Money Talk

Eliminate regular bills that aren’t giving you enough value. Is it worth paying for that gym membership? Is it worth paying for Netflix? Is it worth paying for car registration and insurance (meaning do you really need a car)? Decide for yourself which services and subscriptions actually bring value to your life. Don’t sign up for things unless you are very certain that this new subscription or service or bill will bring you real value. Systematically improve your shopping and spending habits. Every single time you are about to spend money, ask yourself three internal questions: do I really need this thing right now? if it is an urgent and important need, is this something I could borrow from someone? if this is an urgent and important need and I can’t borrow it, can I find it at a better price?This system doesn’t keep you from any important purchases. It just keeps you from wasteful ones. Start spending less than you earn every single pay period. You have to be consistently spending less than you earn, paycheck after paycheck. If you can’t do that, or won’t do that, you will not have lasting financial success. There absolutely must be a gap between your spending and the amount you’re bringing in. That leftover “gap” money is the money you use to build your financial future. Build a healthy and perpetually growing emergency fund. An emergency fund is a pool of cash you can draw upon during moments when the expenses of life exceed what you can handle with the extra money from your paycheck, or when your paycheck shrinks or disappears. Your emergency fund steps up when you lose your job or your hours are drastically cut or your car breaks down or someone gets sick or another unexpected life crisis happens to you.

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