How to rapidly master your money in 3 simple steps

audit budgeting savings May 18, 2021

These tips could be a little uncomfortable for some people.

Especially the kind of people who spend money they don't have to impress people they don't know.

These 3 ideas can help someone who's struggling with their money to get that under control and have a much easier and stress free life.

So let's get started:



1. Stop caring about what other people think


This is by far the most important thing I can think of if you want to stop being poor and start to build wealth.

So many of my clients who have come to me for help with their money have gotten into their bad situation by doing one or more of the following:

  • Paying more than they can afford in rent to live in a nice place in the hope that people will be impressed.
  • Buying a fancy car well above their pay grade to impress strangers in the street who couldn't care less and are not impressed.
  • Spending stupid amounts of money on high end fashion under the spell of thinking that others will think they are rich. (more on this one later)

Most genuinely wealthy people don't care to impress strangers. They might still have enough money to OWN very nice things, but I can assure you that they do not get loans for them, and only ever spend a small PERCENTAGE of their net worth when buying nice things.

I could buy the car I drive with only 1 weeks wages.

Do I want a nicer car? Yep, for sure.

Do I need a nicer car? Nope. Not at all.

My car is an income producing asset. True, I care a little bit when my friends see me in it. But my friends also know that I've been financially free for over 10 years. My friends judge me on that, not my car.

Stop spending money you don't have to impress people you don't know.

So next time a marketing campaign has you taking out your credit card to buy something you have been convinced you need, try this little hack:

  1. Stop.
  2. Breath.
  3. Put the card away for today.
  4. If you still want it tomorrow, and have determined that you're not buying it to impress strangers, then buy it.
  5. If not, then just consider that the marketing campaign made you feel incomplete and thank them for the lesson.
  6. Apply that lesson to your own business!



2. Stop ignoring the situation and get into the details


it's a bit like ripping off a band aid. You've just gotta get right in there and make it quick!

Choose a day in the next week or so and commit to doing the work that is necessary. Get out all of your money stuff:

  • the overdue bills
  • the pile of receipts
  • the credit card statements
  • all the utilities bills and membership accounts
  • student loans, personal loans and mortgages

And lay them out on your dining room table. Make an agreement with yourself that you have to eat on the floor until it's organised, entered into a spreadsheet and added up.

No matter how horrible it feels!

Auditing your finances is one of the most tedious and most rewarding things you can do in 2020. There's an incredible feeling that comes the moment you begin. It's called relief.

You know you need to do it. Thinking about your money takes up space in your mind, whether you know it or not. Auditing your own finances will release so much baggage that you'll probably never let it get this bad ever again. And that's another reason it's such a good idea.

Once you do it properly, the next time will be so much easier. You'll have a structure and some sort of system. You'll be able to visualise the task ahead in future years and tit will therefore be easier to tackle.

Let's face it, your personal finances take up a significant portion of your time, energy, stress and thoughts.

Facing up to the truth and getting on top of the problem will release a good amount of that time, energy, stress and enable you to think and devote yourself to much more inspiring and important things in the future...



3. Make savings an exciting priority


Nothing feels better than being in charge of your personal finances!

Money is a store of your time and energy. Having a stash of money as a back up enables you to:

  • Have career much better options. You can leave a bad job or accept a lower pay rate for a better job as you wish.
  • You can take wellness breaks more often and travel more to learn about the world.
  • You'll be in a position to take advantage of exciting investment opportunities as they arise. This is how rich people get rich! 

If you haven't successfully saved and invested much in the past, then here's the best way to get started:

  1. Click here to download the FREE Master Your Money Worksheet.
  2. Fill it out and discover how much your life costs you to run!
  3. At the bottom of your worksheet you will find three enormously valuable numbers:
    1. Your passive income target: This is how much your life costs and if you were to create an investment portfolio or business that paid you that amount, then you could be free to do whatever you want and keep the life your currently have.
    2. The second thing you'll get from the worksheet is your money mastery score. This is the blue percentage in the image below. For this person, they are spending 102% of their income, so therefore their task is to cut back on that 2% overspend (which as you can see is $30 per week) so that they can hit their target - and eventually get below 100% so there's left over to invest!
    3. Your hourly pay rate so that next time you're applying for a job or launching a business, you have a pay target to hustle for! You'd be amazed to discover how much you can get just because you are clear on your numbers and can ask with confidence...

      (click the image to download the worksheet for FREE)

  4. Your goal is to get your Money Mastery Score down below 100%. This means you'll have some 'leftover' that you can invest, which is of course the main goal in money.


So get the worksheet and do the work. It will take you less than an hour to complete and it will help you to save and invest.



We're in difficult times.

A lot is changing really fast and for those who are prepared and who have savings to invest, there will be some amazing opportunities for you in the next year or two.

There's no time to waste!

Get off Netflix, just for one night at least and do the groundwork so that you have a better life in the years ahead.

If you haven't already done so, be sure to register for my Tuesday night webinar called Master Your Money. I'll show you even more ways to take control or your spending and master your savings.

It's totally FREE and could go on to be one of the best 1 hour investments of your life!


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