So Christmas is over

Take a bow if you stayed within your budget over Christmas or even made a budget. If you did, you are one of the very few that knows restraint and planning.

Its’ not surprising that the rest of us loosened the purse strings a little because, ya know, it is the season of giving. But how much is enough without a measure. I know people that gauge their spending on the previous year and then add a percentage. “Last year I spent two hundred dollars on little Johnny so this year I will need to spend two fifty”.  And the interesting thing is that when I ask “Why?” they don’t have a very confident answer. “We’ve always done it that way”.

Let’s make 2019 your year. Start the year off on the right foot by looking over your bank statement from last year and highlighting the ‘other’ expenses. What is it that let you down last year? Was it take-away, the lunches, the cigarettes or drinks?

Commitment to wealth starts with the smallest sacrifice. I have a friend who is a heavy smoker. He spends about forty dollars a day or cigarettes. Last year he started the year by skipping a day of smoking each week and putting the forty dollars in a jar. By the end of the year he had $2,080 in his jar. It was difficult for him in the beginning but as he saw his jar filling each week he became more motivated. This year he plans to skip a week each month plus the one day a week, that’s almost five thousand dollars for the year. But in addition, his health wins as well.

But if you’re not a smoker then it might be something else like: coffee, magazines or gambling. Small changes are the key.

The second thing you can do for yourself is monitor your spending each week or fortnight. If you are one to spend all your pay from week to week then serious investigate:

  1. What it is you spend it on.
  2. Why you spend it. Are you an emotional spender? Just had to have it.

It’s early January so set a goal that will start 1 February. Give yourself time to plan and definitely enlist the aid of your significant other, family and/or friends. Let everyone know what you are doing and look for supporters.

I hope to see comments come December of your achievements. Let’s do this.