If you could develop your personal finances in any area whatsoever, what area would you pick?
The most common answer I get is “Greg, if I could just make more money.” I’ve been there, no doubt about it. I was working 40 + hrs. a week, grossing $80k a year (two income household), and couldn’t seem to save a measly $500! I knew there had to be a better way.
My wife and I had $17k in credit card debt, two car payments, and a mortgage. The one area of my personal finances I was convinced needed developing was the size of my paycheck. In retrospect, I realize how backwards my thinking really was.
I met a wise teacher who said “Making money isn’t the problem. It’s what you do with the money you’re already making (that’s the problem).” It’s like the front yard was on fire and I thought I needed more gasoline. Doesn’t make sense does it?
You think you have a math problem. If you could just ADD more money to the equation. I’m proposing, from personal experience, it’s likely you have a thinking problem. To begin changing a thinking problem (around money) we have to learn to SUBTRACT a few things from the equation.
This brings up immediate thoughts of lack, deprivation, and eating bologna and crackers for the rest of our lives. When I started getting out of debt quickly some of my friends were curious how I was doing it. I literally had an old friend say “Greg, what are you living on soup & crackers?”
The answer was, of course, no. I just listened to what my teacher told me and started paying attention to what I was doing with the money I was already making. I started making better use of my dollars. Not so complicated is it? The first year my wife and I paid off $17k in credit cards and my $6k truck note. So we went from can’t seem to put $500 in the bank to paying off $23k in debt in just 12 months! What changed?
We subtracted a few things from our thinking instead of adding more money to our wallets. The problem wasn’t on the outside, it was on the inside. Within a few months I knew I had to teach other people how to do the same thing I learned to do.
There is no magic pill with money. It takes time, discipline, and a commitment to change. And it’s not as hard as you think to get started.
Debt Shepherd teaches you how to begin your journey to financial wellness. No judgment, no criticism here. Just good folks helping good folks. Are you ready?
To Your Financial Freedom,
Greg Whitaker
www.debtshepherd.com
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