Identifying Hidden Habits that Cause you Financial Pain
I have a Chiropractor friend of mine that has many patients who complain about back pain, neck pain, and many other aches and pains. His patients will say the pain came from “nowhere”. No trauma accidents slip or falls. Just the phrase “nowhere” is something he always hears. However, the pain does come from somewhere. He calls them “hidden habits”. From sitting at a desk all day with poor posture to how you drive your car and tensing up in traffic.
Financial pain can be the same way. It doesn’t come out of nowhere.
This got me thinking. I have coaching calls each week. I always hear from my clients that they need better cash flow or ideas to bring in more money. Before I talk to them and give them ideas, I ask questions to find out what their passion is and what gives them positive energy to get them up and moving in the morning. Then I begin to ask them questions about their “Hidden Financial Zapper Habits”.
I can just imagine many of you reading this are getting ready to click off this post because you are not ready to face those Financial Zappers. Ouch…
I promise… it won’t hurt. I am only going to give you the scissors… it is up to you to do the cutting.
Not all of these will relate or be a fit for you, but if I guessed, some will fit like a glove. If you do a few of these, I think you could put an extra $2500 bucks in your pocket this next year. That’s $5K in two years. That’s $10K in four years. What could you do with an extra $10K in four years? This might be enough for a down payment on two cash flowing rental properties? Hmmm… makes you really think, doesn’t it?
Here are some common Financial Zapper’s:
1. Starbucks or Dunkin Donuts vs. brew it at home.
2. Eating out lunch vs. brown bagging it.
3. Eating out for dinner vs. grocery shopping and cooking/preparing it at home.
4. Drive through McDonald’s for the kiddo’s vs. being prepared with a cooler and snacks.
5. Going to the movies vs. find something online for free or even Net Flicks.
6. Cable or Direct TV vs. cut the TV cord or if need be, get a Fire Stick. Doreen and I save over $100 per month… $1200 per year. $3600 in three years. We no longer have cable TV. We also found that we communicate more and no longer have TV negative news on all the time. TV is a time Zapper as well. Besides, $3600 bucks will get me an extra 10-day vacation in the Abaco out island’s in the Bahamas or an extra ski vacation to Schweitzer Ski Resort in Northern Idaho.
7. When you do go out, take your own bottle of wine and pay a cork fee vs. overpaying for a bottle of wine at the restaurant.
8. Dry Cleaning vs. washing what you can and get out the iron with some spray starch yourself.
9. Buying lunch at school vs. sending a brown bag lunch to school for the kiddos.
10. Turn up the A/C two degrees during the summer and two degrees cooler during the winter.
11. Lawn care and pool services vs. doing it yourself.
12. Car wash or detail service vs. washing it yourself on a Saturday morning.
13. Oil changes for your cars at an automotive place vs. doing it yourself.
14. Brand new tires vs. 75% tread left on used tires. Hey, guys, I did this for years with my Porsche 911. You bet I did. I could pay $450 bucks per tire for brand new ones or I could put the word out to a couple of used tire places in town and when they get two matching tires with good tread I would snap them up for $100 each. We have a Kia that we lease right now. My wife hates my car. Say’s it is too loud and not comfortable like her “Kia-rati” with heated and A/C seats. FYI… We will turn in the lease car in about 3 months. I needed two new front tires. Not going with brand new ones. I already have my guy “Big B” from Big B’s Used Tires to pull aside two good tires for me and I had them installed this morning.
15. Getting the newest version iPhone each time it comes out vs. keeping the one you have for more than 12 months.
I hope this helps you to identify some of your “Hidden Financial Zapper Habits”. Please share a comment of some of your own so others might be inspired to make a positive change and let me know what you think of this post too.
p.s. check out my free gift 5 biggest recruiting mistakes people make HERE
3 John v.2 Beloved, I wish Above All Things that you may prosper and be in health, even as your soul prospers.