The signs of being a spending culprit should be fairly self-evident so I won’t go into detail other than to list them:
· Your budget doesn’t add up – if you even have one. You’re spending more than you make.
· Your credit cards are always at their limit.
· You can, or do, only pay the minimum payment. This can get you into so much trouble financially.
· You splurge on buying stuff, or on entertainment, and neglect your bills.
· If your income rises, so do your expenses.
· There’s more in your wardrobe than in your bank account.
· You can’t make a start to make a change.
You may think you can’t change, but you can as long as you firstly realise there is a problem. It’s kind of like being a gambler, smoker, or alcoholic – you want to quit but it’s too hard to know how, or where to start, let alone stick to it.
The secret is to have a plan, some guidance, direction, a helping hand. When it comes to saving, or not spending, it’s easy enough to put a plan in place, but whatever tool you use must break it down for you.
To take control of your money you need to understand the flow of it: Money comes in from . . . and Money goes out to . . .
Your budgeting tool needs to show you what your finances currently look like, what simple options are available to budget, and then how you can easily save money from that budget.
Everyone talks about a “Budget Plan”. I personally call it “Your Spending Plan” because that is what we are trying to control here – your spending.
By creating a Spending Plan you can learn:
· what your expenses are to the dollar
· know exactly what you have to spend
· how to use your credit card wisely
· and be able to take charge of your money and build financial security.
If you understand how your money flows, and you can learn that, you will see exactly what you are spending, what your expenses are, and how small changes can save you big money.
If you’re still reading this, you obviously know that you need something to help you manage your spending. I’m not saying to stop spending. You just need to be able to manage your money better.
Your Wealth Vault has created a ‘Your Money Sense’ course which guides you step-by-step to create Your Spending Plan which gives you the knowledge and capability to have optimum control over your money.
Spending, which you’ll still do, will take on a whole new light. You’ll be able to do it without the guilt and remorse you currently face.
The course, and creating and managing Your Spending Plan each month, will set you back the cost of 3 cups of coffee each month, but what you will save on your expenses should far outweigh that cost.
If you have ANY concerns about your finances and your spending, you need to visit Your Spending Plan.