Money Matters

There are so many different schools of thought around money! Truth is, there's no one right or wrong way to save or spend money AND if you want to change your financial situation, it starts by changing your thoughts about money. 

MINDSET OF SAVERS:

• The security of having is worth more to me that having the stuff money can buy
• I want to earn interest on my money rather than paying interest to someone else
• I want to plan for my future
• The value of having money provides security for being able to handle any unexpected situation that comes my way
• I only count on the money I have in hand--I never rely on the next paycheck to cover my financial obligation
• Owing people money causes great stress. I avoid debt at all cost.

MINDSET OF SPENDERS

• The value of money comes only fron it's buying power
• If I have money in the bank or equity in a house, someone will take it
• If I need food, I need to hurry and buy enough to last until the next paycheck.
• It's fine to have debt as long as I know my next paycheck will cover it.
• Not having the stuff I need in hand causes stress.
• Paying interest is fine if I need something right now
• I take advantage of zero interest options over paying cash whenever it's an option

There's no right or wrong way to think of money. You get to make your own decisions and if it works for you, there's no problem!! You get to choose if you are a spender or a saver!!!

BUDGETING:

AGAIN!! You get to choose!!

Some people swear by Dave Ramsey and his envelope system to make sure the paycheck stretches from one payday to the next!

My technique is to figure out the least amount of money I can live on and I deposit the rest in savings. When I look in the bank, I always feel broke and am much less likely to spend.  Weird? Maybe...but it totally works for me!!!

GET ON THE SAME PAGE!!!

Whatever your mindset is, get together with your spouse, make a plan and stick to it!! If going on vacation is important to you, make a plan and start saving for it! 

If you want a new car, plan for it!!! Are you going to finance one or start saving for one?

If you are a spender and your spouse is a saver, make a plan (BUDGET) so you are on the same page and money doesn't become a source of contention.

REMEMBER:

Your electric bill isn't created on the day the bill arrives! It is acrued each time you turn on the A/C or flip on a light switch! Your cell phone bill isn't generated with each billing cycle, the money is spent as you go over your data, one browsing session at a time. 

CHANGE!!

The fastest way to change your money situation is to earn more money!

Examine your thoughts about money and see if your thoughts are generating the results you want in your life!

Think about money at the point it's being spend--NOT at the point the bill comes in the mail