Wallet Based Values

What does your spending say about your values? Where do your dollars, euros, pounds or other currency go?

Make a list of where your money goes each month. Some common items can include:

• Mortgage or rent payment
• Food- groceries, snacks, restaurants
• Cars- loans, gas, maintenance
• Church, charities, organizations
• Medical & dental care
• Knick knacks, etc.

Now put an average dollars spent with each category. Which is your highest? Where can you cut costs if necessary? I hope it doesn’t show that your values are all about you. Invest in other both time and money. Someday you will need help from others. Ask yourself the question– If someone were to see my expenses without taking with me, would that reflect what I want them to think about me?

This can also reveal if you can manage your money (or moving deeper into debt). Do you have a plan to get out of debt? Here are a few things to looks at to reduce expenses, increase income and help with debt:

• Try to make a little more money at your job. Hourly wage earners ask to work a few more hours. Salary personnel should ask their supervisor how they can move up the ranks to earn more.
• Get a second job. Be careful with your time, don’t let this take away from your relationship and quality time with your family.
• What can you get rid of? Sell it on Ebay, Craigslist, at a yard sale. This generates a little income and can clear a little clutter in your house.
• How many cars do you need? Family of two adults and 2-3 kids; do you really need three cars? Sell the extra one to save on the monthly payment, insurance and maintenance.
• Wait for the movie to come out on video. Renting it ($4, someplaces $1) versus in the theatre with popcorn for two adults ($25-$30 plus babysitter).
• What about your favorite possession- TV. What channels do you normally watch? Can you get by with the basic package instead of the Digital Premium Pack? (I have a bunny ears antenna that I bought for $30 a couple of years ago. We get the main networks and thats all we need.) If you miss a show, now most of them are available for online viewing for free, at least for the major networks.
• Learn an in demand hobby or skill. Then sell your services as a freelancer locally or sites like Elance or Guru.com.
• Cook dinner at home more instead of going out to eat.
• What can you do without for a few months?
• Do you have any reoccurring monthly bills/charges that aren’t needed?

For more tips check out: http://www.danburrell.com/?p=502

Improve your finances and let it speak your real values,
Sam Carrara