One of the things that I find so rewarding is when my clients begin to take
back control of their money. Not everyone understands what I mean by that
so let me explain.
If you are waiting desperately for your next pay to arrive – your money is
If you cannot afford to pay all of your quarterly bills when they come in – your money is controlling you
If you have credit card debt – your money is controlling you
If you long to go on a holiday but have never been able to afford one – your
money is controlling you
Being in control of your money will allow you to distribute your pay when it comes in and direct it to meet all of what you want to spend it on.
That’s a pretty big statement and I can hear all sorts of excuses rumbling in
response to it but let’s use the past 8 weeks to highlight my point. On March
the 15th this year, our Prime Minister, Scott Morrison, announced social
distancing to help prevent the spread of Coronavirus and it was then that we started to see the closing of those places that we love to socialise in and
spend our disposable income in.
Now that we have become used to reduced spending surrounding eating
out and socialising, have you been surprised just how little you have been
able to live on or just how much you have been able to save?
If you had your hours at work cut back or you totally lost your job, you will have, in most cases, had to survive on a lower than normal income – sure you would have had the added help from your creditors to stop your payments for up to 6 months to help with your affordability but you would have noticed that you have been able to live on a very limited income for these last couple of months. Others of you would have been doing it so tough- you would have had to accept help from charities to help you feed your family. In both cases, whatever income you have received over the last few months, you will have noticed you could live on a lot less than you used to. Others of you, whose incomes had not changed at all, would have noticed just how much you can save when your ability to go out and socialise is restricted. So before we all race off to resume our previous level of spending as we get back to normal, I would like to encourage each one of us to think carefully and address my initial statement regarding money control.
” Being in control of your money will allow you to distribute your pay when it comes in and direct it to meet all of what you want to spend it on.”
What is it that you would like your money to afford? and before you start
getting carried away I am not suggesting it is possible to have a champagne
lifestyle on a beer income. Obviously if you are wanting to charter a million
dollar yacht hosted by staff looking after your every need – then you may
need a higher income but what I am saying is that in the majority of cases
you earn enough to:
-Pay your bills when they come in
– Pay down your mortgage in a shorter term than the bank suggests
-Afford to eat healthy, nourishing meals
-Save for something
-Give to those in need
All it takes is being in control of your money!
So before we start to resume back to some sort of normal, let’s take these last few weeks and maybe for some of us, months, to plan how we will re-enter the world. You will need to plan – that is the key to making all of this work and you will need to be disciplined but what you have learned during your time in isolation is that it is possible and once you know that, you can find a way to move forward and get your money under control.
So I will ask you again – is it time we talked? If you need some help – give me
All the best:)