Sunday, April 7, 2013

Where Did My Cash Go? The Secret to Financial Abundance

It happened to me not to long ago as I'm sure it does to many of you. I left one thing off of my budget. Actually, it was there but during that busy week, I got lax and let myself not look at the budget...Big mistake. When it came due, it caught me by complete surprise, emptied my spending money allotment andcaused unecessary stress and bad feelings about myself. My pride in my accomplishments in other areas plumeted. How could I have let that go? How could I have been so irresponsible. Luckily when a mistake happens, I snap into shape and make sure it won't again and so can you.
I looked at other budget struggles. I had messed up in other areas too. I'd let myself impulse shop - the true killer of financial freedom. What I should have done is made note of what it was, looked at the overall budget, my overall decorating plan, food plan, goals, vacations, etc and decided if it was truly a wise expense. There is nothing worse than realizing you gave up a vacation because you couldn't control your desire for a few hamburgers...hamburgers you could have planned into your menu and still had the vacation at that.

So here's what you need to do.

Get a little pocket notebook.

At the top of the first page, put your present balance.
Every expense you must pay or are saving for, list beneath.
Then total the remaining balance (after subtracting EVERY bill)  and divide that total by date (total divided by number of days until your next pay check) This is your spending money today. Is this purchase worth it? Truly? Or would you rather something more. Decide on the other and leave.

When you feel the urge to impulse shop, pull that little notebook out. Keep it with with you at all times.
You will have to face the reality of what you truly have and are saving for. That reminder should be enough to stop the impulse. It would be better to plan it into the next weeks budget than purchase without a plan now.

You can do it ;) And you will be so much happier because you did.

Much love,

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