Mastering your money game can totally transform your life
Every new year, many people see a new chance to start fresh in life. But, here’s where they make their (expensive) mistake. Many people don’t think about giving something else a makeover besides their weight or wardrobe – their budget and finances.
I’m going to tell you the worst (and most common) money mistake I’ve seen people make in my 30+ years of financial experience. They think they can DIY it. Here’s why that’s a mistake; shrinkflation. Nowadays, you’re paying more money for less quality.
But without the right knowledge and resources, you’re going to suffer trial and error by trying to wing your finances. Your bank account isn’t something to experiment with!
The trick to financial thriving? Budgeting and access to the best resources possible. Below, you’ll find the top benefits of budgeting to fund your 2023 dream goals!
Imagine yourself in Paris, sipping on a glass of delicious wine, and feeling at peace with the day. If Paris isn’t your thing, then maybe it’s Rome or Tokyo!
Either way, you most likely have a dream destination you want to travel to. If you budget right, you’ll be far closer to your dream goals than last year.
Even if travel isn’t something that interests you, always have smart goals you want to achieve! Here’s how to do that:
Get crystal clear on a goal you’ve been wanting to achieve Think about the financial measures you’ll have to take to make it a reality Once you realize this, think about the actions you’ll have to take to make sure you’re always working towards this goal
Whether it’s traveling, further study or a trip to the salon, always budget your money to make all goals achievable. Every woman has life goals – big and small – and she should always find a way to achieve them. Especially with the right mentor who understands where she’s coming from.
A major benefit of budgeting? It forces you to take a personal look at your spending habits. What usually happens from this up-and-close examination?
You notice little things you sure didn’t before. For example, you might realize you’re spending $200 a month at Starbucks! Or that you don’t actually need those 20+ streaming subscriptions, since you’re too busy to watch TV anyway.
Budgeting lets you rethink your spending habits and what you can let go of – and save more on!
Think about your priorities:
Is travel that important to you? Is there a cheaper way to do it?
Can you put anything more towards paying off your debt instead?
What else is important to you and affects how you spend your money? Can you let any of it go or minimize your spending?
Answer all of these questions and then plan your finances. Knowing why you are doing it will keep you motivated and focused too.
How many nights have you spent tossing and turning with gut wrenching worry about if you can pay your bills? Probably a few! We’ve all been there… and it’s awful.
But, people who lose sleep over money issues let it take control over their life – and their health!
Budgeting lets you take back control. When you budget money in a smart way, you’ll never lose sleep over your bills again!
Part of budgeting is being a problem solver… not a problem starter.
Look at where you can cut back and save more money. By saving and strategizing beneficial spending, you’ll be happier and less stressed in your sleep. Nice, right?
Life is filled with unplanned events. Getting laid off, death in the family, a natural disaster… many things can lead to financial drain you can’t avoid. And make you sweat a little to think about.
This is where a “disaster fund” can be a lifesaver! Of course, you never want to have to use it. But, a “disaster fund” is a real necessity. Emergencies always come crashing in at the worst possible time in your life—usually, when you’re already low on cash. This is exactly why you need an emergency fund.
At Got Money Honey we like to call this disaster fund our OMG account. For obvious reasons — Oh My God! are the words most people utter when large, unexpected costs appear.
Your OMG Account should have money that allows you to live for at least three to six months (like if you can’t work for whatever reason). This money helps you stay in control after an emergency.
Of course, this kind of fund takes time to save. But, don’t just dump your whole next paycheck into your OMG Account! Be smart and build it slowly with smaller goals. Even if you put $10 aside each week, your emergency fund will slowly build up.
The best of budgeting? The long-term benefits of planning and strategizing!
When you create a budget, you’ll be able to plan to reach your goals – big and small. A simple budget helps you live a stress-free life. When you control your spending and stick to a budget, you can draw up a roadmap that leads to the happy moments you’ve been waiting for.
Whether that’s travel, paying bills, taking care of your family, or doing little things like having a spa day with the girls – you’ll be able to make it all happen!
The wise choices you make today will pave the road for your future financial freedom. You’ll go from saving your money to investing in it. Instead of going nowhere by winging your budget, you’re going to be a boss who’s in control.
Sure, this doesn’t mean unexpected things won’t happen. But, you’ll be in control when life happens without freaking out. Do you want to know one sure way of doing this?
Got Money Honey is a top-rated program of in-depth courses, webinars, and resources designed to empower women financially. You’ll be given the knowledge and skills it takes to control your finances and live the life you dream about. Take out the confusion and stress and change your financial future into worry-free security!
Make the right (and final) investment so you can focus on long-term success without the head-banging trial and error. Trust me, your bank account will thank you later for this!