Money Money Money
MendMaker Exercise: Session written and explained by your coach Claire Anstey
Session Length: 3-Minute read and then varies based on daily commitment
Session Benefits:
Empowers you to take proactive steps towards financial freedom by integrating manageable debt repayment into your daily routine.
Enhances your financial awareness and reduces anxiety about debts by encouraging regular interaction with your finances.
Cultivates a positive mindset towards money management, shifting focus from debt to financial independence.
Instills a habit of financial control and responsibility, setting a foundation for long-term financial health.
Goals, Action Steps & Journaling Exercise
'Depression and Debt’
Thinking good thoughts when it comes to money issues sounds like complete and utter bullshit as debt freaks the fuck out of us. The idea that our thoughts can become things in our life when money is concerned is one of the toughest theories to understand let alone trust. Physically doing something every day that gets you closer to financial freedom feels a whole lot more sensible to most of us. The following exercise does just that and it will get you moving in the right direction towards being debt free. Actually knowing that you are changing things is a great way to create those good thoughts. There is no need to try to bullshit. yourself or hide from your emotional reality. Once you start this exercise you will be debt free. It may be £2 debt free, as from today but the statement is the same you are debt free.
Paying off our credit cards and overdrafts is more than achievable for most of us. For those whose money worries are a bit heavier there are so many advisors out there and a quick chat with an expert will get you moving in the right direction too. I am an expert of what I have mastered and achieved myself. I have cleared up my own twenty grand debts that I ran up on credit cards and overdrafts, for anything else there is a different expert. I may be a lot of things but a bullshitter is not one of them, I will not give advice on what I don't already know. Get advice from the person who is right for your issue and take information that works for you. I have placed some information about some experts at the end of the rant.
TASK
1: Set up your bank account with internet banking. No more fear of money. It is time to know and love what you have or don't have. Taking control is hard but know that today your debt will improve, it will look even better tomorrow, better the next day, very soon you will be free. You may wish to organize a new account just for your spending money too, you can then get used to guilt-free spending on shoes, booze, whatever tickles your fancy.
2: On a daily basis (every morning if you can) look at your chosen internet account and use your internet banking service to pay off something you owe. Keep this within your monthly budget as you are going to do this every day.
Paying off £2 every day would be brilliant, you are £2 closer to being financially free, 2, 4, 6, 8 it will all add up. If you can spread £500 over the month perfectly. If you normally buy your lunch, make it and use that £6 in the morning to pay off your credit card. Work out what you can afford and what you can swap. Don't buy that magazine and pay its cost off your CC the next day. Taking control feels amazing and your positive energy will probably lead you to the same magazine on a seat on the bus left by a stranger just for you.
Our world works in bloody mysterious ways and you are about to get it all in your favor.
You will feel positive about taking action. Every day will start on a positive note. This shit won't go away; you have to face it to remove it. This habit will enable you to focus on financial freedom not the debt itself. Our body is a magnet, what you think about you attracts. You will be attracting financial freedom so this will cause money to come your way not more debt. Fabulous! And for those that think this magnet thing is a bit too freaky think about this. You use electricity every day but you have no idea how it works. You take it completely for granted. Trust your magnet just like you trust in electricity.
When you truly know and believe that you are in control of your debt you will feel lighter, confident as your debt fear disappears and your magnet will grow stronger. You will probably also make yourself something much healthier for lunch too so it's a double whammy.
Those other experts I was talking about:
Martin Lewis is a 'dude and has a great online budget calculator.
http://www.moneysavindexpert.com/
Other useful addresses for the UK:
Citizen's Advice Bureau - Advice, info and support on legal issues, debt, benefits etc.
Consumer Credit Counselling Service- Provides free money management and debt advice for families and individuals.
Just Ask - A website for the Community Legal Service.
National Debt Line - Advice, info and support for anyone affected by debt.
Office Fair Trading - Advice on budget planning and borrowing money.