Ever feel like no matter how much you try to be conscious with your spending, use the latest apps and trackers to keep your wallet in check or smack yourself on the hand for wandering into the latest designer handbag store, you just can’t seem to stop the money bleed?
I hear you girlfriend! I’ve definitely been there. As a self-confessed brilliant spender I perpetually had this problem until a few years ago and boy did it drain my energy. All that guilt and self-loathing. Yuk !
The problem came to a serious crescendo when I invested heavily in a new business venture where the cash-flow bucket was going to be pretty dry for a few years while we got the business pumping.
Welcome to the perfect storm of financial strain!
Tiny income, big overheads & a huge debt bomb thrown in.
I have no doubt that many of you reading have this exact problem right now.
At that point in my life this was the most painful experience I had ever had.
I felt exhausted and overwhelmed with 24/7 anxiety and stress. My health was suffering, my relationships were suffering and I was screaming on the inside.
But in my true resilient style I knew I had to do something and fast.
I was drowning.
The only answer at that point for me was to drastically reduce my spending.
Drastically reducing spending!!!!
That’s like the death knell for us fabulously energetic spenders. I can see some of my fellow spenders nodding empathetically.
But how? Where? I had already cut back so much. I wasn’t buying clothes, having fancy dinners out, or travelling. How much more pain can one be expected to take?
Like the feisty Sagittarian that I am I pushed my anxiety ridden Ms Emotionality to the side, reached in and woke up my inner Solution Sister.
There is ALWAYS a solution!
I quickly realised that in fact we all have what I like to call ‘Hidden Money’.
‘Hidden Money’ is the little people. The shy guys. The dreamers. The introverts.
It’s always there. Hanging out. Being inconspicuous. Doing what it’s told.
While everyone else is lining up in the budget waiting for their name to be called, the hidden money is wandering around the garden, smelling the roses and dreaming up fairytales. Nobody notices it’s not there. In fact it’s name is not even on the list!So how did I find my hidden money?
The first and most profitable place for me was at the supermarket! Most of us when budgeting look at a few of our recent supermarket spends and then put that roundabout figure into our budget. But what about the money hiding inside that figure? What if you started shopping at a farmers market? And do you really need to drink a glass of wine every night?
I don’t want to sound petty or stingy here but in the early days of starting a business or becoming an investor you will only succeed if you find this hidden money.
Be ruthless with yourself and dig deep into the ‘sections’ of your budget. Don’t just take the budget at face value – tear each section apart and find where you can strip out costs you don’t need and often don’t even know are there.
You will be very surprised at what you will find. I was!
Gee Barb, it sounds like you need to be really organized to do that!
Absolutely you do! But how much do you want to realise that grand vision of yours? Maybe you don’t want it enough………….
Happy Hunting ☺