In my last post, I talked about 7 different ways to begin building Wealth.   This gave you the chance to brainstorm and do some long term planning and thinking about goals to set, actions to implement to get out of debt and build long term Wealth.   But what about all those suprises and curve balls that life seems to throw at us?  The unexpected that comes, especially after we think have gotten our plans all set and implemented.

That is exactly what just happened to our family.   This change forced us to make some very tough calls concerning our budget, Money and ultimately our lifestyle.   The situation?  Higher school costs, and higer taxes coupled with a reduction in pay at work forced us to re-evaluate our budget.  There were unpopular decisions that had to be made as we downsized ourselves to cope with less income and still pay for the higher cost of school.  This is happening everywhere - the downsizing of people’s budget is not an uncommon thing, in today’s economy.  Yet, we must deal with reality.

These 5 suggestions will help one downsize effectively and make this process as painless as possible.

1. Let as many areas of your budget "Share the Pain" in your downsizing.  In our family, 7 areas helped absorb the extra costs.  Three people’s weekly allowance, the weekly food allowance, the monthly allowance for the next car, charitable giving, and our retirement savings all took a hit to help us keep the budget balanced AND yet achieve an overall balance in life.

2. Evaluate whether you need to possibly look for more work or Money making activities.  It could be as little as weekend work, or as big as a career move, or starting your own business (home business or otherwise).   Remember one of the three ways to make your finances balance, is to make more Money.  The other two being cutting expenses, or making more income and cutting expenses at the same time.

3. Take responsibility and be determined. Dont start spending more than you earn!  Make the necessary adjustments regardless of how painful.  Lots of people, when faced with higher costs, turn a blind eye and just "hope everything turns out OK".  Wrong!  You cannot assume. You cannot hope for a miracle. You must take action and stick to your budget.  And yes, It can be done!

4. Be sure and look long term.   Our decision this month to cut back was the result of looking down the road (14 months ahead to be exact) and realizing there were higher costs ahead.  Look into your financial future as best and as far as you can and look for situations that might need some advance planning.  The sooner you find out that you need to adjust, the easier it will be to make the actual adjustment.  Wouldn’t you rather have 14 months to save for an upcoming expense versus 2 or 3 months?

5. Budget Master, make sure you have the agreemennt of your spouse. Make sure all other family members understand what is happening and why it is happening.  It is tough to downsize.   It is impossible to downsize without your spouse’s support!

Taking action ahead of time, making the proper adjustments, and sticking to your plan will keep you out of trouble.  Times like these make having a plan and a system to keep your plan all the more critical.  "The Allowance System – Wealth Secrets For Adults" will help you create a good financial plan and give you the system that will consistently allow you to stay on top of your finances. 

Best of Success,

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

A lot has changed economically in the last few years, and most of it is not good. Today’s economy demands a much more frugal and much more critical thinker when it comes to spending Money.  Quite simply, most are either making less Money, paying more for the same exact items as we were a few years ago, or getting turned down for loans. You may have experienced one or more of the above already and know exactly what I am talking about. 

It is more important than ever that you realize that times are tough and may not get easier for a while!  It is more important than ever, to realize you need to change your living and adjust to the times.  It is more important than ever to plan to make sure that you do not fall victim in these times and that you get ahead financially!   Yes, it can be done! Tough times wont last forever, but tough (prepared) people will. You need to make a plan to change your lifestyle and keep your finances afloat.  Those who do not plan will surely suffer for it.

One way to survive this downturn is to make sure all monies are spent wisely. To make sure you spend wisely, a good plan and a good system is needed. 

"The Allowance System – Wealth Secrets For Adults" will help you create a good financial plan and give you the system that will consistently allow you to stay on top of your finances. 

It is now more critical than ever in these tough times not only to be wise spenders, but to build Wealth as well.  Let me show you how and help you today!  Check out my New Book…

Click Here To Find Out More About My New Book…

Not only have I become completely debt free, but I’ve helped several others organize their budgets, implement an allowance system, and get them on right track to financial freedom. And now Ican help you!

Best of Success,

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

This Is The Single Best Way To Stop Being Frustrated With Your Finances

If you were to ask someone to tell you the best way to end their Money troubles you would probably get a different answer from every person you asked. 

Some would say if they could only win the lottery, others might say if they could just make a few hundred
more dollars a month, or get a nice raise this year.  Others would say to get more education or get a promotion.  Yet still, others might add they need to do better on their budget or even read a good book on finances. 

Yet, the single most important item that helps people get on sold financial footing is not any of the above.
While making more Money certainly does help, it is not the "making" side of the Money equation that ultimately solves the Money dilemma.  It is your spending!  You have heard of the phrase "It is not what you make, but what you spend" that matters.  

Who is better off?  Person A making $100,000 a year but spends $102,000, or person B who makes $50,000 and spends $48,000? 

Person B of course!  Despite making half as much, Person B is $4,000 ahead financially than Person A. If that continues, in 5 short years, Person B is $20,000 ahead. That is enough money to buy a nice used car.

How do you get a grip on your spending?  

It all starts with your mind, and the knowledge that your spending is even more important than your earnings.  Making more money is great and desired, but spending less than what you earn is even more important.   In my New Book,  "The Allowance System – Wealth Secrets for ADULTS",  I talk about ways to get your mind keenly focused so you spend your hard earned money wisely.  I also give you tools to take that knowledge and use it wisely and effectively to accomplish money wisdom and tell you the best places to quickly accomplish your money goals.  

Click Here To Find Out More About My New Book…

Not only have I become completely debt free, but I’ve helped several others organize their budgets, implement an allowance system, and get them on right track to financial freedom. And now Ican help you!

Best of Success,

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