The Money Mastery program teaches 10 powerful principles for getting your financial life in order. Principle 2, “When You Track It, You Control It” is so, so powerful when applied properly to finances. The Weight Watchers program has proved out the magnitude of this unchanging and universal principle when it comes to losing weight as well. They teach their members about tracking what they eat every day in order to lose weight. When a person tracks what they eat and how much exercise they do, they can make better choices. The same is true with money, tracking income and expenditures provides good information to make better financial decisions.
The concept of tracking, whether its our money or food sounds simple, and it truly is. But most people don’t ever really emotionally commit to tracking, like they should. Consequently, there are a lot of fat people out there, along with a ton of people who are broke and without any savings. When done properly, it helps us understand ourselves emotionally, and this is what leads to ultimate control. It’s not just writing everything we eat or spend down, lots of people do that and they’re still fat and broke. It’s about learning what we value and what is truly a priority for us, both in the foods we eat and on which items we choose to spend. When we can see our own emotional landscape, which is only possible when we track, we make choices that are far different than they would be.
To learn more about how to get into emotional control using the principle of tracking, I encourage you to go to www.moneymastery.com and sign into the Basic Plan. This will turbo-charge your financial future and help you treat the emotional side of your life instead of focusing on just the numbers, which don’t tell the whole story about your finances. Learn more about how spending, debt, savings, retirement, and taxes are ALL tied, and must work together in harmony if you want to get in control of the emotions behind your money. Begin to see how financial success comes from controlling emotions, not money.