How to Spend Less Money?

Is it really about “How to spend less money” or could it be:

“How to spend your money wisely”

“How to have something of value to show for the money”

“How to feel you are progressing towards what you want”

“How to create financial freedom”?

In my opinion “You can only truthfully know what you test and measure.”

You know when you go to the gym to lose weight? You only know it’s working because you know what you were at the beginning and you measure as you go.

You know how you tell when your boiled egg is ready? Because you have timed how long it has taken before and you repeat what worked?

Who knows where all their money goes? Who runs out of money before they run out of week? Tracking what you spend will help in setting a budget and give you the ability to create your financial freedom.

Keep a note book, or our fold away tracking card, on you and record every time you spend money. Tally expenses each week and assess your financial position. This helps curb unnecessary spending and makes you aware of where every cent of your hard earned money goes. Do this for thirty days.

Treat your personal finances as you would those of a public company; everything on paper and visible. Even if you’ve previously managed to account for within 10-15% of your monthly expenditure, without tracking it, do it anyway for the experience and distinctions the exercise will provide you.

The 5 step automatic wealth system:-

• Automatic Investment Plan (AIP) Set 10% of your gross income aside each week for investment. This will systematically increase your wealth every week.
• Debt termination plan A contribution of at least 10% of your gross income that systematically reduces your debt every month. This one step will have you completely debt free in 3-7 years (including house and car!)
• Charitable giving plan A contribution of at least 10% of your gross income as part of the responsibility and reciprocity associated with creating and being a good steward of wealth.
• Debt avoidance lifestyle strategies Living by such strategies as only paying cash and maintaining tough restrictions on the use of credit cards. Be sure to totally clear your credit card debt every month. Use the interest free period carefully and wisely. Now you are beating the banks!
• Spend the rest wisely! That’s right! PARTY!! The flexibility to spend all the rest of your money WISELY.

“The use we make of our fortune determines as to its sufficiency. A little is enough if used wisely, and too much if expended foolishly.”-Christian Bovee

By measuring exactly where you spend your money you will have brought to your awareness where you are bleeding money and where you are cutting your self short.  In doing this you will give yourself the choice to carry on the way you always have or look to stop the bleeding and spend more in areas that are  important to you.  Give it a go as I think you could surprise yourself and it could take you closer to what you really want.

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