With so much personal finance information out there. Your head will spin off if you do not get it on right. Since this whole financial journey has become something I must do. My financial planning started to create a stir in my core values and beliefs. I know them now as Money Dials
Once I had my sick and tired moment, and I got comfortable making minimum payments on a semi ridiculous payday installment loan. I started to become extremely aware of what was happening and not happening with my money.
Summer 2017 I was daily listening to the Dave Ramsey show and then I started to follow other YouTube channels, I even dusted off and started reading my books on personal finance and building wealth.
The more information I got, the more I was second guessing myself and thought I was doing it wrong and because I really like following this person’s content and I think I should change my plan. I had a new plan of action almost every month and it drove me nuts and it has effected my progress. It’s pretty similar to when I was starting treatment for my bipolar disorder.
Looking over my bank statements I noticed I was having huge success when I was following some kind of auto-pilot system I noticed from October 2018 to April 2019. My deposits for retirement savings account (RRSP) show that I went from $2.32 to $210.01. Now that account is down to $22.24 I took money out because I didn’t work for a couple of weeks, but what got the money in there happened because every pay or money I got a piece of it had to go into my retirement account (RRSP). It didn’t matter if it was a few pennies, or a few dollars.
It went in there and I didn’t miss it
That idea came from watching David Bach’s video and then now the idea came back from reading I will teach you to be rich blog from Ramit Sethi. The Dave Ramsey’s 7 baby steps plan I can really only get on board with;
- Have an emergency fund
- Pay off debt smallest to largest
- 15% of income into long-term savings
But for me it has to happen all at once. Yes my debt pay off debt date might be delayed by not following the Dave Ramsey plan exactly as he created it. if I am going to be all excited and even obsessed about my money plus stay motivated and I need it to fit my personality.
“I have irregular income working as a cam model plus my affiliate marketing commissions … “
That statement there use to be my exit excuse of why I felt like I couldn’t have success with my money plus other interesting money limitations I use to put on myself.
But you know what I had to grow up. If you are a cam model and you are reading this you need to grow up too.
I made that limitation vanish. it happened like this;
Every time money came in or I got my commission checks I would cash the checks and deposit some cash so I could transfer money to the appropriate account(s). Every dollar had an assigned budget category for where I would be spending, saving, investing and even giving.
The David Bach’s video explains how to do it step by step. I found that if I left my money sitting around too long it would get spent and I would get anxiety. I had to find a balance to take care of me in the present and save for me in the future.
This whole money management thing I know now it is for me. It’s not selfish for me to handle my money by myself and spend it how I want it to be spent since I work so hard for it and what I make, take home, and have given to me doesn’t belong to anyone else but me and me alone. I grew up with abusive and some of it was financial abuse (economic abuse) and now that I am no long around that abuse I have to teach myself how to handle my money and not be scared around money.