Have you ever noticed how a tiny drip of water can do a tremendous amount of work over time?
For example, over thousands of years, a small drip inside a cave can form a huge stalagtite.
A relatively average sized river like the Colorado can carve a spectacular formation like the grand canyon.
Or, like someone I know, a small leak in a bathroom, left unattended, can severely damage the floor underneath, and eventually even the foundation of the home, causing major structural damage (Read about my personal experience with water leaks).
In the same way, small amounts of money leaking away here and there will serve to undermine your family’s financial foundation.Small money leaks can lead to major problems. How you can plug the leaks
Small Money Leaks Lead to Big Problems
It takes time for a small leak to do a lot of damage.
When you’re not paying attention, those financial leaks can start adding up, over time causing you to get behind on bills, live paycheck to paycheck, and struggle in ways you might never have struggled before.
Over time, these little leaks can really ruin your life before you even know they are there.
So how do you find and repair those leaks so they don’t get out of hand?
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How to Stop Money Leaks
You start keeping close track of where your money goes.
Most people don’t do this on a routine basis, and because of that, there are a large number of people in America who are living paycheck to paycheck, never able to get ahead financially.
How do you keep track?
Do a written budget every single month.
When you plan your spending and know where every dollar goes, you are becoming proactive with your money. You are directing your money to where it needs to go instead of wondering where it all went.
You are detecting the leaks and getting them fixed before they can do major damage to your financial foundation.
Budgeting is Not About Deprivation
Just because you’re keeping track with a budget doesn’t mean life has to be miserable and you can’t do or have the things you want.
On the contrary, it simply means that you are making a point to take complete control of your financial situation so you don’t make the mistake of spending more than you make like so many people do.
It means you’re taking charge and preventing damage before it happens.
I can tell you from firsthand experience that it’s the best thing Angie and I ever did to stop the financial chaos in our lives.
Have a question about your finances? Leave me a voice message using the black “SpeakPipe” button on the far right of the screen (don’t worry, it’s easy) or shoot me an email. I answer every single one privately (and I don’t share your info).
Take Charge Now
If you want to start taking charge of your situation, it’s not hard to do. The biggest obstacle is just finally getting mad enough to make the decision that you’re done living paycheck to paycheck and wondering where all your money is going.
So if you’ve made it to that decision point, you’re in the right place.
I sincerely believe that keeping track of your money by using a written budget is one of the very best things you can do to ensure that you are a financial success.
Because of that, I want to let you know about the resources I’ve made available to get you started.
First, I have free budgeting forms for you. Download them, print them, and get started making your first budget now. Instructions are included.
You can also check out my posts on budgeting.
Also, I literally wrote the book on how to make a budget. It’s short, easy to understand, and it’s available on Amazon. I’m making the Kindle version available for less than half price for the next week.
Because if you’re motivated to get started keeping track of your money, I want to make sure that no barrier stands in your way to getting everything you need to get started.
I truly believe this little book will be the key that will get you moving down the right path.
So there you go.
The best way to start changing your financial life is to make this small change now.
Don’t put it off.
You know what happens when you do that.
Let me know how it goes by leaving a comment.