Skill #5 Taking Action
Skill #5 Take Action
There is no point knowing something if you do not apply it. To Know and not do is still not to know.
If you're listening to me know I hope you'll have got your personal spending habits report and started to explore your Money Dashboard. But though it might all be interesting it's useless unless you take action.
You have to start somewhere. Think of it this way, you are not a victim to money. Money does not control you. Money is inanimate, lifeless. Your habits and choices and skills and attitudes are the deciding factors.
We've talked about spending less than you earn, which makes total sense right?
We've talked about paying yourself first and saving 10% of your after-tax, take-home pay.
We've talked about setting aside money for emergencies and learning to live of less than 70% of your after-tax, take-home pay. We know it's acheiveable and in most cases you can get your finances under control within 90 days and even be debt free but none of that will happen until you take action.
You may have to set some targets. It's not easy negotiationg a new phone rate or gas bill or switching energy providers. You might need to trim your spending starting by eliminating items you don't really need to buy. You don't need new shoes each month. Or a playstation. Or an mac on a payment plan. You don't need to spend £180 per week on alcohol.
You might need to get uncomfortable and take on some accountability around managing money.
You may need to develop new habits. And I get it. That can be hard. But having committed to the journey so far, I urge you to commit to yourself. I promise you that even taking just 2 minutes a day to check your Money Dashboard will create huge benefits for your financial futures.
If you got this far in the course you should definitely have some ideas to put into action. Why not write a list of the obvious actions steps and pick three - one hard, two easy - and get cracking!