Money, Money, Money… 

In this day and age money is a necessity to live.  Food and shelter requires moula.  Most people learn about money and how to manage it through trial and error.  Money education is lacking in school so one must learn how to manage their funds on their own on a continual basis.  

How to be resourceful with money starts with your mindset

• • Mind over Money

Where do your beliefs about money come from? 

What do you think about it?  Do you feel there is plenty to go around?  How do you feel when someone buys you a cup of coffee?  How do you feel when you lend someone cash and they “forget” to pay you back?  I have a friend that still talks about lending someone $4.50.  She is hung up on not getting paid back.  Where do you think her money mind is? Is it coming from a place of lack or wealth?

Do you think the amount of money one has or makes is what makes the person?

Work on your mind.  

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• • Be aware of what you spend.  

I must say I extremely dislike the word budget, but I also pay attention to my bills.  I know what’s coming in and what’s going out.  When my kids asked for treats from the ice cream truck or bought soda from the vending machine at school, I pointed out to them we could buy a whole pack from the store and save 50-75%.

What are you spending cash on that you can be more efficient with?  That $5 latte you buy five days a week adds up to $25 a week, or $1300 a year.  Now I’m not saying don’t get that latte, but know what you’re spending your money on.

Take a notepad and write down everything you spend on in a typical month.  Review your notepad and trim what you want. 

• • Have an emergency fund.  

An emergency fund not only serves a purpose when something unexpected comes up, but think about how it makes you FEEL knowing it’s there.  Do you feel a little more secure?  Do you feel like it’s burning a hole in your pocket?  Get in touch with your feelings, address them and you’ll be more equipped to handle it.

• • Pay down your debt. 

As you may have heard there is good debt and not so good debt.  Credit card debt with high interest rate does nothing for you if you can’t pay it off every month.  If you have high interest loans or credit cards, make a plan to pay off a little more than the minimum.  Start with the lower balances.  A $500 credit card can get paid off faster and easier than a $5000 balance.  When one card is paid off, roll over the payment to the next lower balance and soon you’ll be well on your way to being debt free.

• • Make more money 

Of course who wouldn’t want to make more?  But what can more money do for you?  Pay off that debt faster… Have freedom from a job… Pay for your kids private school or college… Have a nice house… What can more cash do for you?   

• • Have your money make work hard for YOU

Leaving your cash under the bed or a low interest savings account won’t grow very fast.  Shopping for video games, cars or clothes is like setting it on fire.  These things won’t build or grow your wealth. 

There’s plenty of ways to get a higher return on your investments.  Investing in stocks, real estate, a business are just a few.  Learn how to make your money work for you, instead of you working hard for it. 

Don’t turn a blind eye to money.  There’s plenty of tools and education available to everyone.  To become successful, you should learn to be more about being resourceful with your money and soon you can be financially free.

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Debi

Create A Business To Love

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