Financial Fitness

How to Get Your Money Right

Getting your money working for you is a challenge for many people but it does not have to be that way. The truth of the matter is that with a few simple tweaks in how you do things on a daily basis you would be surprised at how you can dramatically alter the course of your financial life.

When I think back to my early errors in judgment about money it is easy to understand why so many people are struggling with their finance. We were never taught about money properly. We didn’t respect it and took it for granted. I found myself unsure of where I was to find money to pay for rent and the daily requirements of life. Today I have a fresh perspective and respect for money and have turned my life around. I am passionate about what I do and have the knowledge to help others successfully navigate this space and get their money right.

Here are 4 proven tips to get your money right:

Tip #1

Get your mind right by controlling the thoughts you allow to live in your head. Regardless of how bad things are in your personal finance you must believe there is more that is possible for you. What you focus on expands so stop thinking about debt and start focusing on wealth creation.

When you come from this space on a daily basis your subconscious starts to work on your behalf to reveal opportunities around you that you have been overlooking on a regular basis. Your inner dialogue must change before you can materialize in the outer world what you desire.

Tip #2

Reduce your expenses; you cannot be a spender and a saver at the same time because the two are on opposite sides of the same coin. I want you to take stock of your daily habits and how you spend your money. This will require you to track your spending and I would recommend you do this for at least two weeks to accurately see the habits you have developed when it comes to your money. Once you have tracked and recorded your spending patterns you need to plug the leaks in your bucket and start developing new habits for how to properly handle your money. Are there things on your list that surprise you? Can you do without the daily coffee at Starbucks and substitute it for a McDonald’s coffee instead? Pick up some books on finance and start reading to improve your financial literacy.

Tip #3

Begin a savings plan immediately. You are the most important person and you must pay yourself first and make it automatic each and every month. This must be done before any other bills or expenses are satisfied. The importance here is to develop the habit of saving as it demonstrates discipline and maturity. Others will see you as trustworthy and this habit could open up many doors and opportunities for you down the road. I would suggest you start with 10% as a starting point and increase that as your income allows. This money will be very important in the next step below.

Tip #4

Put your money to work. Don’t leave your money idle it should be working tirelessly for you 24/7. It is not to be kept under your mattress or simply sitting in a savings account with your bank at 1%. Your job is to safely maximize the returns on your money. Notice I said safely, you cannot afford to lose your money but you must take some risk in order to grow your money. Find the vehicle you are most comfortable with and get some coaching so you don’t lose your principal. The main vehicles that have been used to creat financial freedom for millions before us is real estate, stocks and business ownership.  You must drive one or a combination of these vehicles if you plan to get your money right.  By now you must know that I am biased toward real estate investing.  This does not mean I don’t use the other vehicles, it only means that real estate is my vehicle of choice regardless of the weather outside.

Conclusion

If you follow the tips outlined in this guide you will be well on your way to getting your money right. I wish you nothing but success in your financial journey.

I would love to hear your comments.

With gratitude,

Courtney Carroll

The Financial Fitness Trainer