Why do you struggle with money year after year?
It is because you do not have a clear goal or intention for your money, so it is spent on anything that comes up or that “shiny object” that you want in the moment.
Do you find yourself living from one paycheck to the other or running out of money at the end of the month?
Or maybe you say no to a trip that you really want to go on because you feel that you cannot afford it.
2015 is your year to take control of your money and start making money work for you…Imagine the end of the month comes and you have plenty of money in your bank accounts. Imagine the next time your friend calls and says lets take a trip, you say yes because you know you have money to pay for it.
This is such an amazing feeling that I want you to have!
Here are a few small, simple steps that will get you to that exact place.
- Set financial goals, if you do not have a goal for your money you will spend it on things that you do not need. You must have a clear intention on exactly what you need out of your money every year. For instance, your goal can be to pay off debt, buy your first home, go on a family vacation, save for a business, etc. Once you have an intention and a goal for your money you will be less likely to spend money on things that do not align with that intention.
- Pay yourself first!! I am sure that you have heard this many times, but many people that I coach and work with do not do this. I love doing this is by putting 20% (or more if I do not need it at that time) of everything that I make into an account that is not attached to my debit card. This money is only used to invest in myself or my future. Investing in yourself can include things like starting a business, purchasing an investment or a home (if it makes financial sense). It does not include clothing, food, a new car or a bills. I promise after a couple months of this you will not notice the money you put away and you will be so surprised by how your money grows.
- Always have an emergency fund. This is not the same as paying yourself first. This is an account that you can use if you have an emergency, like an unexpected car repair, flat tire, unexpected bill, etc. My emergency fund is just my savings account that is attached to my checking account I keep $2000 in there and it just sits there. Having this account allows you to always feel that you can take care of something if you need to. If an emergency happens, make sure that you put the money back as soon as you can. Keep an amount that makes you feel comfortable. This will allow you to get out of the mindset that you do not have enough money! When you feel like you have enough, it is an amazing feeling!
These three simple tips will absolutely change your relationship with money.
Start now…write down exactly what you want with you money this year.
Next week I will explain more about how to make this work so you get your results 90% of the time.
Make it an amazing week, and please leave me a comment below.
Much Success & Freedom,
Elena J. Forbes