Strategies for Changing Your Money Blueprint
03 Nov, 2017 / By Jennifer Hamilton
Changing your money blueprint is actually very simple. All you need to do is change your beliefs when it comes to money. Additionally, you have to change the way you think about people who are well off and the way that you believe it affects your relationship with others and yourself. Once your beliefs about money change, you’ll find that your understanding of finance comes much easier. Here are six strategies to use to change your money blueprint.
Remain Balanced at All Times
It is crucial that you do not get stressed out over not having money or too happy when you have plenty of it in your life during a particular time. If you are having trouble making ends meet, and your heart skips a beat when your bills arrive, then it is important that you make changes right away. To do this, create a plan then implement it in your life. On the other hand, when you have money flowing, it is more important than ever to stick to your budget. A good way to do this is to look at your expenditures over the past six months and see which ones you can trim.
Combine Your Income With Your Passions
When you are doing what you love, then your work turns into your passion. When you love what you do, you will see an increase in your productivity and much less risk of burning out. Additionally, as you continue to develop your passion, you will continue to grow and thus see an expansion in your income. If you are working a dead-beat job, then it is highly recommended that you start looking into doing what you love. Although this takes courage, you will not regret trying.
Spend within your means and nothing more. If you find that you are overspending, then there are several ways to cut down on your expenses. For instance, you can cut up all your credit cards except for one, which you can use for emergencies only. You can also think about every purchase you make before you make it. You should also look into seeing if you can refinance your mortgage to obtain a lower interest rate. Lastly, ensure that you keep up to date on monitoring your credit report to make sure that no mistakes go over your head. If you do find an error then ensure that you have it corrected right away to avoid it causing you any troubles.
Do Something That Creates Value
Think about what you can do for others. How can you improve people’s lives and make them more comfortable? By doing something that gives value to others, your value will increase at the same time. Keep in mind that the more value you foster for others, the more financial opportunities will come knocking at your door. Even if an opportunity arises that does not have the monetary value you were hoping for, you should also consider the future implications that taking it could afford, such as future jobs that will bring in more income.
Create a Plan
If you are not where you want to be financially, then you have to stop doing all the same things when it comes to money, as you will only get the same results. Instead, of continuing down the wrong path, it is a good idea to work to get your finances back on track. To do this, meet with a financial advisor to create a plan that lets you see exactly where you are today and where you wish to be in the future. Having a solid plan will also give a feeling of hope, as well as a goal to work towards to complete. Once you’ve met your goal, keep in mind that it is just as important to set a new one so that you keep on the right path.
Current Income, Debt, and Savings is The Result of You
Many people think that their savings, debt, and earning are all caused by various external factors that are not under their control, as well as some mistakes that they’ve made along the road. However, when you change this way of thinking to know that you begin with certain wealth set-points, which has affected everything that has happened in regards to your finances, then you can take control of the helm again. Instead of putting the blame on yourself for your past money mistakes, you can know your financial set-points and then work to create new ones.