With all that is going on with the economy lately it seems all the chatter is centered on pinching pennies, going without, and stretching the dollar. I’ve been asked a lot lately about good ways to budget. If you follow my methods you already know that I don’t believe in budgets. They just don’t work.
I believe budgets are like people who go on “yo-yo diets” to lose weight. Yo-yo dieting starts out great but soon you’re at the end of your string. Same goes for money diets, they just don’t work.
If you’re not wealth healthy it’s time to go to the core of your money habits, learn the purpose of money, exercise your money muscles, and commit to a lifestyle where you control your money, not the other way around.
Let’s break this down…
What are your money habits?
How do you communicate with your money? Are you an impulsive spender? Is money a negative thought? Or is money something you fear?
Start to understand how you communicate with your money. If money is a scary thought you have to change your thinking. If you overspend you need to find out why. People often say things like; “Money is root of all evil”… the quote is actually “the love (or lust) of money is the root of all evil”. If you are thinking negatively about money, chances are your bank account reflects that same negativity.
Learn the purpose of money.
Once you’ve begun to think about your conversation with money it’s time to understand it’s purpose, how much do you need to sustain a wealth healthy lifestyle??
Exercise Your Money!
If you are thinking clearly about money you want to build up those Money Muscles! If you’ve got a problem with spending you need to be in resistance training. Once you get the hang of it you’re building your wealth muscles. When you’re paying down your debt and practicing healthy spending, doing what it takes to earn more money, and investing, your wealth muscles are very strong and will get even stronger. Keep building your wealth.
There’s good debt and bad debt. Do you know the difference? There’s ways to make more money… everyone has a marketable skill. Have you thought about that? What can you do today to make more money? Be in the cycle of continuous learning.
Stay connected with others on your same path. Create a network! Keep each other in line and focused.
Commit to the wealth healthy lifestyle.
Stay strong in wealth training. Be on the path to learning, generating, and creating healthy money habits and also understand your limits and or triggers for spending. Money is not supposed to run your life, it’s meant to accommodate and enrich your lifestyle. Commit to that thinking and you will be wealth healthy for life!