The art of Abundance isn’t ONLY about how much money you can make, its about how much you can keep. If you don't watch your spending even if you wealthy and consistently receive income raises, your spending will increase along with your earnings.
Often leaving you in the same net position or even worse. If you don't believe me, just look at many multi-millionaire athletes and movie stars that end up in net position zero.
What I learned in life was that, poor people act rich and rich people act poor. The richest people in the world watch their spending like a hawk...
So, if you are struggling to make ends meet at the end of every month, or you are falling into ever-growing debt, now is the time to rework your finances so that you can improve your lifestyle and protect your family’s future.
In this video, I share these financial tips because there literally comes a time in every persons life where we have to evaluate our spending and start looking out for the future.
Whether times are tough or not, if we're not careful we'll go through our savings only to end up back at square one once again...
Perhaps you haven't yet been able to save and you feel as if developing a family budget is far too difficult or takes too much effort.
As an active entrepreneur, husband and father of two, I'm here to tell you that despite your expenses and the size of your family there are still ways to effectively budget, save money and time making every dollar stretch further than before...
Here's what we cover:
1. Keep in mind developing a family budget doesn't mean you can't occasionally splurge or you need to restrict your family in any way.
2. In fact, it's quite the opposite and with a financial tracking system for your personal life and business, like I give my clients, you save hundreds/month.
3. Your mindset will really be to curb spending where it's not directly benefiting your family in the long run, and to stretch, invest...
4. Creating a budget will help you identify "cash leaks" quickly, in many cases, you may not even notice where a good portion of your money is going.
5. Your budget can be as flexible as you're comfortable with as well, changing as you make more money, or as your family requires.
6. The first step in developing a budget is to take stock of your fiscal situation. Assess exactly where you are in your financial life by...
7. You don't have to save hundreds a month, but instead, work within a budget that helps you pay the bills, while putting a little aside every month.
Ex) Your spreadsheet could include "Obligatory Spending" such as mortgage or rent payment, as well as "Necessities" which include food, etc.
8. Then, include "Pocket Expenses" including entertainment and of course, "Family Allowances" that may include family trips, clothing, and misc. items.
And much, much more...
Consider the frequency in which your family eats out, examine your commute for more efficient driving, pay larger bills in portions throughout the month, rather than all at once, and shop based on weekly specials.
Once you get into the habit of making more conscious decisions about your spending, you'll find it easier to save more money than ever before.
With your family’s goals written down, while constantly reflecting upon them, you will find more desire and motivation to actually achieve them!
It is never too late to follow your dreams... Your desired future life awaits you... Now, the really important question is… What legacy will you leave behind for your family?
Check it out and let me know what you think!
To your success!
Mike Weber and the team at worldwidebreakthrough.com