Track where your MONEY goes!
Did you know that tracking where your money ACTUALLY goes, could be a highly beneficial money activity that you can do for yourself? Knowing gives you key information, without which, you will be left WONDERING where it went!! Without that information, you will always feel like you are playing catch up with your money. And that is definitely not an empowering position to find yourself in!
A wealth nugget from Ocean’s Eleven
I am sure that you remember the movie Ocean’s Eleven. And following that there was Twelve and Thirteen too. Of course you remember, coz it featured George Clooney and Brad Pitt! It’s humorous and clever in ways that surprise the audience, not necessarily a movie that one would think can teach us a valuable money lesson.
Or can it?
No, it’s not a lesson about gambling or poker; it’s a lesson about knowing what happens to the money.
WEALTH NUGGET: Know where your money goes
The only way that the team of eleven were able to pull off the heist was by knowing where the money goes and what happens to it. They know where it’s kept and how it’s monitored, that’s their secret to success, knowing where it goes and it could be your secret too!
Knowing where your money goes and what happens to your money, is the best way to keep it!
If you don’t know where your money is going, you may as well be throwing it away.
After years of working with clients, one thing that frequently comes up is that many people have no idea how much they spend on a day to day basis. They have a rough idea of how much they spend around month end, but when it comes to grocery shopping and other day to day expenses, they are spending considerably more than they thought. For some, it is a huge eye opener. The more you spend, the less you have to save and the longer it will take to achieve the ultimate goal, of getting more of your money working for you.
Do you know how much you spent today? Yesterday? I mean the exact amount. Did you write it down somewhere so that you can track it and know where your money has gone?
This is where my Abundance Money Diary proves to be a valuable asset. Every month has an entire page dedicated to tracking day to day spending that is made even easier by the provision of the following categories: Groceries, entertainment, personal well being, clothes or gifts etc.
This system helps you to track the amounts that you spend, as you actually spend that money. Track daily or at the end a few days, so that by the end of a month you are able to look back and assess the purchases/spending that you might feel were excessive or unnecessary. This information is so valuable for creating the follow months spending plan and to direct more or your money to savings!
Knowing where your money goes is a nugget of information that will bring stability and peace of mind to your finances. There is also the flip side to Ocean’s Eleven’s wealth nugget: The guards watching the money did not know where it was going, and they lost everything! Think about it…
Don’t bury your head in the sand and don’t detach yourself from your relationship with your money. Tracking your money is crucial to regaining your power in the area of your finances. The Abundance Money Diary, the Abundance Journal support you and empower you to take charge of your financial life. Good money management truly is a gift to yourself and your well being!!
As always, here’s to your abundant journey!
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