A Fool and Her Money…
April 5, 2011 by Wishcrier
Filed under Blog, Money Moment
are soon parted, as the saying goes. Or how about “Penny Wise and Pound Foolish” – that’s an expression we’ve all heard.
But whether we are or aren’t being foolish with our money, almost everyone’s finances can use a little tweaking.
To keep your finances penny wise AND prosperous by the pound, below are 10 practices that if followed “to the penny” will prevent you from ever being “parted” with your money again.
1. Know your numbers. Your income and expenses, credit score, interest rates you pay and earn, etc. When it comes to money, knowledge truly is power.
2. Keep it separate. If you run a business, don’t mix personal and business finances.
3. Know your type. Know your Money Type, i.e. the need that drives your money habits. Is yours Security, Status, Recognition, Love and Value? Don’t know? Might be time to check in with Shannon for a money tune up!
4. Don’t spend what you don’t have. Sound advice that many ignore—and regret.
5. Save, no matter what. Even if you save only a few dollars at first, what counts is the habit.
6. Stay organized. Physical clutter contributes to mental clutter, which exacerbates financial avoidance.
7. Create a monthly spending plan. The plan keeps you aware of disparities between income and expenses.
8. Bank/pay bills online. The benefits of 24/7 access outweigh perceived security risks.
9. Be card-conscious. Pay off purchases every month or pay your card BEFORE you make a purchase.
10. Find a money tracking system—and stick to it! Consistent action is more important than the system you choose.
If your money habits are more foolish than fruitful, the Money Breakthrough Method™ coaching program might just be the thing to get you back on track to creating money by the pound instead of by the penny.
To see where the money leaks are, take the Money Breakthrough Assessment or schedule a Money Breakthrough Strategy Session here for only $97.00!
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