Global Grind’s financial coach, Lynn Richardson, says there’s still time to achieve your financial goals in 2012 if you change your mind about money:
If you want to change your money, you must change your mind, because more money will never solve a money problem; if it could, millionaires wouldn’t go bankrupt. Without proper knowledge, more money will simply make you more of what you already are: more likely to keep trying to keep up with the Jones’ and/or more likely to create bigger bills and bigger problems. Let me prove it to you: have you ever gotten a raise, then found yourself with LESS money? Well, if you get a raise and then you raise your expenses to go along with it, then you will never have more money to build wealth, you will simply have more bills and more financial bondage! In step one, you learned that the way accumulate more wealth is to spend less money WHILE you are earning more money and in step two, you learned about saving. Now, let’s talk about spending addictions.
If you want to acquire wealth, you must eliminate your spending addiction: this is what happens when you go to the store for toothpaste and walk out with $179.47 worth of stuff you don’t need! Previously, you learned that the key to acquiring more wealth is to spend less and earn more, I instructed you to try living by the 10-10-30-50 rule, and I shared that the first 10% of each check is for giving and the next 10% is for saving.
Well the next 30% is cash in your pocket. This cash is for EVERYTHING THAT IS NOT A BILL: groceries, gas, hair, lunch, etc. Having the cash in your pocket or in an envelope designated for groceries, gas, lunch, etc., prevents you from swiping your card thoughtlessly and it prevents you from overspending. Plus, if you want to change your money mind, you must develop a new relationship with money, and that begins by actually seeing, touching, and handing over the money that you spend: it’s much easier to swipe your card or write a check for something you can’t afford than it is to take the money out of your gas envelope and spend it on something you don’t need.
Get it? I know you do. Change your money mind by ending your spending addiction and remember that Scripture says “a fool and his money will soon part." Spread the word to others and stay tuned for Step 4: Change Your Money Mind by Living Below Your Means and Managing Your Bills Efficiently.