Have you ever felt like there was more month than there was money? I sure have felt that way before. I learned years ago that it wasn’t that I was unaware of my major bills, but that I was taking some of the smaller bills(that add up by the way) for granted. Actually, I wasn’t running out of money, but for the amount of money I was making, I didn’t really have anything left over at the end of the month. It’s easy to do when you are in a well-paying position. But a life experience, with whom I will just call an angel, really made me take a hard look at my finances.
If your dollars aren’t stretching til the end of the month, the problem may not be found in what you are aware that you have to pay, but what you are unaware of or possibly overlooking. You know, the small bills that can easily be taken for granted.
Take for instance the gas you put in your car. May not seem like a big deal but it is definitely something you need to get to work, take the children to school, or simply running errands during the week. Unfortunately , our cars won’t run on air.
* If you are spending between $30 to $85 a week to fill your tank in gas that is easily $120 to $280 that you spend every month that needs accounting for.
*If you eat out every day of the work week for lunch, and spend between $7 and $20 a day, 5 days a week, that is easily $140 to $400, continuously each month(that’s a bill). It needs to be considered a monthly expense.
*In the world of entrepreneurship, you might be overlooking all those small fees it takes to run your business, like your website fee for $7-$20 a month , or something like Hoot-suite $15 a month, Mail-chimp $15 month. You get my point! These are monthly expenses that come out of the income that you have each month in order to do business. They are an expense.
Maybe your thing is that you make great money, but you use your credit cards , or acquire debt to support your lifestyle. What ever your money matter is, here are a few things I begin implemented years ago and you can try as well to begin minding your money:
#1 One of the first steps of minding your money is to figure out exactly where you are with your money.
~Where does your money go every month?(What do you spend your money on)
~ How much money do you need to make it happen throughout the month?
#2 Plan ahead.
~Some of the best deals are the ones that you get early. Many things you plan, like trips or things you need to buy, if you are planning ahead of the time, you have ample time to research different pricing and options. This gives you a chance to value shop. If you wait until the very last-minute, where you have no choice but to get the item, you’re stuck with paying the price regardless of what it is. Planning ahead helps to cut rushed, over priced purchasing.
#3 The Process of Elimination
Begin getting in the habit of asking yourself, “Do I really need this”, when you are in a situation to buy things. Get out of the habit of buying small, nick knack things that you really don’t need and don’t have to have. Instead, use that money to begin paying off the smallest debt that you have. If your goal is to become financially free ,one of the biggest steps is debt freedom. The only way to become debt free is to cut as much operating costs you have each month without decreasing your income or value, or to create more revenue to pay off old debt.
These are three steps that I became conscious of doing when I wanted to one, become debt free, and two, begin saving money towards a major goal. You”ll be surprised at how much money you can save by eliminating debt and putting small amounts of money away towards goals or things you want in the future. Don’t take for granted how small the amount of money you are saving is. Over time, that money grows and continues to grow, and you become financially free! Try practicing these three steps and start #mindingyourmoney.
From my experience to yours,
Tanya Wilson-Cherry
Consultant to stars like you and everyday people walking out this jewel called LIFE!
renewfullcircle.com
theteamfullcircle.com
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