Now, over the last 25 plus years I’ve dedicated my career to helping people to succeed with money. Contrary to what most people would think, people who succeed with money are often on modest incomes and they rarely LOOK wealthy. They spend less than they earn and they save and invest consistently.
On the other hand, people who LOOK wealthy often are using debt to make themselves look that way. They may have high incomes, but they spend more than they earn and they are stressed and don’t know how to fix the problem.
They often have the belief that they just need to earn more, and more, and more, money to get away from their money stress but every time they earn more, the money stress does not go away.
During the Global Financial Crisis Warren Buffet, who is one of the world’s most successful investors, made the classic comment… It’s only when the tide goes out that you see who has been swimming naked!
There were more luxury cars repossessed at that time than at any other. He was referring to all of the people who used borrowed money to make themselves look wealthy, but who were in debt up to their necks and it only took one unexpected financial tremor to send them crashing.
It may seem boring and rather unexciting, but creating a spending plan for your income that allocates a regular percentage of your money to savings and investing, to holidays, family activities, to modest living, and to cover your bills and your longer term replacement costs of things like cars, refrigerators, washing machines, stuff like that, and then following that plan day in day out, year in year out, will put you so far ahead of people who are always looking for the next big thing, and it will lead you to a solid and comfortable life right through into retirement and beyond. Read the book, The Millionaire Next Door if you want proof of what I am saying here.
Through my work, I’ve helped thousands and thousands of people to take control of their day to day finances and I can tell you that this is the key to success with money. Get the day to day right, and the rest is so much easier. A very old adage goes like this. Take care of the pennies and the pounds will take care of themselves. Or in another currency. Take care of the cents and the dollars will take care of themselves.
Creating a Spending Plan is one of the absolute best ways to take control of your money so you can get more of what you really want out of life. Slow and steady wins the race, just like in the race between the hare and the tortoise.
Take Control of Your Finances
If you can take control of your spending by making some of the little changes above, you'll put some breathing space between you and your money stress, allowing you to relax and start building a stable financial future for your family. How many expenses do you accept in your day without question, and where could you reduce your weekly outgoing money just by changing a few habits? If you just can't get your head around that and/or you are tired of money stress and have decided it's time to take control, talk to a Spending Planner to find out how you can break the cycle. BOOK A FREE CALL
You have nothing to lose and lots to gain. Spending Planners are non-judgmental professionals who are trained to help. A short relationship with a Spending Planner will provide you with tools and training that will benefit you for the rest of your life!
To find out more about becoming a Spending Planner, CLICK HERE
Creating your own personal Spending Plan will be one of the best things you ever did.