We all have expenses that fall outside of our monthly expenses…these are the occasional or seasonal expenses and they are expected (albeit, sometimes forgotten when not “in season”).
Some common expenses in this category:
- School start
- Christmas and holidays
- Vehicle license renewal
- Driver’s license renewal
- Membership renewals
One strategy to reduce the financial stress of the occasional or seasonal expenses is to budget for the expenses that are variable such as gifts and holidays…and another is to save for your planned spending.
School has just started and for many parents this means purchasing school supplies, clothing and so forth. The spending is done for this year, but it doesn’t mean you can’t get a jump on next year.
Christmas and holidays are around the corner but you still have time to start saving.
1. Create a “planned expense” tracker or click on the button below and download one that I have created.
2. Enter all your upcoming seasonal and occasional expenses and the amount of each.
3. Highlight the month it is due.
4. For each upcoming month write in how much you will be saving. Each month may be the same amount or the amounts may vary month to month but however you do it…it should equal the cost of the expense.
5. Open a savings bank account for “Planned Spending” and deposit the total amount for each expense monthly.
6. This money is for upcoming expenses and if you spend the money, you will be back in the same situation again. Scrambling to come up with the money when it’s due.
Financial stress may be higher at different times in the year....but if you are struggling with money and debt, chances are it doesn't take much for it to surface.
Every financial journey is unique, and it's not always easy to find the starting point.
If you want to reduce your money-related stress but it's a struggle for you to do it alone, it's time to ask for help.
I can help you ....
Sign up for a Clarity Call today and let's get you on the path to debt-free living.
Have a fantabulous day and always let your awesomeness shine!
Until next time...
Well hello hello and happy day!
I’m sure you’ve heard the word “Mindset” tossed around on more than one occasion….
If you aren’t really sure what it is…the dictionary meaning states:
“The established set of attitudes held by someone.”
Your mindset/attitude can also be called your beliefs or your stories.
You’re probably thinking, “OK great…but how does that translate into everyday life?”
Many of the beliefs and stories we tell ourselves are actually instilled in us at a very young age…they come from the teachers in our lives (parents, guardians, peers, educators, experiences and so forth).
At a very young age, children are like sponges…they take everything in and their teachers help form their perception of life. It’s kind of like loading software into a computer.
Some of the beliefs are so ingrained they work on a sub-conscious level and it’s not until people do the “inner” work…do they find them.
Other beliefs are easier to find…but it takes awareness of thoughts and feelings.
So what’s the big deal with mindset?
Because our thoughts often control our actions… mindset, attitude, beliefs, stories, perception…whatever you want to call it…can determine whether or not a person achieves their goals…or for that matter, it can affect their ability to set goals!
I’m not going to dive deep into this today but here’s an example of a negative or self-sabotaging mindset…belief…
“I’ll never get out of debt.”
The more a person believes this…the more this statement will play out in the reality of their life.
Think of it this way…if someone constantly tells themself they will never get out of debt…it becomes their truth. When they believe this is their lot in life…quite often they give up trying to change their situation or don’t even bother to try because they believe there is no way out for them.
On the other hand…a positive mindset could be a motivator to help someone set and achieve goals.
If someone believes getting out of debt is possible….it changes their perspective…they can see the possibility ….and when they believe something is possible, then they are more likely to take actions to achieve the goals…
Maybe they’ll ask for help… educate themselves…take a course…work with a coach… whatever they do, it will be an action towards achieving a goal that they believe is possible.
The beauty of it is even if someone has a negative belief or story…these are not permanent!
Stories can be re-written…but the work to create change depends on the story and how deep it goes…if it’s something that’s running on a sub-conscious level…it’s going to take more work.
Basically your thoughts create your reality.
Even if it feels true to you and not self-sabotaging, take a moment to reflect how your thoughts are affecting your actions…are they motivating you to move forward or holding you back?
Think about your money stories…what do you tell yourself about money and debt, good and bad? If you can’t think of anything, make a conscious effort to notice your thoughts and feelings that come up around money.
If you have negative or self-sabotaging stories…how can you change them around? What words can you use.
Old story: I’ll never get out of debt.
New story: I’m smart enough to figure out a way to get out of debt.
Old story: I have to work hard to make money.
New story: Money comes easy to me.
Being appreciative of what you have can also help you to release negative thoughts and behaviours.
For example…instead of beating yourself up about the debt you have…focus on the good things that came from that debt…it doesn’t mean you want to hold that debt forever…but it just may help you release some of the mental stress associated with the debt.
And as Oprah put it, “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”
On that note, I am outta here.
Have yourself a totally fantabulous day and let your awesomeness shine!