Practical Financial Awareness
“Conscious spending isn’t about cutting your spending on everything. It’s about choosing the things you love enough to spend extravagantly on—and cutting costs elsewhere.”
Now we get pragmatic. How much do you have? How much are you spending? Are you in surplus or deficit?
Use a budget planner to populate all elements. Credit cards and bank accounts simplify this, as your transactions are already tracked.
Examine:
- Where is money going that doesn’t align with your values?
- What are your goals?
- How do you want to feel?
- How is spending holding you back?
- What do you truly need in life?
- What do you need to earn more for?
This helps set grounded, realistic targets for life and business, motivated by understanding your “why.” Many people want six-figure incomes, but what does that actually mean? This is about grounding yourself in reality.
If you share finances, do this together. Look at income sources, both personal and business. Your business shouldn’t be your only income; diversification helps risk-proof your finances. Take your time and start implementing small changes toward abundance, control, stability, and less anxiety.
Do the budget planner
https://moneysmart.gov.au/budgeting/budget-planner
Prompts for Reflection and Spending Inventory
“Too many people spend money they earn to buy things they don’t want to impress people that they don’t like.” — Will Rogers
- What money do you have, want, and need—and why?
- How much do you need for fundamentals?
- What superannuation do you have?
- Can you use creative or lateral strategies to bring in more now?
- Can you leverage the trade economy?
- Are you pricing products/services correctly?
- Where is money leaking personally or in business?
- What are you spending on that isn’t aligned with your values and dreams?
