Have you ever noticed that almost everyone talks about what they CAN’T do instead of what they CAN do? For instance, you convince yourself that all these myths about budgeting are true just to say you can’t do it instead of actually trying.
“We can’t have a budget because we just have a hard time sticking to it.”
“We can’t save any money because we don’t have any extra money to save.”
“I don’t know how to fix my money problems so I can’t do anything about my current situation.”
Oh yeah, I know you. You know how I know you? Because I was you. I said all those same silly can’t phrases all too often. I was queen of stating stuff that I can’t do. Our financial situation didn’t start changing until I stopped saying can’t and realized that I can. YOU CAN. (do the can-can … just kidding … but who else is singing that in their head right now?!)
Back to seriousness – I realized that you aren’t going to stop saying can’t until I give you a reason to stop. You are not going to keep leaning on these myths because they’re not true, and it’s just an excuse for you to not to do anything about the current money problems you have. Which then causes you to have even more money problems. Until you really can’t handle it! (that’s a joke, you always can – no matter how screwed your money situation is right now.)
Get your can-can pants on and let’s get to busting those myths!
1 – When you’re on a budget you have to give up the life you’re living now
This one makes me laugh the most. You know why? Because the reason why I have a budget and why I’m saving money is so that I CAN live the life that I truly want. You don’t have to give up the life you live. You’re MAKING the life that you want to live.
The sad thing is, when you think this way you know deep down that you have a problem. You know just how screwed up your financial situation is – and know that you’ll have to make some changes in your life, maybe even drastic ones. Yes, you may need to make changes but you can still have a fun life while being on a budget. It’ll be even funner when you’re not as stressed about worrying about the money problems you have stacking up.
I guess people just like all the stress that comes with those money problems. Little did you know that you can have an even better, stress free life that you feel completely good about when you actually create a financial plan for your family.
Because so many people are so worried about having to completely change their life, I proved in my course that there are numerous ways to reduce your expenses that you don’t need – while still living that fun life you think you’ll have to give up. 99% of the time, they’re expenses that you don’t even realize you have. Some of the extra stuff you’re paying for on your insurance, phone bill and even groceries are stuff that you don’t need and won’t even notice they’re gone. The thing you will notice is more money in your account. Pretty sure you’re not giving up your life … you’re just giving up the right for your money to control you and instead you control it!
2 – I’m way too late to fix all my money problems now – there’s no hope for me
WRONG! This is just another excuse because you don’t want to feel guilty for not knowing how to handle your money. You’re too afraid to admit that you have problems and need help. Or, you’re too afraid of putting in a little effort to make it happen.
It is never too late to fix your finances. Let me repeat that … IT IS NEVER TOO LATE TO FIX YOUR FINANCES. And honestly, right now is the perfect time to start! It’s not scary to create a financial plan and stick to it. What’s scary is that you have to put in a little bit of effort. But with that little effort comes a whole lot less stress. I’ll take less stress over more effort any day!
A lot of times, you just don’t know where to start. You just want someone to tell you where to start when creating a good budget and financial plan. There are plenty of places to look for help (and by the way, you’re totally in the right place because it just so happens that I know where you need to start). Most of the reason why families fail is because they don’t have a personalized financial plan that is specific for them. Your starting point is making it specific to you and your family – by following this free mini course you can have one created in no time. After you have a financial plan created you can move into other stuff … (okay, this is sounding a whole lot easier than you made it out to be).
Want to start actually paying off your debt? Done. Want to start saving up for that family vaca in Cancun? Done. You can start planning for all of those and more. Once you learn the easy to follow steps to create your financial plan, pay off debt, save money and even reduce expenses – you’ll realize that it definitely wasn’t too late for you and you’ll be glad you finally did something about it.
And if you’re a definite overachiever, this course has a few tips that shows you ways to achieve all of that even faster.
3 – I can’t have a budget/ financial plan because I have irregular income
This is totally wrong again! (I think you get the point that all of these myths are wrong …) This is such a popular myth that I even wrote a whole post about it. No matter what type of income you have, you can have a successful financial plan.
All you have to do is take your lowest income month and use that as your starting point every month (this is where most people mess up). That way you’re covered in your lowest months and you have plenty of extra in your high months.
If you’re a business owner, have multiple jobs, a single parent or a freelancer you can have a personalized financial plan in no time. There’s no reason why you can’t have a strong, prepared financial family for your life. (if you want the free workbook that helps create your financial plan when you have irregular income then check out this free mini course).
4 – I don’t have enough income coming in to have a financial plan or do anything else like save money or pay off debt
Again, this is just another excuse for people who don’t want to put in the work. If you think you don’t have enough income coming in then you need to have a financial plan more than anyone!
You could have plenty of income coming in, but just overspending a little, and don’t even know it! By creating a personalized financial plan you can see where your money holes are and how much more you need to make.
Because I like to be real honest … If you want to go on that family vaca to Cancun – or not feel guilty about getting a massage, be able to stay home with your kids, or even just feel proud of the life you live – then you’ve got to find ways to increase your income. I know what you’re thinking, “But I don’t want a second job!” or, “I already have a second job!” This isn’t the type of income that you may be thinking about though … This isn’t a second job type of income. It’s so easy to find some extra side cash to pay the bills, pay off debt or put money in savings. Like little jobs that you can easily find and do on your computer.
99% of the time, you do have enough income coming in. You just don’t know where all of your money is hiding and need some help getting it back.
There you have it … The 4 most common myths about money that so aren’t true. If you have any other money myths you think are true then let me know and I’d be happy to dispel them!