The $5 Financial Solution

Sarah Pond

How $5 Will Increase the Quality of Your Life
'Tis the season to be merry and what better time to talk about finances?

Bringing up the subject of money at this time of year is like talking about the benefits of snow tires at a fourth of July barbeque. We KNOW it's important - we just wanna deal with it later!

But before you close this email and go to the fridge for a cup of eggnog, here's a little financial tip that is designed to:

1)Build your wealth. 2)Eliminate your debt faster. 3)Make you feel great.

One of the key differences between the financially savvy and those who are treading water in a sea of financial burdens is one piece of information.

"It's not how much you have, it's how much you keep".

Whether your monthly income is $1000 or $5000, there are three things to start doing immediately to dramatically alter your relationship with money:

Number One = Pay down your debt as agressively as possible. Minimum payments will keep you in poverty. Stop creating more debt (credit card purchases, advances, loans, etc) and make eliminating the debt you do have the PRIORITY. Credit cards are debt-machines.

Number Two = Save. Everyone - and I mean EVERYONE I know who is financially successful saves at least 10% of their income. Open a savings account (try ING direct for the best interest rates and convenient savings plan) and just put 10% of what you earn in it each month. Even if it makes you wince at first, within a few short months it will feel great - even better than spending that cash on whatever it is you think you MUST HAVE.

Number Three = Tithe. Give, contribute, donate. This action alone has increased the quality of my life dramatically. I regularily cut a cheque to charities and causes that I am inspired by. The financial gurus recommend tithing 10% of your income. At times I haven't been able to manage that, but have given $20 or $50. Even $5 or $10 is great. Tithing shows you and the universe that Yes! there IS enough - and if I have enough to give away, I must be doin' ok! Truthfully, when I am feeling worried about money (or the lack of it) I've learned that tithing brings returns far, far greater than the investment.

So here's the $5 Financial Solution...

Those Debts:

When you are sitting there at bill-reckoning time, figuring out how much of your hard-earned money to put toward reducing your debt this month, add 5 bucks. That's it.

If you decide to pay $50, ask yourself, "If I can afford fifty, how much will an extra $5 hurt?" Anybody can afford an extra $5.

Well, if you can afford $55, then 5 dollars more won't make a difference - add 5 bucks.

Can't you just push it up a tiny notch and throw in another $5? What's 5 bucks after all? Now you're up to $65 toward that debt. See if you can stretch it one last time - just $5 more?

When you reach the amount that is ABSOLUTELY the uppermost limit for this month, stop there. And be proud of yourself. With the $5 Financial Solution, you just increased your payment by 10% to 50%.

You will be debt-free 10% to 50% faster! And it really is quite painless.

Your Wealth (Savings):

The same principle applies to your savings. At the bank, as you are making out your deposit slip, figure out the amount to save this month. Apply the $5 Financial Solution - surely you can afford an extra $5, right?

Keep adding $5 till you can add no more. See how far you can stretch yourself. Very, very soon you will enjoy the security and thrill of a blossoming savings account.

With the $5 Financial Solution, you will have much more money saved in 10% to 50% less time!

Tithing

For bonus points, use the $5 Financial Solution when you are writing out your cheque to your favorite cause this month.

An extra five bucks will mean a lot to the peole who are the recipients of your generosity - and it will hardly cost a thing to you. What's an extra $5, right?

That's it - the $5 Financial Solution. It's yours to consider, and hopefully to use for your own financial benefit.

If anything in this article makes you

*freeze-up or shake your head, certain that this is NOT a tool that you can use,

*shrug your shoulders in defeat and think that financial security is for OTHER people,

*sigh and wish that you could enjoy financial prosperity,

*feel strongly that this is the time to attend to your finances,

*want to gain clarity on your finacial goals and start making it happen,

...then I invite you to pursue your financial dreams and goals with a FREE 45 minute coaching session by phone. I can offer you support, solutions and strategies to get you going in the direction you want.

It's free, why not? 1-800-514-3045 (Pacific Time)

Tangentally, if you haven't read these books, put them on your wish-list or go and get them at the library. These books have altered the financial situations of thousands, including mine:

Rich Dad, Poor Dad: What the rich teach their kids about money - that the poor and middle class do not! by Robert T. Kiyosaki

The 9 Steps to Financial Freedom and The Courage to Be Rich by Suze Orman

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ FREE resources for you at www.successandsatisfaction.com All the best, Sarah Pond, Life Coach www.successandsatisfaction.com

About the Author

Sarah Pond is certified Life Coach who can show you how to have a lot more success and satisfaction in your life, when you want it. There are several unique and FREE self-development resources waiting for you at her website: www.successandsatisfaction.com