that money will solve your problems.
Stay tuned and have an awesome week!