"Without reflection, we go blindly on our way, creating more unintended consequences, and failing to achieve anything useful."
Margaret J. Wheatley
When it comes to sorting out our money management, finding a place to start can sometimes be the hardest part of the battle.
Regular readers of my emails and blog will know that I strongly encourage SMALL STEPS.
😣 Because money management can feel so daunting.
😣 And sometimes we just don’t know where to start.
😣 So we stick our heads in the sand and hope for the best.
However, I truly believe that confident money management is achievable for all of us.
So, what would be a good way to start?
It’s important that we:
💫 Do something that doesn’t feel overwhelming
💫 Do something that feels manageable
💫 Do something that can build into an useful habit
💫 Do something that feels like we are beginning to shift things
Want to know my top tip?
Well, before I tell you, let me ask you something …
Can you spare 3 minutes a day?
I told you we can start small.
Well, if you’re up for it. Read on.
In those 3 minutes, I would like you to reflect on what you spent yesterday.
➡️ Check your online bank statement/s
➡️ Check your credit card/s
And write it down. That's it!
For a month minimum.
Seems too simple? Want bonus points?
I think that’s plenty to get you started. However, if you want more … then you can split those outgoings into 3 categories:
Essential: Groceries, bills, housing, childcare etc
Choice: Shopping, entertainment, dining, coffees out etc
Occasional: Boiler service, holidays, household purchases etc
THERE. THAT REALLY IS IT.
Why is reflecting on what you spent the day before my top tip?
Because by creating a REFLECTIVE SPEND record you will be:
💥 Increasing your AWARENESS
💥 Spotting BEHAVIOURS that might not be useful
💥 Identifying UNNECESSARY payments
💥 FAMILIARISING yourself with your money
💥 Making your numbers ACCESSIBLE rather than scary
💥 And informative PATTERNS will emerge
With at least a month of REFLECTING on your outgoings, you will gain INSIGHT that can INFORM your future money decisions. Hey, you could even get on board with budgeting (which would be the next stage)!
So ... are you up for it?
3 minutes a day.
Reflect on your spend.
Write it down.
Little and often.
Commit to it.
If you would really like to give this a go, but feel a little overwhelmed and are not sure where to start, click here to set up a free mini 121 to chat about ways I could help.