Don’t Let Money Leaks Ruin Your Financial Foundation

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by Jason Cabler on 12:01 am · 10 comments

in budgeting,Uncategorized

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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

 

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Small Money Leaks Lead to Big Problems

money leaks financial foundationIt 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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Want to learn how to stop living paycheck to paycheck for good? 

My Celebrating Financial Freedom course may be just what you’re looking for.

It will be available soon in a new online format.  Sign up here and I’ll keep you informed on it’s progress.  I’ll also let you in on a very special deal when it launches!

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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.

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Want To Learn How to Quit Living Paycheck to Paycheck For Good?

My Celebrating Financial Freedom course may be just what you’re looking for.

It’s now available in in a new online video format!  You can learn more about the course here and watch the introductory video as well.

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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.

 

 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.

Don’t procrastinate.

You know what happens when you do that.

Let me know how it goes by leaving a comment.

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Have a Question About Your Finances?

I’m happy to help in any way that I can!  Shoot me an email or click on the SpeakPipe button on the far right of the screen to leave a voice message.  I’ll answer your question ASAP.

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Resources:

Living Paycheck to Paycheck?- How You Can Get Ahead Financially

How to Make Your Own Life Plan

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  • Trevor Ricks

    Hey, I’ve been trying to find those areas where money is “leaking” through. I’m working a job but it seems my balance isn’t going up, mostly because my earnings are being spent here and there in too many places. So I’m trying to eliminate those extra spending spots like fast food, and unnecessary commodities. Its going well, thanks for the post!

    • http://www.CFinancialFreedom.com Dr. Jason Cabler

      Great, glad things are going well for you! Are you doing a written budget to help get control of how your money flows? It’s absolutely the best way to keep track, hands down.

      If you’re not consistently doing a written budget (or using budgeting software), you’ll never have complete control and never know where every bit of your money goes. I encourage you to do that if you’re not currently.

      Thanks for the comment Trevor!

      • Trevor Ricks

        I’m not doing a budget but I will try it out. It would be good to keep track of my spending. I think that would make me feel more accountable for where I’m spending my money, too, ha. Thanks

        • http://www.CFinancialFreedom.com Dr. Jason Cabler

          You’re right, it does make you more accountable. I believe it is the best thing you can do keep proper track of your money and where it goes.

          It can be a bit difficult in the beginning because it’s unfamiliar. But once you’ve done it for a few months it gets much easier. Stick with it!

          • Trevor Ricks

            I’ve been keeping track of my money better, as well as making extra money on the side, mostly online. What are your thoughts on affiliate programs on the web?

          • http://www.CFinancialFreedom.com Dr. Jason Cabler

            Lots of people do well making money with affiliate marketing. It does take work like any job, but some people actually make a viable living with it. Check out anything by Pat Flynn (smarpassiveincome.com) and Derek Halpern (socialtriggers.com). They are a couple of the top people when it comes to doing that kind of thing well and doing it ethically without using sleazy tactics.