Are you in denial of your ability to manage your money?
Caroline Jean-Baptiste
?? Buy That House & Build a Financially Fantastic Future ?? Empowering first home buyers, families & investors to take control of their money, mortgage and financial goals through property ownership
You may earn a lot of money or think you earn a lot. But are you spending it wisely?
If you've been able to buy your home, well done! But are you paying it off or are you making the minimum repayments to fund a lifestyle? Are you checking your rate regularly and taking responsibility to manage your money and sock a little away each pay? Do you have at least 3 months of expenses put aside for emergencies? Or do you keep a credit card for that instead?
If you're carrying credit card debt or personal loans or if you have consolidated your credit card debt into a personal loan or your home loan more than once and still haven't changed your behaviour, then you might have a problem. If you don't clear your credit card every single month and you don't have any savings and you think you're in a good position, because you earn a lot, you're in denial.
If you're earning a lot of money, you should have a lot of savings. You should be reducing your home loan really quickly and getting ahead. You should be building a strong financial future for yourself.
People often live on a lot less and the average wage in Australia, which is currently around $80k.
People earning over $100,000 a year think they earn a lot so they feel as though their spending is justified. Even those earning over $300k feel the same but many are just treading water, paying off a luxury vehicle and taking their families on overseas holidays, on credit. If that’s you, you probably work pretty hard for it too, so you probably feel that you deserve to treat yourself.
The problem is that you continue to spend - often mindless spending without real thought or awareness of just how much you’ve spent this month.
Am I ringing any bells? Triggering any thoughts? Does this sound a little like you?
Is it time to take responsibility for your spending, step up and be accountable?
Is it time for you to start thinking about your future? How nice would it be to have your house paid off, own an investment property or two, be able to live a very comfortable retirement? Don’t you owe that to yourself for all your hard work rather than another new dress or another new pair of shoes?
If you’re in denial, make a change now.
Create a budget, live to your means, save money, pay off debt, pay down your mortgage.
Find a Motive, Own your now, Negotiate, Evolve your Habits and remember, it's YOU that needs to make the change
You’ll be thanking yourself one day.
I can help get you back on track.
Caroline
Award-winning Lawyer | Resumption and Property Law Specialist | Keynote Speaker | Business Coach | Our clients achieve two outcomes ? a great understanding of their rights & what they can achieve ? great customer service
6 年Thanks Caroline, I agree with your sentiment here, we have made our short term goal to get our home loan paid off and own a few investment properties. It is hard and disciplined work but we are getting their.
Owner - Buyers Agent at W.H.Y Property Investment
6 年Really great that you are talking about buffers and having people think about their finances
Self-Publishing Expert ?? Professional Book Publishing Services ??? Non-Fiction Book Specialist ?? Publishing Strategy & Management ?? Business Book Publishing Partner ??
6 年Great points to thinks about as we head into the weekend. looking at the budget, or lack thereof, is something I have been planning to do for months. Thanks for the reminder.
CEO of Breathe Me * Breathing Expert * Keynote Speaker * Author * Wife * Mother
6 年Great post and a great reminder Caroline. It is important to plan for how you want to live in the future and begin creating the financial habits now to support that!
Personal Growth Specialist * Professional Speaker * Facilitator * Best-selling Author
6 年We have found over the years that my husband and I have different ways of managing money and now we apply our personal strengths to different parts of our financial world.? He loves researching - so he gets to do all of the investigation and long term planning and I love detail - so I manage things day to day.? So we use each others strength to ensure we have all bases covered.