Direct your money

Some months the pay check arrives and then POOF it’s gone! The rent or mortgage, car costs, childcare fees and subscriptions have all accounted for a large portion, even before you can think about how you are going to enjoy the money you’ve worked hard for. This is the point where you need to look at those fixed monthly costs and ask, can I reduce them? Do they reflect my priorities? You alone get to direct your money on the things you value.

The money left over is referred to as your disposable income because you get to choose where it goes when you dispose or remove it from your bank account. So instead of buying clothes when you have some in your wardrobe choose to sign up to that course you’ve always wanted to do. Book that day at the health spa to replace the late night takeaways for a week.

Actionable step: Take some time a few days before you get paid to calculate what your fixed costs are and what you have left. This is your way of taking control to clear up your thoughts and worries on whether you can make it to the end of the month.