…Until They Read This!
What does it mean to personally manage your money? Well, I can tell you what it doesn’t mean. It doesn’t mean making money and spending money — after all, even little kids can spend money. Spending money is the easiest thing to do! True money management means coordinating how you will use your available financial resources to accomplish goals before you spend those resources. It means planning, organizing, controlling, and systematically directing how money will be used the most efficiently. Unfortunately, this idea of systematic planning is missing in the lives of most Americans.
Personal money management is also not a hardship, does not require denial, does not include arguments and abuse, and most importantly, does not mean going without. Let’s face it, we will always have more opportunities to spend money than we will have money to spend, or as we like to tell our Money Mastery clients, “you can have anything you want, you just can’t have everything you want.” In other words, we must learn to prioritize how we will use limited resources most efficiently or those resources will be gone before we know it. It’s fine to want things, but it’s not okay to want everything…we must make a choice and the only way to make the choice responsibly is with a system that lets you prioritize those wants so you don’t have to feel deprived while keeping you on track to use only that which you have available and nothing more.
You can assume right now that what you know about money is not sufficient in today’s society and economy. What you know about money management you have learned from family, experience, observation and tidbits here and there from your accounting friend down the street, or even from financial advisers — people who think they know, but don’t know you or details of your circumstances. The result is you will go through life making some good decisions but by and large you will be very inefficient with your money.
In my experience, most people don’t know what they don’t know about money!
There is a solution. It is to adopt the principles, practices, tools and techniques of the Money Mastery® program because it is the only holistic, broad spectrum personal financial program on the market today. This is a brave statement, but “holistic” is the key word. This means, in terms of money management and all the financial blessings that can be yours, a holistic program is the only way to go and will include the following:
- Plans for managing every aspect of your finances which are spending, borrowing, savings, and tax reduction.
- A means to direct each of those plans so they all work together, at the same time, synergistically.
- Someone with whom you must be accountable and who will provide follow up for you.
- Tools and techniques that help you follow the plans, including tracking programs and predictability calculators.
- Ongoing education and training and access to long-term resources.
Programs like mint.com do not touch upon anything but spending. What about how your spending is affecting your debt, savings, and tax burden? With Ramsey and Cummuta you get a wealth of information about debt and how to get out of some of it, but what about plans to help you learn how to control spending so you can stay out of that debt? And where’s their information on securing a predictable retirement and how taxes can affect all of that? Kiyosaki is just one upsell after another and Orman is focused mostly on investing.
Take complete charge of your money, and you will feel completely in charge of your life. The only way to do that is to realize that you’ve been trying to take charge with a tenth of the knowledge you need. Without a holistic approach, it doesn’t matter much what anybody tells you, you will never be in control of what you make.
For more information on how to holistically learn personal money management, contact Alan at 800-292-1099.