My goal in September was for us to all track our spending so we can could ease into creating sustainable budgets. And since even when we all want the same outcome, we all work at different paces and paths, I want to give you different options for building wealth in October based on your "Team."
#TeamNoTracking: Right away I heard from some of you, that you did not want to track your spending and instead wanted to focus on putting a fixed amount towards debt, savings and/or investing and spending the rest freely. Those of you who are choosing to budget this way have mastered the Pay Yourself First Method.
#TeamDontQuit: Others were willing to try tracking their spending to collect data but stopped after a few days. If this is you, I want you to take the next hour to track your spending for September in your copy of this google sheet. I know what it's like to start a habit with enthusiasm and then find the task tedious or frustrating. You are NOT lazy, destined to financial problems or irresponsible! You are human and change takes time.
#TeamIGotThis: Then there were people who felt so comfortable with tracking their spending that as soon as they saw the google sheet they started making a plan for their dinero. Without even looking at this Spending Plan Checklist.pdf, their brains already started to divide their money towards their various priorities.
Whatever team you are on, I want you to reflect on the following questions:
1) What purchases did I make in September that I want to make again in October?
2) What progress did I make towards building an adequate emergency fund, paying off debt, saving for short-term goals, and/or investing for retirement?
3) Which of the following actions do I want to commit to in October?
Make a copy of this October Google Sheet and track my spending to collect more data regarding my spending habits
Try an app that I can link to my credit cards, debit cards and checking account to track my spending for me (App Suggestions)
Use the Spending Plan Checklist.pdf to make a plan for my October dinero
Focus on reducing spending in one category to send more money towards a financial goal
Focus on increasing income to send more money towards a financial goal
Schedule a meeting with Soledad to review my data and come up with some next "wealth builder" steps
I would LOVE to hear your responses to the reflection questions above. Please consider emailing me your responses or sending me a picture via Instagram DM. I want to support you in building wealth poco a poco!