What does Money mean to you?
- Do you spend more than you earn, less than you earn, about the same?
- Are money worries a source of stress?
- Is your credit card debt more than you can handle (be honest)?
- Do you manage to save on a regular basis.
- Do you spend for the long-term or short-term.
We could all benefit from improving our finances – unless we’re in the fortunate position of having more money than we know what to do with and have wisely invested for our future and old age, so have nothing to worry about.
Overspending may be something you do every now and then or it may be a pattern of behaviour that you need or would like to change.
What beliefs do you hold about money that affect your current money behaviours and habits? Our beliefs and spending habits develop in our childhood from our parents, society and religion and what they teach us about money. We may either take on the same behaviours or they may be totally different.
Here are three ideas to help you make a difference to your Money this week:
- Start a money diary. Write down everything that you spend this week, from the smallest amount to the biggest bill – every newspaper, coffee, snack bar, bus fare, car park fee. At the end of the week see how much you’ve spent and where.
- If you don’t know the numbers already, work out your monthly expenditure. Gather all your bank statements, credit card bills, household bills – everything that goes out and payslips, dividends, interest statement – anything that comes in.
- Reduce your outgoings. Are you getting the best rate on your car and house insurance? Check your bank statements – are you paying for things you no longer need.
Get a copy of my free Money Habits checklist and you'll get the first chapter of my More Month Than Money e-book.
See how much you can save this week.