Money Management

Hello, my friend and future millionaire. 

Welcome to this episode of The Money Wheel. 

My name is Don Shade. 

Now in the last couple of episodes, we covered looking over your job situation and deciding if this is where I’m going to stay as I build my business, or should I be looking for another job that will bring me more income. 

And we also covered what it’s going to look like in your business as you start putting things together and you move up a level. 

And I know you’re going to think about when you come up on a challenge that I said, new level, new devil, and you know, once you think about that, you’ll be able to kind of shrug things off and move forward.

One of the key relationships we want to look at here is the relationship you have with your money. Have you sat down and done a budget?

Do you know exactly where you stand financially? 

When you add up all your bills and the money that you need to spend, as far as what you spend in the grocery store and the money you put in your gas tank, all that kind of stuff is your budget in the green, or have you slipped into the red and you didn’t even realize it.

You know, as a lot of people do that exercise and they start to look things over, they get panicked all of a sudden because they realize I have more money going out every month.

And I have come in and I know you say to yourself, well, how could that happen to somebody? 

It’s very easy.

You have enough credit cards in your wallet. 

You pull out a credit card to carry the negative balance, and you don’t realize it’s happening at the time.

You just use a credit card at the grocery store or a credit card at the gas pump and there’s no negative impact on your budget today.

But what happens is your credit card limits keep climbing as you get deeper and deeper in debt. 

Next thing you know, the minimum payments take your budget further than you can handle.

The reason I want you to look at these things is as we build your business, we’re going to need some income to be able to run some ads and do some different things.

We’re going to be changing the direction of your money, so to speak, instead of maybe going out to eat now on the weekends, that sort of thing you cook at home because you’re looking to save money to build your business.

Now this doesn’t apply to some of you because some of you are doing great and you’ve managed your money super well along the way so you have money to build your business. 

But I also know that there’s a lot of people out there that are struggling, not through any fault of their own, but it’s just both you and your spouse are working and you’re raising kids and you just don’t have the extra income to put into a business.

This is where we really need to focus on what’s happening with your money on a day-to-day basis. What I want you to do is keep track of the money that you spend every day.

And let’s do it for just one week to see where you are with your budget and what I want you to do.

As you look back over that week. Is there anything on that list where you spent money that you could change to maybe gain a little bit more money to put into your business?

One of the things I wanted to make sure of as we build the million dollar roadmap, and we set your business up, that I didn’t want to build it for somebody that was already doing financially, okay.

That they could pull money off a credit card and just keep their business moving forward. 

I wanted to deal with the guy that was struggling and so-called broke because you know what I was that guy, I didn’t have any money.

I didn’t have any credit. I had to figure out how to make it happen. And that’s the steps that I’m walking you through here.

As we start building your business and putting things together. I know this is a lot for you to think about, but these are the key exercises that are going to make a difference in your life and where your business goes.

We have to make some career changing decisions right here right now to get you where you want to be to build your million dollar roadmap.

That’s everything I have for this episode. 

We’ll see you next time. 

The Money Wheel.