#WORLDCLASS Evolution MD Dr. Mahlon A. Kerr | Page 14

Nicole Newman | www.newmannetworks.com

Financial
Responsibility

Seven Tips for Spending Money Wisely in 2015

L

iving in abundance means
that we accept that all our
needs are fulfilled using the
right knowledge to increase
others, which increases ourselves!
The
PlantingMoneySeeds.com
wrote "Before you can reach your
lifestyle goals, you need to master
the basics. One of those basics is
the practice of financial discipline."
In my view, before you can get
more, you have to learn to make
do with less. In other words, spend
less to get more. My mother would
say "live within your means" and
"money gives you opportunity." I
took it to mean "live beneath your
means" so I could have "more
opportunities." I believe that sharing
is caring; all the new opportunities

you discover by living beneath our
means are meant to be shared.
I am sharing the Chief Financial
Officer (CFO) tips that we used to
create opportunities for others by
spending less.
My accountability partner is Tara
Colquitt also known as The Credit
Woman. She tells me not to use the
word “budget,” which indicates "a
diet," but to call it a "spending plan."
Now this is an opportunity to use
technology as it was intended – to
help people! PlantingMoneySeeds.
com writes "Budgeting software
is not only inexpensive (there are
many programs available free of
charge), but it can have an immense
impact on how well you’re able to

14 Evolution Magazine | #WorldClass Special Edition

stay disciplined about handling your
finances. Because this software
often requires you to manually enter
transactions, you’ll be forced to
pay close attention to exactly what
you’re spending your money on. You
can categorize your purchases and
set limits, which is a great way to
ensure that you don’t go overboard
at any point throughout a given
month." Know what you are going
to spend (with a ceiling price and a
floor price) before you spend it.
A spending plan, forces people to
write down the numbers, so people
are likely to be more mindful and
less reckless with the money.

In that regard, knowing that business
is cyclical, in addition to developing
a spending plan also have to
develop a savings plan. Business
has highs and business has lows.
The savings account is there to
keep the business operational while
the business is in a low period. The
Grow Wise Money website instructs
readers to use these tools for
financial discipline:
1. Set up an automated transfer
into your savings account each
pay period
2. Cut up your credit cards, or
freeze them in a large chunk of
ice
3. Get a financial mentor or

4.
5.
6.
7.

someone
you
trust
(i.e.
accountability partner) who
would have to approve every
time you wanted to withdraw
money from the bank
Keep a record of everything you
buy, (i.e. develop a spending
plan)
Train your mind to say NO to
instant gratifications through
meditation
Make A Dream Board
Carry very little cash - Only carry
what you need to get buy and
keep a prepaid debit card that
is used for emergencies. When
you carry lots of cash, you feel
urged more to impulsively buy
things.

The idea is to minimize temptation,
making it as easy as possible to
stay disciplined.
Make a firm resolution to use these
tools and focus on spending less
to get more. In twelve months,
you will be able to look back and
celebrate 2015 as a financially
strong and healthy trip around the
sun.
For more information: subscribe to
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