Page 18 - Workbook1E

#8
Do you see a pattern or did you learn anything new about your shopping habits? Do you shop for therapy or have you fallen into the see-want- borrow-buy trap?
Gratitude can help you live on less than you earn.
Focusing on what you don’t have and always wanting more—keeps you from seeing the richness of your blessings, especially things without monetary value, like relationships and good health. Go back to your “Most Important Things” list and circle items that don’t have to do with money. You can use the “Notes” section to write other things you appreciate that don’t cost money.
Make a Spending Plan
The sad truth is most families live paycheck to paycheck, with no spending plan, no savings plan, and no idea of how or where they spend their money; and have No idea how to get out of debt.
What’s the difference between a spending plan and a budget? It’s only our perception. “Budget” can imply cheap or poor, and you may feel slighted and constrained. “Spending Plan” is more accurate. You spend money daily just using electricity—how you PLAN to spend it is the key.
Without written goals your financial life has no focus or direction. You wouldn’t make an important journey without a roadmap or destination. You could end up worse off than when you started or even lost. Without written goals you’ll most likely go deeper into debt.
A spending plan gives you a clear roadmap to follow. Daily spending choices are short-term decisions with long-term results. Your roadmap gives you the big picture. Your written goals help you resist impulse buying and keep you in control of your spending and future. Instead of being a slave to debt, you’ll be the master of your finances. You can stop worrying.
Just Two Questions... before making any purchase ask yourself:
1. Is it worth the price?
Consider each purchase carefully. Is the need it fills worth the cost? Will it have lasting value? Will the cost keep you from buying other things you want more?
2. Does it fit my values and help me achieve my goals? Use your values and goals as a way to judge every purchase.
Before you buy, check your “plan” first.
These questions help you gain control over your spending and teach you to live on less than you earn.
“He who is not grateful for the good things he has, would not be happy with what he wishes he had.”
~ Anonymous
14 Workbook 1: Building a Spending Plan that Works