Monday, August 4, 2014

Taking Control of Your Finances with Laura Gilson

Taking Control of Your Finances with Laura Gilson

Everyone acknowledges that they could live in more power and peace of mind if they had control of their finances. The question becomes why don’t you have control over your finances? Do you fall prey to these assumptions:
  •  You only need to manage money if you make a lot
  •  You can’t afford financial help or advice from a professional
  • That it’s normal to be in debt
  • Riches are out of reach to me
  • You have to be smart or some guru to be good with finances
  • You don’t make enough money
  • Tomorrow and retirement will somehow workout
  • You have to choose between lifestyle and saving
You have money, it may be a lot or a little, but if you are reading this, you have money.  The issue is not having it,  it is an issue of “using” or “managing” it.  If all you have is $5.00 it still has to be managed.  What you choose to do with that  five dollars does matter!  The truth is the smaller amount you have, the better manager you need to be. If you find yourself saying words like”I don’t have any money” as a reason  or excuse for not living the way you want,  I want you to  STOP and ask yourself if what you are really saying is, I don’t want to talk or be accountable for my current money situation”Your words will become a self fulfilling prophecy.  You get what you speak and expect.  If you want to take control of your finances you must speak it.  You can use phrases such as:  “I choose to use my money for other things right now”, ” I have other priorities that are more important to me at this time and I am using my money to satisfy those priorities”. Do not become the victim of your money, you are seeking control  not powerlessness. If you want to take control of your finances it all starts with an awareness. Be aware of where you are in life.  Be aware of other options and information that broadens your choices.  Be awareness of your financial numbers and the story they tell.  Be aware of your relationship with money. Most people fall into three general financial profiles:
  • You spend above your means
  • You spend just what you have
  • You spend less than your means.
There have been studies done which show that 90% of the world’s wealth is held by 10% of the population, and that even if this wealth were redistributed equally, it would be back in the hands of the 10% within seven years.  This illustrates that most people would find it difficult to change their normal spending habits. The first skill that must be mastered to  guarantee personal financial health is your spending habits.  Once you become aware,  action is necessary.  Taking different actions repeatedly, each day, even when its’ tough results in new habit patterns. People often say that they want to take control of their finances, save more money, or get out of debt, but if you haven’t yet made a plan or commitment to change, NOW is the time! 

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