Guest post by licensed Right-Brain Business Plan® Facilitator Cass Mullane

Let’s talk about a high quality money habit: Having money in the bank to pay for a purchase before you make the purchase. Yes it’s tough, but it’s also healthy and wise and will pay off BIG in the long term. “Buy Now, Pay Later” seems to be the mantra these days. The Government does it, the states do it, we citizens do it. But does it make sense financially? Nope.

Go back to the basics:
• Know the real value of your money
• Know where your money is coming from and where it’s going
• Have clear financial goals
• Always put something away into savings
• If you don’t have the money for a purchase, don’t make the purchase

Remember the “old” way of doing business? You know, before plastic, when you actually saved up enough money to pay for something before you made the purchase? Do you remember “layaway” when a store would hold an item for you and you’d make regular payments to the store until you’d paid in full, then you’d take the item home with you?

Turns out, the “old” way of paying for purchases is pretty smart. It required us to be much more cognizant of where our dollars were going and whether or not a purchase had value in the big picture. We had to plan for purchases, earn the money to pay for them beforehand, then get the items. We understood the real value of money and were careful with how we handled ours. As a result, we didn’t carry the massive debt burdens many people are under these days.

Today, most people go to a store, swipe a piece of plastic and walk away with a purchase blissfully unconcerned about HOW they are going to actually pay for the thing. It’s always, “I’ll worry about that later.” And that’s how the debt grows… and grows… and grows.

Stop it!

You’re in charge of your financial habits. Step away from the register or the “Buy Now” button online, engage your brain and think about what you’re doing before you hand over the card.

• Does the purchase make sense?
• Is it aligned with your goals?
• Does it keep you moving forward?
• Are you under control and on track?

If you answered “no” to any of these questions, then it might not be a good idea to spend the money. It’s that simple. Create quality financial habits and make them part of your everyday thinking. Ask yourself quality questions before making a purchase. Bring in a coach or other professional to get comfortable talking about money and dealing with money. Make this your new mantra: “Buy Now, Pay Now.”
______________________________________________

Cass Mullane’s calm, comfortable approach consistently yields positive results for clients. Her business and personal coaching practice, www.ProsperCreatively.com, specializes in delivering solid left brain business skills to right brainers and creatives in a fun, visual way. Cass is one of our licensed Right-Brain Business Plan® Facilitators.