Overspent this Christmas?   Kinda wished you could have even gotten a few more gifts for family or friends, but know you just cant?   Is it going to take a while to pay off this Christmas?  While it would be awfully tacky to take back some gifts to even up the Money score, and carry around that guilt no less, there is something you can do to avoid that situation next year.   Thats right, pay off this Christmas as fast as possible.   Maybe New Years will have to be a little less glamourous, the thermostat a little bit lower, and the budget a little tighter for a while.  But once you do, you will then be able to work on saving for next years Christmas.

Most credit unions or banks will let you set up a separate Christmas account to set aside for Christmas.  If they dont, just open up a separate account just for this purpose.  Get one that pays interest if possible.  Save little by little each paycheck and by the time December rolls around you have a nice pile of cash to spend for Christmas.  Sure makes it easier on the budget, and a lot less stressful as there is Money to spend and you know Christmas spending is not putting you into or further into debt.  Isnt is much more fun to spend Money you have versus spending Money that you dont have? 

Here is what to do.   Figure up what you spent on Christmas this year.  Be honest and add up EVERYTHING.   Then divide that total by the number of paychecks you will receive between your starting date and December 1st.  That is about the amount of money you need to be depositing into your savings each paycheck to save the same amount of money that you spent last year.  If Christmas was tight this year, you might want to round up a little bit, so you will have more money to spend in December.

Just remember not to pull out any of that Christmas money till December, or only in emergencies. 

Merry Christmas!

"Money…its a hit" so sings Pink Floyd in the song Money.  There are few things that play such a prominent role in almost everyones life.

How many times have you heard people say "if I could just have a million dollars, or If I could just win the lottery life would be complete!"?   And yet in many cases, those that do win the lottery wind up a year or two later worse off, in trouble with the law etc, after winning a real lottery.   Why is that?  We want this thing called Money Sometimes more than we should!  One thing is for sure.  Money (whether having lots, or the lack of) changes us.  Money changes our outlook, mood, and attitude about ourselves and the world around us. We must be careful of the change it can bring.

Is money really a liberator or a captor?   It has to do with perspective.

Money in its purest form is just a means to an end.  A means to something you want.  Unless you barter or trade, you cant get the things you need or want without money.  What you get is usually determined by how much money you have.  If you dont have enough, you must wait till you have enough money to purchase.  Usually if we stay in a situation where it seems like we never have enough, we are driven to find ways to make more money.  In a lot of cases, greed motivates us to work more (i.e. workaholics), to spend more than we make, be dishonest (Bernie Madoff, Enron etc).  You get the idea.   So, of course, money is essential to life, you must have it.  What we do with the money we have, and how much money we "think" we need is crucial to whether money is a liberator or a captor.  Your attitude, value system, and life balance will determine whether money captures your life or not.  We will take the three angles of attitude, values, and balance and discuss.

Attitude

Attitude towards the earning of money is so important.  Do you think that you never earn enough?   Do you continually look for new ways to continue to make more money? Can you honestly say that if you earn X dollars per year that you will be content in your heart and mind?  If you dont have a figure in mind that defines "enough", you may end up chasing an elusive goal that you will never get to.   Deep down that spells a lack of contentment and a restless heart.  Define "enough" and be satisfied, and enjoy life!  If you dont, you will chase things to the detriment of time, family, church, and other intangibles.  Know and accept that someone will always have more. Be content where you are financially.  Might you be disappointed at times because you dont have the money you think you need?  Yes.   Better to be a few times disappointed than to spend a lifetime dissapointed because you think you never have enough.  If you are this way, money might have too big a grip on you.

Value System

Your values help shape your attitude.  For example, when you purchase something, does it always have to be new?  Does it always have to be name brand?   Do you always pick an item based on the lowest or the highest price?  Do you think you must have the best of everything?  Are you afraid that you will be looked down upon if you dont keep up materially with your neighbors?  Do you know the difference in paying top dollar for something because it will be an investment or because it will make you look good?   If you understand that material things are not all of what makes up life, then you will go a long way from overspending, and if you dont overspend, then it is easier to come up with that figure of what is "enough", and money will be less of a captor.

Balance

Balance in the whole of life will determine where you spend your money.  Where your money is, your heart will be also.   You can tell a persons determination of what is important by what they spend money on.   I suggest you have a balance between charity, necessities, and want to haves.  You cant spend all your money on charity, any more than you can spend all your money on "want to haves".  This is where the budget master of the house comes in and creates the much needed budget.   Periodically review the budget with your spouse if you are married.  It will help make sure you are balanced in your spending.  If you are balanced, you are one step close to contentment, and money becomes less and less a captor.

Check these three things in your life and within your family.  Determine what is "enough".   Dont let the things of this world captivate you so, that you think you must have them no matter what.   Make sure you have balance in your spending.  Use a budgeting system to achieve balance such as the "Allowance system" which can be used effectively for all members of your family.

If you are not debt free and are still paying off credit card debt or just know that your finances are not where they need to be, or just wished you had more Money each week, then you have the opportunity right now to turn that all around and change your life!

In my latest book – "The Allowance System – Wealth Secrets For Adults".  I teach you how to focus on mastering the critical areas that can make a huge difference in whether you live the desired lifestyle you have always wanted. 

These 7 strategies are part of my over all success system for eliminating debt and becoming financially free:

1.  Become a wise spender.

2.  Create an effective and manageable budget.

3.  Create an allowance system to save your budget.

4.  Save in the three biggest areas you spend Money

5.  Create a sensible plan to get rid of debt.

6.  Accelerate your debt reduction plan.

7.  Get started with your new found savings.

By implementing these steps, you will soon have the knowledge to get started on your new way of financial living. 

Remember this is a journey, a lifestyle change, and these are changes for the betterment of your life.  It is time to change and that time is now!  The changes you start making todaywill greatly affect you in the years ahead.  

Click Here to find out more and to get the step by step process to The Allowance System.

Best of Success,

 
David Dickinson
Author, Trainer, Educator, Entrepreneur
"The Allowance System FOR ADULTS"

Whether you are a sports team, a corporation, or just a family getting ready to go on vacation, you need a plan to get you where you want to go.  A football team for example develops a game plan to defeat the other team.  A corporation will put together a plan and several strategies to create, market, and sell their products and services.  The family going on vacation puts together a plan that says where they are going, when they will depart the origin and the road that will lead them to their destination. 

The game of Money and Wealth is no different.  You need to have a financial plan that will accomplish your goals. 

Are you spending more than you make? 

Are you spending all of what you make? 

If you answered "Yes" to either of those questions, I would suggest rethinking and coming up with a plan to start mastering your Money so you can stop falling behind.

One such way is to create a budget and use an allowance system for organizing and spending your Money.  It is an essential strategy to effectively gain Wealth and stay out of debt.  Simple and effective, a properly implemented allowance system in your family will give everyone the freedom to buy as they want, and stay within the family budget.

Other major spending areas can also beintegrated into The Allowance System, and your budget will now be a joy rather than a burden.

Best of Success,

 
David Dickinson
Author, Trainer, Educator, Entrepreneur
"The Allowance System FOR ADULTS"