Unmute Your Money
They say, “Talk is cheap…,” but it is also a universal rule that, “Money talks and it talks loudly.” What would the way you spend YOUR money say about YOU?
Below are five ways to help budget your money and unmute what it is really saying about you.
1) Save money out of every single check.
Don’t skip, not even once. If you are spending your entire check every time you get one, then you are wasting opportunities for growth in your life. What you spend, you don’t get back. You need money that you put away and don’t touch. Take 10%-15% or more out of every check. It helps to pretend like this money doesn’t even exist as part of your check and you will then find ways to make do without this portion. Remember this: If an emergency comes up, can you actually cover it?
2) Does your money make money for you?
So many people aren’t very logical when it comes to receiving money, especially when it is in large sums. You can tell a lot about a person and the way they think as an individual by what they do with their tax return. Are you going to go buy a new big screen TV that goes down in value after you buy it? Or are you going to invest your money into something that will make profit for you instead?
3) Benjamin Franklin is screaming at you.
“Put down that name brand coffee!” - Says Benny Boy.
Do you really need that double espresso, 3 pumps of caramel syrup, 3 vanilla drizzles, extra whipped cream, extra coconut milk, add cinnamon, add cocoa powder, latte? Your Benjamin Franklin's are getting burnt out on your everyday “get through the day” addictions. So burnt out, it’s actually burning holes right in your pockets. Settle for your office’s free coffee or make your own at home instead. You’d be surprised when you sit down and actually see all the “small things” that are stealing away your money every month.
4) Auto-pay might be shredding your cheddar a little too thin.
Auto-pay might make you forget your options with certain companies. Many companies in many states give you alternative options for the same essential service. An example would be gas and electric companies. Many states are deregulated and actually give you the option to choose your gas or electric provider... and would save you a ton of money to switch to someone cheaper. Some companies even allow you to lock in at a price in the summer and your bills would be consistent throughout the winter instead of changing with the up and down market.
5) Pay off that card every month.
If you are wanting to build credit, use only what you have. Then take that card and pay it completely off every month. This will save you so you aren’t spending extra money on charges and fees monthly. Even if you can only do this with one of your cards, it will start a new pattern in your life to spend ONLY what you have.
So, what is your money saying about you?
Marc Beatty is a speaker, writer, up-and-coming author, thought leader, and is a mission to help others live their life intentionally and “On Purpose.”