Create A Money Float
Dear Humans
We work every single day from paycheck to paycheck, I get the vibes, I’m in the same boat but over some time, I want to share the money float to you to help you out in a way that has helped me save money and budget it on a different level.
I will start with what a money float is, its the balance that you need to keep in your bank account as a base amount which you will not go below unless of emergency or extra spending, this way a float is designed that provides for you in the future at some point.
I started by working out my monthly expense and creating an amount I would need as a float for example ￡400 this would then become the amount I should always have in the bank so I was one month ahead of my expenses, then you can tweak it to around 3 months and make it 1200 as your money float so you can slack of an amount of three months as a way to create a better lifestyle choice.
I know this may be hard at first and it always is but the trick to delay gratification, is to not do your normal purchases or expenses and work around it, I see it this way if you cant handle ￡1000 you will never be able to handle ￡10,000 or even ￡100,000, The skill here is to keep money and not spend it just because you can’t handle the sight of it.
The float will keep you ahead of your expenses by the months you choose. On a personal basis, I think that 3 months is a reasonable time frame to start with and hopefully one day I shall create a one-year float.
Rules of the money float
I figured this when I was a child the money I got to spend for my treats was easy, as I got the money and they just brought what I wanted, the spending mechanism has been extremely strong since I was a child but the aspect of storing the money hadn’t been, it is like there is a dopamine rush when you spend the money but not when you keep it, with the float you can reverse this and use it to live a better, stable and future proof your life.
Develop the float first then admire the float, then see how long you can keep the float intact before you dip into it, it is very challenging and will make you question all your expenses and audit your entire money flow. but will build willpower over time to only purchase and spend on what you want and need rather than what is habitual.
Please remember my brothers and sisters the amount of your float is not your value as a person, it is just a way to keep a budget on your finances and create the willpower to hold your money as a tool rather than spending every time you earn your money. It creates restraint and order in your finances and the respect needed for your hard-earned money.
A quick way to create the float is to enjoy free pleasures that don’t require you to spend money so you can get out of the habit to spend money. Once you have created the float you can indulge yourself back in it but this time your mind won’t be fixed on the dopamine hit but rather if it is necessary to spend.
Please note this is an experimental process I have been working on for a few years and it has changed the way I have felt about money, the scratch of spending has been diluted and the challenge to hold on to the money to spend on this necessary is very rewarding. The way I see it is if you don’t respect your moeny it will not respect you and if you choose not to respect it then you can send it to me, i will gladly accept it ;)
Kindly
Afzal: Servant Of God Almighty: The Universal Teacher