The Psychology of Money of Pt.3 – Let me tell you about John
That’s not his real name but the person in question is a good friend of mine. John is like many people I meet. He earns good money, drives a nice car, and has a very nice apartment that he lives in. John thought he had all his finances sorted.
That is until he finally accepted my budget challenge. I often find when someone is doing all the things they like and paying their bills on time, often neglect reviewing their financial position.
We ran through his weekly budget and monthly bills, just like I’ve demonstrated in our educational vlogs and even after taking into consideration all his “sizeable lifestyle costs” he should be able to save more than $40k a year. It’s amazing seeing peoples eyes when they realise how much money they should have, but have no idea where its all gone.
John’s reasoning for not budgeting or reviewing his finances was “I’m not struggling so I don’t think of it.” But seeing $400k over the past 10 years and potentially $800k over the next 20 years being lost to what he says “laziness and ignorance,” was motivation enough for him to make some changes.
Moral of the story. Even if you’re comfortable, even if you think you’ve got your budget under control. Go to the video section of our FB page, head to the budgeting playlist and go through the exercises. If your savings aren’t reflected in your bank account or you don’t know where your money is going then get in contact with us to show you how we helped John get everything under control.
#saveisforeveryone
#makemorethanmoney
#protectinadvance
*This video is for demonstration purposes only. Before taking any action, seek financial advice from licenced professionals to see if this strategy is right for you.
