FOR THE LUV OF MONEY

​​FOR THE LUV OF MONEY

Welcome baacccck. How was your Valentine’s Day!? Do something special… for yourself at least?? I hope so xoxo

To continue this love fest-of-a-month going, I wanted to talk about the Luv Of Money. Now I don’t mean greed, or being materialistic and money-hungry, but I mean how you love and care for the money you have, and the money you pray to receive.

Ever heard of the compound effect? It’s a book (insert link) I highly recommend every and any one to read. In summary, it is the idea that we do not need to make constant huge gestures and advancements forward in order to see change. All we really need is small, slow, steady, and consistent progress in any area of our lives, and eventually we will see the major change.

Where have I seen this for myself? BODYBUILDING. Whenever I start a prep, I am at least 20 - 25lbs above the weight I usually am on stage. Looking in the distance is not only intimidating, but quite frankly discouraging. All the hard work, sacrifice, mind games, and all that come with this beloved hobby can easily make me want to quit. But all my coach asks of me is to follow the plan he’s given, in hopes that it knocks off 1lb per week. Just One. Why? If I lose too much too soon, it’s quite likely that I am losing muscle as well. I also may run myself into the ground with exhaustion and eventually quit. Has this been a theme in your life before?

So when it comes to money, it’s so easy to feel like in order to make an investment in our careers and overall life, we need large sums of money and we need it now. And the truth is, for many of us, the money is already there. Hidden in the day-to-day spendings, the convenient gadgets, the subscriptions we barely use, the drink after the drink we said was the last drink, and so on.

This level of awareness hit me like a ton of bricks when it came to starting my tax preparation. Usually, I am scared to send in every single document to my accountant because I didn't want to know how much money I needed to scramble together, and how much time I needed to do it. Do you know one time….(come close I don’t want everyone knowing my bizness)….I owed $5500 and I had 2 weeks to do it. We won’t get into how that all went down, but let’s just say I learned my lesson lol. So this year, I decided that for every check I got, 10% went to a savings account just for taxes. This included whenever I saved money on a deal or got some unexpected money in my pocket. The result? $3000 sitting in the bank, sipping a Pina Colada and possibly preparing to hang out with Uncle Sam.

My point? For many of us, the money is there. You know, the money you need to invest in the thing that you want to invest in you eventually. So how can you be more diligent in your spending? 

• Setting a budget

• Purchasing needs before wants

• Creating an account for savings (that you can’t easily touch)

• Having a “savings buddy” that you can have a little savings competition with

• Writing out daily expenses, and differentiating between needs and wants

How can you begin to love the money you have, so you can appreciate the money you desire? That’s our question of the week! I’ll be thinking on this as well, and I hope to hear back on some of your ideas.

Til next time, treat every week like it is YOURS because well...it is ✌🏼