Seeking Sources

How to Take Control of Your Money

Take Control of Your Money

Do you know where your money goes?

Many people complain they don't have enough or they need to make more. Yet ask them how much money they really need and many will have no answer. These people have no idea how much money they need to cover their bills and expenses.

How to Take Control of Your MoneyThey also have no idea where their money goes and may easily be living beyond their means. If this rings true for you as well, then it's time to take control of your money!

Most of us do things out of habit without considering alternatives or examining our choices. Working with a coach involves becoming fully aware and taking personal responsibility for all areas of your life. Are you ready to take responsibility for your money?

Action: Examine every item on your expenditure list. For each item, identify whether it is a need or a want. See if there are hidden expenses that you can eliminate. Make a game of it and see how much money you can find in a month.

Can you find $100 a week that you can put back in your pocket? $100 a week is over $5000 a year. Let that sink in a moment as you look over each expense. Look for patterns in your spending. Do you purchase coffee in the morning or can you make it at home or work?

Do you pack your lunch at least sometimes or go out every day? Examine how you spend at the market - do you market with a grocery list? Or do you just peruse the aisles for what you think you need? Do you look for sale items?

Do you use coupons? Are you using your coupons wisely, or are you buying something just because you have a coupon? What about your phone bill, how many options do you really need? You get the picture. Identify the difference between need-to-have vs. nice-to-have.

Not only are all the luxuries expensive, they make our lives complicated. As new discoveries occur and new products invented, they are marketed as necessities. Decide for yourself whether each new product and feature is necessary for you or just nice to have.

Be in control of your money and how you spend it. There is great power when you are fully aware and are in control. When you find all of the extra money you have been wasting, save it.

Save 10-20% of your income. Saving paves the way for financial independence and the accumulation of wealth. You may wish to consult a financial advisor to help you invest appropriately.

Don't go through life with blinders on. Be fully aware and live life by design!


Julie Fuimano, MBA, RN is an Executive Coach with Nurturing Your Success Inc. She is passionate about partnering with people as they take the challenging journey to a new level of success. Contact Julie at Julie@NurturingYourSuccess.com to explore how coaching would work for you.

SEEKINGSOURCES.COM

SeekingSources seeks out informative articles from a variety of authors. The views and opinions expressed by these writers do not necessarily reflect those of the SeekingSolutions or any official thereof. SeekingSources is only a provider of the article (content) on this page and makes no representations about the content published on this site. It is provided "as is" and without warranties of any kind. SeekingSources hereby disclaims all warranties and conditions with regard to this information, and user agrees that all such use is at its own risk. All articles and materials are © copywrited by the individual authors. Legal disclaimer

Copyright © 2016 · All Rights Reserved · Seeking Sources