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Lather, Rinse, Repeat

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

In my last post, I gave you two money tips to consider incorporating into your life.

Here they are:
1. Skim 20% off EVERY payment you receive
2. Give up the ATM

So, how did you fare? Do you have some $$ already set aside for next year’s taxes? Have you got the beginnings of a safety net? Have you used a $100 bill lately? Did you meet someone at your bank? Are you developing the great habit of living below your means?

Good money habits take time and practice to learn and to make part of your daily thinking.

Get started now.

Consider this: If you received around $3000 last month, and if you had incorporated the first money tip of skimming 20% off every payment that came in, then today you could have about $600 socked away in your savings. At the end of this year, if things remain the same, you could have $7,200 set aside for taxes and for your safety net. Best of all, you could finally feel like you’re getting a grip on your finances!

How would that make you feel? Wouldn’t it be great to go online and take a look at your savings account and see it growing? You’d breathe a little easier, right? This is called living below your means. When you do, you feel like you are more in charge of your moola, and, therefore, more in charge of your life. And when you’re in charge of y our life, they sky’s the limit!

Of course once you get in the healthy habit of skimming off the top and watching your balance grow, you have to establish the second healthy habit of leaving it alone. Think of your moola as flower seeds that you’ve planted and now you’re watching them grow. If you yank them out of the ground, they will be gone and you have to start all over again. Ditto with the moola in the savings account. Forget you have it. No dipping in unless it’s a dire emergency. This is a savings account, not a disposable income account. Make smart choices and mind your moola!

One of the best things you can do to encourage a new habit is to experience success quickly. So here’s what I’d like you to try for the next two weeks:

• Lather: When you receive money of any kind, take a deep breath and set aside 20% of whatever you receive.
• Rinse: At the end of the two weeks, look at what you’ve set aside and, no matter what the balance is, pat yourself on the back, do a happy dance and celebrate your success at starting this new healthy money habit – You did it!

• Repeat: Do the same thing for another two weeks

I’d love to hear about your success, so come back and comment on this blog!

Join me at the third annual Right-Brainers in Business Video Summit 2013. This year’s focus is “Inspired Action + Authentic Impact = Increased Income.” AND I’ll be one of the Show and Tell Spotlights on Tuesday, February 26th with Bari Tessler. You don’t want to miss it!

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. You can also visit Cass on Facebook!Cass is is one of our licensed Right-Brain Business Plan® Facilitators.

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The Right-Brain Business Plan®