Money Secrets

One of the secrets to money management is perception. Do you ever wonder why so many people find themselves short of money, even when they have sufficient income? Why does the problem persist month after month? There is a perception problem.

Having a large sum of money (bi-weekly or monthly income) at once can feed the imagination.  Without taking time to sort through all the things that need to be done first, it may appear that we have more than enough to satisfy our needs as well as our wants. It becomes easy to visualize the things we want to buy and without hesitation or plan, the intention for spending is set. This scenario is repeated month after month and before we know it, we have developed a pattern that leaves us short of money week after week. Here is the good news. There is a solution.

Just as we unconsciously set an intention to spend, we can also set an intention for financial increase by changing our perception and visualization.  That sounds easy, but how do we do it?

Try this. One week before pay day, visualize the goals you have set or think about what you would really like to accomplish.  It could be new furniture, a vacation or perhaps a new home on the other side of town.

Set your intention by creating a separate bank account for each goal. Determine what percentage of your income you are willing to set aside to obtain your goal.  You may decide to put 10% of your pay towards a summer vacation. Or you could choose to save 10% of your income each month to purchase a home or relocate to a warmer climate. Another option is to work a part-time job and dedicate 75% of your income to your goal and 25% to a “fun” or self-care account. 

Knowing that you have created a self-care fund and a vacation fund can curb your unplanned spending, making it easier to take care of needed expenses on time. The key is to establish separate bank accounts and automatic deposits to these accounts. It’s also important to make sure these accounts are established at different banks, so you won’t be tempted to transfer funds between accounts.  

You will be surprised at the peace of mind you will experience just from knowing that you have money put away if you really needed it. The self-satisfaction of creating and implementing a financial plan may also reduce the need to satisfy yourself with retail therapy. You can enjoy the satisfaction of having money rather than spending it. Say hello to peace!