It always amazes me that people think when you make a lot of money, you quit worrying about how you spend it. Personal finance just doesn’t work like that. I just had a meeting last night where this multi-millionaire was overjoyed to get set up on Mint. Over. Joyed. As I was leaving, I started thinking back to the other multi-millionaires I have worked with…if they weren’t tracking already, they all appreciated learning about a tool to help them do that more easily.
So why do the “normal,” non-millionaire people resist it so much? Sigh.
Now, I don’t want you to get all caught up in blaming and shaming yourself about not getting started yet, or for not looking as closely as you think you should. That’s not what this is about.
This is about creating space for clarity. That’s it.
It’s about taking a small, doable, no-brainer step forward. What would that be for you?
Maybe you would like to do a bit more research before committing to Mint (I can see you rolling your eyes, because this is umpteenth time I’ve mentioned it).
Or perhaps you’d like a higher-level understanding of the process of tracking your spending. You can find that here.
Got debt? Use this handy calculator to see when that will be paid off, and play with adding an extra $10-$25 per month, something easily executed.
Oh, and I always, ALWAYS say you should build an emergency fund in conjunction with paying off debt. Keep it in a high-yield savings account, like one of these.
The point is, this personal finance stuff can be a lot easier than you’re making it.
People get paralyzed, because they get so afraid of doing something wrong, that they don’t do anything.
Never, ever in my 16 years of doing this have I ever told someone, “Oh no, you did it wrong, we can’t fix any of this…” :o)
Millionaires are millionaires because they started. That’s it.
So this week, just resolve to start.
Give yourself some space for clarity.
Don’t beat yourself for not being where you want; celebrate how far you’ve already come. Even the decision to start doing more is awesome.