https://www.youtube.com/watch?v=2fNYsemEAHg

Alexander Pope said, “To err is human, to forgive divine.” Financially speaking, it would be more accurate to say, “to spend money is human, to create wealth divine.”  No one ever needed a lesson in how to buy things. In fact, with no restraint, we manage quite well to find plentiful ways to spend money.  How you spend money has the power to stunt or accelerate your wealth creation. Find out whether your purchase personality is a Spender, a Saver, or a Steward.  Learn the practical action steps to up-level your purchasing strategy to keep and control more of your money, starting from where you’re at.

To help you spend money the right way, we’ll answer:

What are my options for how I spend money?Am I a spender, a saver, or a steward?What are the impacts of each?What action steps can I take from where I am to spend money better and increase my future cash flow?

Understanding your purchase personality will move you from impulse buying and scarcity-based decision-making to abundance-based wealth creation.  Instead of never getting ahead, you’ll spend money knowing that you’re increasing your wealth potential.  Rather than being out of control, you’ll gain control, options, and increased confidence in your financial future.

Table of contentsIt's Not So Much What You Spend, It’s How You Spend ItWhere Spending Money Fits into Your Cash Flow SystemWhat’s Your Purchase Personality?The Three Ways to Spend MoneyThe SpenderThe SaverThe Similarities of the Spender and the SaverBoth Have a Scarcity MindsetNeither Can Get AheadThe Two Problems with Paying CashYou Give Up the Ability to Earn InterestYou Reset the CompoundingThe StewardHow the Steward Gains the AdvantageAccess to the Best FinancingYour Money Continues Growing and Earning Compound InterestYou Retain Your Cash for When You Need ItYou Can Pay Off Your Loan If You Want ToImproving How You Spend MoneySteps for SpendersSteps for SaversStart Creating Wealth TodayThe Whole Series on DebtBuild Your Time and Money Freedom

It's Not So Much What You Spend, It’s How You Spend It

When you review your monthly cash flow, you’ll notice circumstances that call for you to go above and beyond your normal monthly spending.  These major purchases may be to maintain your lifestyle or improve it.  They may be emergencies, or opportunities, or just for fun. Whether it’s buying your next rental property, a business acquisition or expansion, buying a new car, putting tires on the old one, remodeling your kitchen, paying for your daughter’s wedding, your son’s college education, major purchases are outside your monthly spending plan and require additional thought and planning.

The way you pay for these expenses has more significant impacts on your current and future cash flow than you realize.

How you purchase makes a world of difference in your control or loss of control.

So how will you pay for these future major purchases?

You can know the best way, speculate, guess, dream, and even commit, but the best way to predict your future decision-making is to look honestly at your past decisions to figure out what mindset you used to arrive at where you are today.

Where Spending Money Fits into Your Cash Flow System

Spending money is just one part of the Survival to Significance Cash Flow System.

How you spend money is a result of your mindset.  When you spend money the right way, you keep and control more money today, giving you more to save and invest in cash flowing assets.

What’s Your Purchase Personality?

Use this simple quiz to help you discover your purchase personality.

Do you put money into savings each month?

If no, you are a Spender.

If yes, continue.Think back to your last large purchase, maybe it was an investment property, car, boat, remodel, wedding, vacation.  Did you have enough in savings to have the option to pay cash?

If no, you may be a Spender.

If yes, continue.