The necessity of money can fulfill you and destroy you at the same time. There’s a fascination around making money which leaves little room to hone knowledge about the various aspects of using those wages. We’re taught early on to seek a well-paying job to make a good living, but rarely are we informed of the ways to actively be resourceful in how we handle the money earned.
Today, we chat with financial coach Chris Peach about ways to take the guesswork out of money management. He shares his story about how he and his wife built a successful life making good money but eventually fell into debt. They had to sit down and map out where they went wrong to decide where they needed to scale back. They created a system that helps you calculate what you’re spending and keeps track of the funds you have available. It’s a budgeting tool cited as the cash flow plan. The great thing about implementing this method in your daily routine is the transitional steps you can build for better money habits.
No matter what money mistakes you’ve made, there’s always room to start fresh with a renewed understanding of your learned behavior. You are capable of ending the cycle of bad money habits; maintain a clear outlook on what your future life looks like. Start where you are and collaborate with your spouse to set your goals. Figure out what’s important to you and your lifestyle to better understanding your why. If you envision the path for your future, the planning process becomes easier. When you can physically see the amount of money you spend, it heightens your awareness for what’s worth your coin (paying with cash, keeping your receipts). Every dollar should have a purpose. Nothing will get fixed overnight. Take it one step at a time and reward yourself for the small wins.
“What gets measured gets managed.”
Today’s Love and Money idea:
- When money issues arise, it is not a competition of who’s to blame for what. This is the time to have a detailed conversation about how you got to a certain financial status and work together to get back to a livable means.
- If you are responsible for handling the finances, share what you know with your spouse. Ensure that they understand and have access to how much money is available, any account information, emergency funds etc.
- Educate yourself about any life skill you weren’t taught. Money is a major topic that shouldn’t be taken lightly; it is essentially used for our everyday needs. There is valuable information involving money that can help you prepare for better decision making for your assets.
- Your dreams and goals can align how your finances should be spent. Knowing what you truly want out of life will adjust your financial priorities and help you stay on track with your future plans.
“They” tell us we need will power to eat healthy, lose weight, or even save money. But where do you get it? Will power is like common sense, it’s just not readily available. It should be, but it’s not. How do you FORCE yourself to stop eating, doing, or buying something you love? In this 5-Minute Activation I give you the replacement for will power by asking 3 simple questions to help you find it.
Featured Resources 1:
Want to make your cash really flow…try this free resource
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Watch your money grow with the flow…
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Do you make good money but still feel broke sometimes?
Does it feel like everyone else is on the path to happiness without you?
Want help building your easy to follow Prosperity Plan that will get you on the path to happiness?
Here are two ways to join:
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