Why The Money Habit Works

We have all tried budgets, apps and other “programs” to manage our money.

The problem is they all need care and tending.

You have to manage them.

You can set up rules and connect banks but there are frequent linkage breaks and all the automation needs attention.

Then you get busy and fall behind a week and suddenly, your quick weekly task now needs 1/2 a day on Saturday and now you have a project.

In addition to the time and attention, it’s never fun to focus on how you’re going to deprive yourself!

That’s the driving force behind managing most budgeting programs: What are you going to give up?

As I mentioned last week, I'm working with The Money Habit method, and it takes a different approach.

You have to do a little work upfront to set up your accounts and percentages.

Once you have the accounts and auto transfers set up, you simply log into the bank weekly or whenever you want to see how you’re doing.

The bank accounts are your dashboard, no need to do coding and tracking to a budget.

A few times a year, do a quick review to readjust.

You can see, the set up is critical.

Understanding when your cash comes in and when bills are due, what your money stressors are and what your dreams are, all needs to be considered.

Then we build a plan to help you fund the accounts and every week you watch your progress toward your financial goals.

There is nothing like steady progress to fuel motivation.

The Money Habit is great for families too.

You can set up separate accounts for spouses for individual “Wants or Dreams”.

This takes away the tension of one spouse being the gatekeeper for the funds.

Another reason I love the Money Habit is that it helps entrepreneurs separate their business and personal finances.

We always encourage this as a best practice but when money problems exist at home, the business money is typically used to solve them.

And vice versa.

By building good financial habits and at work, you can start to enjoy much less stress.

Profit First for Ecommerce and The Money Habit are a great combo!

We are starting a wait list for our first offering. Hit reply if you’d like to learn more!

Cyndi