Yesterday the people of Cornwall voted ‘LEAVE’ in Brexit. Today they want their £60 million a year EU subsidy guaranteed. We live in a society where we all want it all – to have our cake and to eat it.
Last week Daniel Priestley wrote “Social media has transformed the hopes, dreams and expectations of hundreds of millions of people and we don’t have a world that can live up to these ideas for the masses just yet. Until then a lot of people are very restless and have the technology to act out their anger. Can we deal with the widespread depression, anxiety, fear and unreasonable expectations?”. Brexit has shown society is restless. Today we’re anxious.
Today marks the start of travelling unchartered waters. No one really knows what the future holds. Interesting and difficult days, weeks and months are ahead. Uncertainty will reign across the UK and worldwide. There has never ever been a better time to changing our spending and transform our savings – to be Underspent not Overspent. This is what I’m doing right NOW, this Saturday morning, and you can too.
1. Stay calm and know YOUR numbers.
I spent Thursday with my accountant Ben. We worked through everything – my personal and business assets, personal and business incomings and outgoings. I know where I stand and exactly what I need to do. Of course yesterday things changed so now we are making re-adjustments.
2. Don’t act out of anger, know YOUR priorities.
Things are changing by the hour. It’s a waiting game. My priority is to pay off my mortgage in 3 years. That’s not changed. Being mortgage-free is still my financial priority. I need to change my ‘game plan’ and be ever more prepared for change. I need to be ready for change and to save more.
3. Set-up and stick to a budget.
41% of us borrow every month to survive. Everyone’s circumstances are different but I’ve found that setting up a monthly budget helped me save money. Last month I quit take-away coffee and I’m taking my lunch to work. Today I’m changing my budget to put that ‘extra’ money on the mortgage now.
4. Set-up a long-term savings account.
I have 12 months’ salary in the bank. It’s a safeguard, a buffer and security. Today I’m making a plan to put my savings in a mortgage off-set account to reduce my mortgage debt.
I save 20% of everything I earn. This is a non-negotiable. If I earn $100, $20 goes into the bank – Always.
6. Unite and share.
My business needs some extra equipment (chairs and tables for a seminar). I’m going to go and meet other small businesses in my community and recommend we create partnerships to share resources we already have. Save us all money and make our community stronger. Let’s all share what we’ve already got.
7. Support others.
Phone a friend and ask ‘R U Ok?’. People are scared and anxious. We need to unite. This morning I spent an hour on the phone talking to my sister who’s in the UK. She, like most people, is shocked and scared.
8. Create and build assets.
Income follows assets. This weekend I’m working extra hard. We’re on the final edit of my ‘Ready for Redundancy’ book and I’m going to be creating and building more and new business assets.
9. Live modestly.
To spend less money and save more money I live modestly. I do stuff myself – cleaning, book-keeping, ironing and gardening. I’d love a VA/administrator but now is the time to tighten the purse strings.
10. Be Underspent not Overspent.
I didn’t buy anything new or 2nd hand during 2014 and saved 38% of my take-home salary. I changed my spending and transformed my savings without dramatically changing my life.
Underspent: Changing Spending, Transforming Savings.
Buy the BOOK Underspent in paperback from me $12.95 OR buy the e-book or Kindle formats. Price $2.99 or £1.92
I’ve intentionally made it inexpensive, so that even the people with the smallest budgets can afford to buy it.
Amazon http://amzn.to/1E1ifp0 Barnes & Noblehttp://bit.ly/1A1NbKP Kobo http://bit.ly/1bR9uHF Goodreads http://bit.ly/1KLRPNa Copia http://bit.ly/1RHaMpL iTunes http://apple.co/1V6OXE5