How to Make A Stable Financial Foundation for Yourself, Part Two
Last week, I wrote about how to figure out what you value as the first step to creating a stable financial foundation for yourself. Now that you know what you value, hold that thought.
This week, we’re going to figure out how much money you’re spending now. That will help us figure out if your spending matches your values. Next week we'll continue this examination, and I’ll show you how to apply your values to your spending and see if they match.
Keep it simple and create an average
There’s a simple way to find what you think you need to spend every month. That’s to look at what you’ve spent over the last three months (download your spending transactions from your bank over the last three months), add them up and divide by three.
WHAAT? It can’t be that easy.
Next, categorize your spending
It isn’t that easy, but it’s also not that hard. Getting the number--the average of your spending over the last three months--is where to start in seeing if your values match your spending.
The only other thing you need to do now is to put the spending in categories (how much did you spend on groceries, gas, utilities, etc.) and total them. There’s a spreadsheet you can use to do that here.
When you sit down to do this, If you run into some beliefs about money, about spending, saving, eating canned beans or buying dresses, book a chat with me and I can help you through it.
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Your work matters. That’s why it’s important to give it financial stability and peace.
Once you have your numbers worked out, this will have you well on your way to figuring out if your spending matches with your values, and what to do if it doesn't. More next week!