Do your finances seem like a black hole? Money comes in, maybe even lots of it, but it gets sucked into nowhere and you’re not sure how it happened? This may occur for lots of reasons, but the biggest is biting off more than you chew (or pay for). Another way of saying this is you are not living within your means. For example:
Tags: abundance, debt, finance, finances, money, prosperity, saving, spending
If you are wishing for more prosperity or desiring wealth, it requires attention and knowledge on multiple levels. There are three levels of consciousness to transform your relationship with money.
In the “real” external or outer world, we must gain and understand financial knowledge. We educate ourselves about income and expenses, investing, taxes, and the importance of savings. We read books, watch television programs, attend classes and learn about the stock market, planning for retirement, how to ask for a raise, how to cut our taxes, and managing money. Here is where we develop skills, acquire tools, and use our experience to make sound decisions. At this level, it is our lack of knowledge and skill most likely to trip us up.
We also must understand our feelings, thoughts, beliefs and values around money, prosperity, wealth, poverty, and all that entails. From early childhood we have absorbed lessons, true and untrue, and developed beliefs about money from parents, school, friends, the media, our religions and our cultures. Our values around money, wealth, work, poverty and other money-related issues were also formed early on. We are still absorbing messages about money, especially in the western cultures where money is “king”. Your unconscious beliefs or values can negatively or positively affect your ability to choose wisely. Making these beliefs conscious and determining whether they are still useful to you may enable you to make better choices and have what you desire. There are many tools and techniques available to bring these beliefs to light including simple ones like asking yourself questions about what you believe and why.
The last way we affect prosperity is through our spiritual practices and understanding. It helps to learn about the spiritual laws governing prosperity and abundance in our lives. These include having clear insight into who you are, and your place in the world. It includes understanding the interconnectedness of all living things and the planet. For many of us, having clarity and congruency, living an authentic life, understanding the laws of attraction, and being in touch with our inner spirit or self (sometimes called higher self are necessary steps in transforming our relationship with money. And most importantly, having intense gratitude for all we already have.
Mary Anne Fields is a Personal Coach, Trainer & Speaker specializing in the areas of life transitions, your relationship with money, simplifying your life, preparing for retirement and living your dreams. For more information about Life Unfolds, see http://www.lifeunfolds.com.
(713) 528-5971
maf@lifeunfolds.com
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“If you know how to spend less than you get, you have the philosopher’s stone” - Benjamin Franklin
Ok, so how do you do it? It seems like any time I try to spend less, a new expense comes charging (so to speak) through the door. Here are a few suggestions I’ve gathered:
1. Robert Kiyosaki, investor, entrepreneur, and millionaire, says in his book, “Rich Dad, Poor Dad,” that one essential is paying yourself first. That is, determine what amount of your income you’re not going to spend (i.e. you’ll save or invest it instead), and then stick with it. Even if it’s just $10 per payday, do not let anything force you to spend that money.
2. Raise your standards. Take a month and calculate the amount of money you spend on snacks, sodas, fast food, and other junk that doesn’t last beyond the moment. As much as possible, dispense with frivolous spending, but at the same time don’t be afraid to reward yourself with big things. By refusing to spend on cheap or useless “stuff” you’ll have more available for things you really want. Rewarding yourself when you can accomplishes two things. It gives you a motive for saving and it gives you tangible evidence of your new found financial success.
3. Instead of thinking in terms of what you can afford, think in terms of what you really need. Don’t take out a mortgage for the maximum you qualify for. Lower the limits on your credit cards. Pay cash whenever possible to avoid paying interest. Learn to practice “purchasing patience” - wait overnight or longer when possible before buying so that you break the habit of spending on a whim.
4. If you haven’t already, create for yourself a financial buffer and don’t dip into it except for extraordinary circumstances. Some say you should have at least one month of living expenses set aside. Some say it should be two. I even know some who aren’t comfortable unless they have at least a six month cushion!
These, and other simple strategies can help you keep more of your money in your own pocket and set you on the path to financial independence.
Leonard Hopkins is an internet entrepreneur and small businessman. He edits two blogs, http://www.moneyrant.com and http://www.thedailygoodnews.com
Tags: debt, money, personal finance, wealth building