Tracking where your money goes
A wealth nugget from Ocean’s Eleven
I love the movie Ocean’s Eleven (and Twelve and Thirteen…) it’s got George Clooney and Brad Pitt – what’s not to like? 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 is able to pull off the heist is 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 – and it can be your secret too!
Knowing where your money goes and what happens to it, 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 in around month end, but when it comes to grocery shopping they are spending considerably more than they realise. The more you spend, the less you have to save and the longer it will take to achieve the ultimate goal, of getting 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 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, medical or vitamins, clothes or gifts etc.
This helps you to track the amounts that you spend, as you actually spend that money. At the end of the month you are able to look back and assess the payments that you felt were excessive or unnecessary. This information is so valuable for creating the follow months spending plan and to direct more 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!
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 Diary, the Abundance Journal, and my online Wealth Webinars all support you and empower you to take charge of your financial life, which truly is a gift to yourself!
A good start, is knowing where your money goes!
Visit my Free Resources page for templates that you can use to track your money!