There’s a hole in my bucket

Ever wonder where your money disappears to?
If you don’t keep track then you are going to spend all you have.
Even trying to save means that you find an excuse to spend without a clear focus for your money.

What do you need to do? Have a reason to save.
And I’m not just talking a couch or a new car. Think big, but act small – the mere act of knowing what your money is for is the key to saving more, spending less and starting life long habits to do more with your money.

So how do I start, you ask?
Well, first we define your goal. Not your parents goal for you, not your partners goal, but yours.

It has to be something that really resonates and makes sense as a place to start. It can be $300 so you can go to a hairdresser for the first time.

Or it can be $100,000 as a safety buffer to get yourself out of a crappy job you hate, so that you can have some time off and not stress about getting a new job straight away.

Whatever your goal is, it needs to be defined in a way that works for you. Generally we set up a new bank account, and start allocating money towards it. The more “spare money” you have, the quicker you can reach your goals.

A simple way to track this is to have something that you can visually see your target getting closer. It might be a colouring in picture where you colour in the stars, or a thermometer like the fundraisers at the shops, or it could just be your bank balance. Having that visual clue to where you are at makes it more real.

Then we go hunting. Look for more money – what can you save without trying? What could you give up to put towards your goals? Where can you find more income that will get you there faster.

With this mindset, we start thinking outside the square. We might do things a little differently so that we can hit our goals faster. And the more we see progress, the more progress we want to make.

Unless your goal isn’t right for you. If it’s not aligned you will find other ways to spend that money. It may be subconscious (and more bills rock in) or you may not believe that you can achieve it. This is where a coach or an accountability partner can be on your team, to help you define further what you really want, and can help you keep the momentum going.

With your leaky bucket, we are going to plug the holes, label the bucket, and start filling it up!
What’s your bucket going to be called?

Keen to chat?

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