Simple Wealth Steps #6 – Efficiency not Scroogey

I think there is a general misconception amongst people who want to be wealthy that wealthy people don’t need to be frugal or carefully watch what they do with their money but the fact is that wealthy people got to be that way because they are very conscious of what happens to their money and they are always watching what they do with it. They regularly look for ways to reduce costs and save money.

There’s a good reason for this.

If you have not noticed it, as your income has increased over the years, so has your expenses. For most of the population, their cost of living is dictated by their income. However a small percentage of the population have worked out that if you consciously control and reduce your cost of living you can create a surplus that will allow you to become financially free.

And there is more to it than meets the eye! If I offered you two choices

  1. A $100 a week pay rise or
  2. $100 off your grocery bill each week

Which one would you choose?

If you are smart you will take the groceries option every time because you will be heaps better off!

A dollar saved is worth a lot more than a dollar earned because your earnings are taxed. A dollar extra earned may add little more than half a dollar to your take-home-pay once the tax man gets his hands on it.

Now you may feel like you couldn’t be bothered to be forever comparing the price of product A with product B and saying “No” to things that take your fancy when they take your fancy because you are trying to save money all the time, but that could well be because you are so exhausted and/or frustrated from working hard to earn dollars that are only worth half the effort you put into earning them.

So the key is to not have to feel like a scrooge all the time but to sensibly reduce your expenses so you don’t have to work so hard only to end up with nothing to show for it! Let’s face it; working hard is not so bad if you feel like you’re getting somewhere! It’s when you work hard and still have financial stress that working hard becomes depressing!

If you approach reducing expenses from the view that you want a better lifestyle rather than more stuff you are on the right track. I’m sure you have heard the saying “The best things in life are free”. You could spend almost nothing having a really enjoyable day and you could spend a small fortune and end up having no more fun or enjoyment than you would spending nothing.

You could climb a mountain, go for a walk in the park, pack a picnic and find a nice spot to eat  in the country, walk along the beach, read a book or do any number of low cost (and healthy things) or on the other hand you could spend a day at the movies, the shops, the theme parks, dining out etc etc etc and spend a bucket load of money.

And it’s not that you should never do any of these more expensive activities but you should always question what you are currently doing to be sure you are making the best choices. In my last email I made the point that you should always be asking the question ‘What else is possible”. If you keep this in mind with a view that you are always looking for ways to be, do and have better and be open to change and the fact that you could spend less and have more you will be on the right track!

Keep in mind also that your children do not need expensive toys, in fact time and time again I see my grand kids playing with the packaging from toys rather than the toys themselves!

Remember, kids are like emotional magnifying glasses. They focus intensely on one thing for a short period, only to move on to the next thing and the next and always totally focussed in short bursts. Giving them everything they want is just setting them up to be very unhappy adults when the real world is not so accommodating!

When I was a school teacher it was very obvious to me that all kids really want is attention and love. Count the number of times a young child will say ‘Look at Me’ in a day and you have proof of that. Don’t get sucked into thinking they won’t love you if you say ‘No’! Most of the kids I saw going off the rails had never been told ‘No’ and they usually had nothing complimentary to say about the parent(s) who gave them everything.

So give yourself an audit and ask the question, what am I doing now that I could do differently and be aware that your reality is not everyone else’s reality. What you think is essential is totally different to the person down the street.

In my Simple Wealth Steps course we spend a month focussing on this topic and exploring ways to reduce costs without feeling like a scrooge. It is easy to spend everything you earn and still be frustrated yet with a little effort you could spend less and be satisfied!

If you have not already enrolled in this 12 month program I really want you to give it a try so I am currently offering the first month for $14.95. That only just covers the cost of the pack I will send you. There is no contract so you only stay onboard with me for as long as you feel you are getting good value. I have hundreds of people who will testify to how it has helped them change their financial direction so why not give it a try?

You could pay thousands of dollars going to some fancy week-end wealth seminar and a week later have forgotten you even went, OR you could connect with me through the Simple Wealth Steps program and get a steady flow of positive constructive input with regular simple assignments, activities and thought provoking texts spread out over 12 months so you develop different habits and ways of thinking.

To have a look at the Simple Wealth Steps information at my web-site click here . Month one is now only $14.95 so there is no better time to put your toe in the water to see what the course is like. It might not be for you but it might just be what you are looking for!

Month one is now only $14.95 Click Here to find out more.

 

That’s all for today. Have a goody!