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There's something I've come to realize... orginazation is key. "Major key alert." - DJ Khaled. My mind, my money, and my work is all over the place. I have no organization whatsoever. All of the things I want to do for Thirty&Free; hardly ever get done because I'm trying to do so many things at once. I want to blog, wholesale, flip homes, develop an app, misc writing, and retire as soon as possible.
Lets start with the money... I should have so much left over every month. I'm still able to save, but just not as much as I should be. This is mostly due to the timing of income/expenses, variablity of expenses, and the mixing of my play funds with my serious funds. My current budget is just not as efficient as it could (should) be. I got the chance to talk to my uncle the other day and we discussed money and budgeting (and marriage). He always uses cash for his purchases mainly because there is an emotional response to physically handing over your hard earned money to someone else. I think the example he used was "If there's something I want that costs $80 and I hand the cashier a hundred dollar bill, it's going to hurt knowing she's only gonna give me a twenty back. When you swiping that card, there's no emotion involved. Plus you never know how much you've spent by the end of the day." He also uses the envelope method, where he separates his money into labeled envelopes for all of his bills and expenses each month. Envelopes for groceries, mortgage, gas, etc. - you get it. If there's only 50 bucks in his out-to-eat fund for he and my aunt, then guess what - no appetizers and no drinks with their meal. Me being a millenial, I never really carry much cash because its something I've never really done. But I believe that emotional response to handing over cash money is real and may be something I should consider at least for my fun money. Going forward, I plan to automate most of my money. I am going to restructure my direct deposits to flip $250 each paycheck to my emergency savings account and have the rest go to my checkings account. I'll then withdraw $155 cash from my checkings account each check for gas and fun ($30 for gas and $125 for fun). If what I want to do for fun and gas exceeds this $155, then I just won't be able to do it. The money remaining in my checkings will be used to pay the bills through the auto-bill pay service my bank provides. I will set up each bill to come out on the day it is due. For the bills that vary, I'll set it to the average amount and monitor to make sure I'm sending enough for the month. Anything left over in the checkings account at the end of the month will then be applied to my credit card. Hopefully this system will provide some real results. I'll be sure to post an update early March.
I'm driving myself crazy with the Thirty&Free stuff. I'm trying to do too many things all at once, so nothing is really getting done or its getting done half-assed. I'm bouncing between blogging, marketing for the blog, wholesaling, marketing for wholesaling, and another writing project. Within each of these ventures is its own demands. SO I've began making to-do-lists. This has helped so much. I'm able to focus only on the things on my list, get them done, and feel like I've accomplished something when the day is over. The lists have really helped me in setting things up such as writing articles of orginazation for my LLC, applying for a TIN (tax ID number), applying for a business account at my bank, developing a lists of potential clients, and outlining my next blog posts.
I'm starting to realize organization is half the battle. Like how in the world was I execting to receive business income if I wasn't organized in a way to do so (business account, potential client list, TIN). Or how was I expecting to ever reach my savings/debt reduction goals without a suitable budget (automation is key for me due to my lack of discipline).
Think about how a lack of organization is holding you back. What have you been waiting on to recieve? Have you set yourself up or organized you life in a way to recieve that thing?
How are y'all keeping it all together? Please share. I need all the help I can get.
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