So, What Do I Do with the Money?
I have a confession to make. I think it was something I knew all along, but didn't realize it until I attended the Women's Web Workshop in Denver this past weekend. Here goes the confession:
I have been so proud of myself because I know how to MAKE money online, but here's my problem: I don't know what to DO with my money once I get it. As a result, for the past 2 years I've just been spending that money....and not spending wisely. :(
I am so glad that Barbara Drazga invited Loral Langemeier of LiveOutLoud.com to talk and shake some sense into me. Loral is an inspirational single mom who made her first million dollars while she was pregnant with her first son. Man, if I made a million dollars, I'd probably spend it! But Loral showed me how NOT to do that and gave some pretty awesome tips on how to get more out of the money I already have. I have purchased her "Building Your Wealth Cycles" and look forward to getting my mind and finances in order.
How's your bank book doing?
I have been so proud of myself because I know how to MAKE money online, but here's my problem: I don't know what to DO with my money once I get it. As a result, for the past 2 years I've just been spending that money....and not spending wisely. :(
I am so glad that Barbara Drazga invited Loral Langemeier of LiveOutLoud.com to talk and shake some sense into me. Loral is an inspirational single mom who made her first million dollars while she was pregnant with her first son. Man, if I made a million dollars, I'd probably spend it! But Loral showed me how NOT to do that and gave some pretty awesome tips on how to get more out of the money I already have. I have purchased her "Building Your Wealth Cycles" and look forward to getting my mind and finances in order.
How's your bank book doing?
3 Comments:
Good topic, Alice! I'm doing a little of both: saving AND spending. The spending is good though - paying off my car early, new office equipment (needed), traveling, new clothes and eating out ocassionally. Nothing extravagant, and not creating long-term debt in the process. The rest is going in the bank ;)
Here lately I have been spending a little more than usual on info-products & courses - but I consider this more of an investment than an expense...
~ Lynn
GREAT point, Alice.
In fact, I would go so far as to say that when you have a plan for what you're going to DO with the money, you're even more likely to see it come!
I just finished reading "Debt Proof Living" by Mary Hunt and got some really good ideas from that about what my long term financial goals should be.
I also really love Dave Bach's books. The newest one is Automatic Millionaire. The thrust of the book is that since none of us has great self control (who, me?!), it's good to automate the savings and investing process by setting up automatic withdrawals into an online savings account (he recommends ING DIRECT, which I use too) and even with your investment accounts.
:)
Carrie
Thanks Lynne and Carrie. Carrie, you are absolutely right! I have already started writing a plan for what I want to do with my money and certainly that will help increase the incoming. I've always had a "money" goal, but I didn't really have a plan on what to do with that money. Now that I know what I want..I will do even better.
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