Do you prepare a budget for your household? If not, you’re in the majority. Nearly 3 out of 5 people don’t, according to a U.S. Bank Possibility Index study.
We must confess: we don’t prepare a traditional budget, although we have in the past. Now, we practice what we call “unbudgeting”.
We discuss this on The BIGG Success Show today. We’ve found it fits us more naturally than traditional budgeting. See if it makes sense to you.
9-time New York Times best-selling author, David Bach, joins us to share the secrets of financial freedom from his new book, The Latte Factor. This show is made possible by FinancialFreedomTool.com.
Today’s show is part of our special podcast series for Money Smart Week – coordinated by the Federal Reserve Bank of Chicago to help individuals and families better manage their personal finances. Learn more at MoneySmartWeek.org.
Today, on The BIGG Success Show, we’re thrilled to talk with David Bach, one of the most trusted authors of our time. He’s written nine consecutive New York Times bestsellers, including two that hit #1.
Asking better money questions is one of the keys to getting the future you want, says Veronica Karas, author of the new book, Money Matters: Everything You Should Have Learned in School but Didn’t.
Now we’re ready for the second step of finding abundance:
Build in Reserve Capacity
Many people today are trying to sprint through the entire marathon. To run that pace for a short time may be fine. But to run the whole course at that speed only leads to wearing out long before the finish line.
In your schedule Finish strong by building reserve capacity in your schedule. Here are some suggestions:
You start to do this by setting your direction. What does bigg success mean to you? Bigg success is life on your own terms. What does that look like? Get a clear picture of it in your mind.
With that vision, focus every day on the things that are the most important to getting there. If it doesn’t move you toward it, stop doing it!
Then honestly assess how much you, as a human being, can accomplish in a day. Live as a human, not a superman or superwoman. Live like a human, not a machine or a robot. Leave yourself some breathing room when you plan your day.
Also plan for the unplanned. Things will happen that will need your attention. Projects will take longer than expected. Opportunities will present themselves along the way.
If your schedule is jam packed, you won’t be able to take advantage of them. Or your bigg opportunity may pass right before your eyes and you’ll be so busy you won’t even notice it.
In your budget Once again, it comes back to what life on your own terms means to you. When you look at what you’re spending money on, are all expenditures moving you closer to that dream life?
You know where you want to go. You know how fast you want to get there. Sometimes that means creating abundance for the future by creating a reserve today.
When you have money in the bank or money in your investment account, you feel a sense of abundance, don’t you? It’s only human. So let’s do it:
Eliminate every cost that doesn't move you closer to where you want to be. Take the money you save and stash it away.
Another great financial reserve is reserve borrowing capacity. It’s not an asset in the strictest sense of the word, but it sure is an asset when your bigg opportunity presents itself. So build reserves to live in abundance. That’s bigg success!
Thanks so much for reading our post today. Please join us next time as we discuss the third step to living in abundance. Until then, here’s to your bigg success!
https://biggsuccess.com/wp-content/uploads/2020/07/bigg-success_stacked-1080.png10801080George Krueger & Mary-Lynn Fosterhttps://biggsuccess.com/wp-content/uploads/2015/07/BIGG-Success-Nurturing-Your-Inner-Entreprener.jpgGeorge Krueger & Mary-Lynn Foster2009-10-21 02:00:342009-10-20 18:54:35Step 2-Find Abundance in a World of Scarcity
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