Earning good money, but not getting ahead financially.
This is very common!
This is often a big reason why they are keen to have someone else come in and take a look at their situation to see what can be improved.
Earning good money, but not getting ahead financially can happen quite easily yet take a long time to realise.
People start to try and make a few changes but it really doesn’t have much of an impact in getting ahead financially.
If this is you, you need to look at all aspects of your finances.
As we earn more money, what tends to happen is our spending creeps. We call this Lifestyle Creep. As you earn more money, it doesn’t go towards building your wealth. It goes towards additional spending, experiences, material items and probably some wasted money.
This is a really simple fix if you know what you are looking for and have the time to dive into your finances to really understand what is happening.
Here is what we need to know:
- What are you spending all of your money on and how much are you spending
- What are your financial goals?
- What would you consider “getting ahead financially” to look like?
- How is your current budget operating? Is it a fully balanced budget?
Once you know all of the above, now its time to make some changes so that you can start getting ahead financially.
To implement these changes, there are some important things to have in place:
- A well balanced, well thought out budget that aligns your spending your goals, needs and wants.
- You need to right bank account structure to support you and make what you are doing extremely clear and bullet proof!
- You need someone to hold you accountable to making changes. Its easy to slip away from our budget or goals if we do not have anyone checking in on you.
- Having an additional plan so you know what to do when you earn or receive more money. Rather than allowing some spending creep – you need to be very intentional and clear about what you will do with that money.
Earning good money, but not getting ahead financially is an extremely common issue for people.
While it can be simple to change this, its not necessarily easy. Be prepared to dive deep into your numbers, habits and goals. You need to set up changes and stick with them.
If this doesn’t sound like your cup of tea, YouChange loves doing this! We can take care of all the thought and process and present you a personal plan to ensure that you are making the absolute most out of earning your good money. Book a consultation if you are ready to start getting ahead financially.
We have our Financial Planner – You, Yourself and Your Money This planner will help take you through all of the steps to get you on the right path.
