It might not be just a spending problem though.  Maybe you’re afraid to invest because it seems so intimidating.  Maybe you have the money to pay all of your bills but you aren’t organized and always pay late.

Andrew is willing to take a leap that some people wouldn’t and it has gotten him in trouble in the past, failed business ventures, risky investments that didn’t pan out.  He also spends too much on food and booze.

Matt spends too much on food and booze as well.  Books too but I share that addiction so I approve. He has fallen into a common trap.  He didn’t have a lot of cash for a long time.  Now that he does, he’s been a little undisciplined with his spending.

It’s easy to justify over spending when you’re spending on experiences rather than things.  We preach this philosophy a lot because experiences bring more happiness than things.  But if you’re spending too much, it doesn’t matter philosophically what you’re spending on.  You still have to stop.

Maybe your weak spot is asking for money whether that means asking for a raise, charging what you’re worth to clients, or asking someone who owes you money to finally pay it back.

You might suspect your weak spot but not know how bad it is.  Check your Mint account.  You’ll see how much you’re spending on Seamless writ large.  Feels bad man.

We want you to spend some time reflecting and identifying the weak spots.  Once you’re done navel gazing over the situation, you need to start making a change.  The formula is not complicated.  Stop spending money.

Maybe your lack of planning costs you.  Booking a flight the week before a trip will almost always cost more than if it had been booked several weeks ahead.  You know when and where you want to go.  Just book the flight when you decide!

Maybe lack of goals holds you back.  If you don’t have a goal, you don’t know what steps to take to achieve that goal.

Sometimes you think you’ve patched your weak spot only to keep falling back into the same trap.  That’s ok, as long as the time it takes you to realize you’re doing it again gets shorter each time, you’re making progress.

Show Notes

War Horse Royal Kilt Inspector:  A Scottish ale.

Mint:  The easy way to track your spending.

Betterment:  The easy way to invest.

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