You might think, this is nothing new. And you are correct. The most valuable information is freely available and definitely nothing new. So why then are we not all super rich, gorgeous, healthy and well-balanced humans? Here is why; it requires deliberate effort, conscious decision making, planning and a vision. And all those things require time and effort.
I want to unpack the phycology of the penny. I want to talk about the real value of money and how we treat it. And how it’s value compounds and becomes something amazing. Remember, it is not what you earn, but what you do with what you earn, that really matters.
I want you to think of your pennies, cents and dollars as being responsible for certain things in your life. Yes, you read correctly – responsible. Each dollar you earn must have an allocated purpose. Because, if they do not, they will fall into the black hole of nothing and they will be wasted.
Some might think whatever they have left over after expenses, is their fun money. You should have nothing left over, as every penny should be allocated to something. You might think that I am being a little ridiculous as you surely deserve to spend some of your hard-earned money on whatever you like? And to a certain degree that is true. But what I am saying is, why waste those dollars on unplanned impulse buys, when it could pay for your next holiday! Here is a golden nugget for you, put away your savings first and budget within the remaining balance!
Remember, small changes can result in big results over time. It will also require teamwork and commitment. As a family you can work together. Let’s use the electricity bill as an example. If we can save $15,00 a week on just this expense alone, we can save $780 per annum. Let’s cancel one of our many subscriptions we have, that’s another $10.00 a week, totaling $520 per annum.
How about our grocery spend? Which foods are you over catering on and binning after each meal? Know your portions sizes and stop wasting money!
Perhaps you do not need your morning flat white from the local café every morning? Revamp and relook the usual spend, see if you can make some changes that are not too drastic.
Plan for the unexpected so that it does not destroy your weekly or monthly budget & savings!
Making your pennies responsible means that you won’t be buying the $5,00 loaf of bread at the local corner shop, instead you will be buying 5 loafs of bread at the discount super store for a $1 each. It means your $200 will get you $300 worth of groceries, The more you plan and budget, the more you will start to maximize each dollar’s potential exchange value.
Know your dollars’ worth.
Save first.
Re-evaluate your budget every 3 – 6 months.
Plan for the unexpected.
And enjoy your well-deserved holiday ( or your new car or your kitchen counter top or your landscaped garden – you get the idea ) without going into red!
MomindaMix 