1 copy of ?Good Debt, Bad Debt? by Jon Hanson
1 copy of ?Rich Dad?s Guide to Becoming Rich Without Cutting Up Your Credit Cards? by Robert Kiyosaki
1 writing instrument (pen or pencil)
1 pinch of willingness to change your spending habits
2-3 hours to sit down and really plan out what you want.
Sit down. Open notebook. With writing instrument in hand, write down, at the top of the paper, in BIG letters, the exact sum of money you would like to have in your possession.
Under this amount, write down an action plan consisting of what you THINK and FEEL you need to accomplish or perform to get the amount of money you have specified. Find out what price you will have to pay, in terms of value or service, to acquire the specified amount of money. Resolve to pay that price. (Keep in mind that, as you progress with your action plan, it will likely change somehow. The action plan you start out with, will not likely be the one that gets you there!) The action plan is a process of PLAN/DO/REVIEW. You PLAN the steps, you DO the steps, then you REVIEW and see if anything about your steps needs changed.
Look at your spending habits. Using the notebook, start a new sheet, and for the next 14 days, write down EVERYTHING you spend money on. Make like an accounting ledger. Write down the item(s), the price, where you got it, the time of day. Write down any sort of information that you can look back on after the end of 14 days and notice patterns such as:
1) Do I spend more money during any specific times of the day?
2) AM I spending an inordinate amount of money on any specific types of items?
3) Are there any items which I could do without, if it will help me reach my financial goals?
More questions and patterns will emerge. Truth be told, you may not like what you see. Stick with it. It works. It gets better. Promise.
Adjust your spending habits in accordance with what you find in the spending log. Notice, after 60 or more days, how much better you feel when you realize that you are taking money that was going through your hands already, and making BETTER use of it.
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