What is the point in making a training plan if it isn’t related to your big aspirations? Making the connection between your aspirations and money is the most important part.
This could be:
Whatever it is, there will most likely be a connection to money – either directly (in the case of a house) or just by making it easier and quicker to achieve (in the case of reducing or travelling).
Here is something for you to do..
Now you have made the connection, what you need is a………
I hate the word budget. The look on people’s faces when you say “what you need is a budget” is some combination of boredom, glazed and pain.
This is a training plan, just like you would make for any exercise goals. It has lots of positive connotations. And here is how you do it:
On the last one, be realistic and honest with yourself. What are the FUN activities that really matter to you and how much do you need to spend on them?
This isn’t about cutting out the things you enjoy. After all, YOLO! But it is about being realistic with the amount of money you have to spend on these things and prioritising how you spend it.
It is also about making sure you have your #1 aspirations in mind and you are putting some money aside each month to achieve them!
This is so important kids! You cannot and will not be good all the time. This is the done thing in fitness, you will always have a recovery day (or 3). So why not in money?
There are days when you can’t be arsed to cook your own lunch, or things unexpectedly pop up like the car breaking down, or your friend gets engaged and the hen do is in Ibiza.. these unexpended expenses pop up all the time. So why not plan for it!
Some people say you should always have 3-6 months of expenses. The way I think about it is – put aside 5% of your earnings every month into an emergency savings fund. Then let it build up over time.
That way you will always have peace of mind that if those pesky expenses pop up then you can fall back on this fund!
I LOVE A DETOX DAY! These are spend free days.
On these days you will be:
They are amazing for your bank account, but they are also great for your self-control and feel good state.
If you are motivated and organised enough to do them once a week, then HIGH FIVE! Otherwise a couple of times a month is great. You will see the results of your efforts, I promise!
Last but definitely not least.
Carve out time for your financial fitness! This stuff doesn’t happen by accident. You can’t expect to achieve your aspirations and have a financial training plan tailored to you, if you don’t make time for it.
My advice is to commit to 2 hours on pay-day. Make yourself some dinner, pour a glass of wine, and go through these 5 essentials! Most importantly #2. Make sure you have your plan, it will keep you on track and accountable!
But.. be patient! You aren’t going to change your world overnight, and you shouldn’t expect to. Make small changes, save a little more each month. Add in a few detox days here and there. You may have hiccups along the way, so be ready to pick yourself up and get back on track.
The results will come, but just like with exercise, they take time. You will get there!