C.R.E.A.M. Part One

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This will be the first installment in a series of Friday posts addressing the topic of personal finance. As you can imagine, finance is a topic that I spend much time working with my Personal Coaching clients on by request.

Let’s face it, we all want more money.

We all want to be “smarter” with the money that we do make.

We all want to make intelligent decisions when it comes to spending and investing.

We all wish that we had the same habits and beliefs about money that the wealthy do, so that we could enjoy the spoils of wealth, or maybe just the freedom associated with not having to worry about your financial situation.

I can tell you that at thirty-two years old, having possessed an ambitious, entrepreneurial spirit from birth (my first business was selling hand-drawn pictures of naked girls to neighborhood kids from my treehouse at seven years old), I’ve been no stranger to the upsides and downsides of the finance game.

I’ve made small fortunes for myself (legitimately and otherwise), and have lost them as quickly as they came on multiple occasions due to a lack of the requisite belief structure, mechanical habits, and outright knowledge that is necessary to do “well” with money.

I’ve certainly learned a thing or two during this time, both from my own mistakes and studies, and also from those who I have been immensely fortunate to have as mentors in the financial realm; guys that have set me up with the knowledge and wisdom needed to truly excel as an entrepreneur, investor, and just a guy who doesn’t have to worry about much.

This series of posts is designed to impart on you, the reader, some of what I have learned over the last several years in the money game. I know that you will find it beneficial to invest your time reading these articles, and i sincerely hope that you begin implementing these ideas into your own financial practices so that you too can rid yourself of the unnecessary worry that comes from having too much week/month left at the end of the money.

Before I get into today’s lesson, I’d like to point out that NOW represents the best possible time for you to sign up with me for Personal Coaching. As I indicated in yesterday’s post, all Personal Coaching options (Single Sessions and Packages) are heavily discounted at the moment, and booking with me NOW (as I write this: this offer may be over by the time you read this) more than likely makes you eligible for a FREE spot or two at one of my upcoming live events (those to which I’m referring are the epic, low-key, intimate events that are on their way out the door as my schedule shifts towards bigger audiences and venues). Please click here to read yesterday’s post in a new window outlining this offer before reading on.

Signing up with me gets you access to me, JP, as your Personal Coach and advisor on all matters, INCLUDING personal finance. If this article interests you (as I’m sure it will), and you can see how beneficial implementing the ideas presented in this series can be to your financial situation, imagine the degree to which the learning curve will be shortened by having yours truly at the other end of the phone, email, and/or text message. I can assure you that my Personal Coaching clients that make up #teampain would urge you to take action now and join their ranks (there’s not a one of them who I’ve worked finance with who has done anything less than overhaul their money game for the better).

So… on to today’s lesson. This one will be brief, but will set the stage for many of the lessons to come.

STOP USING YOUR DEBIT CARD FOR EVERYDAY PURCHASES.

That’s right. It’s time to get back to carrying, and using, good old fashioned cash.

The “convenience” of the debit card has made it the primary purchasing tool for many people in this day and age. While the simple, instant access to your checking account certainly makes the card a powerful tool, its use as the main method of completing day to day transactions does not always have a positive effect on the overall financial situation of the user. Since my concern is the “big picture” of the client’s money game, not limited to, but definitely including, the individual’s beliefs and overall psychology with regards to their finances, much of what I teach (and have been taught) may seem contradictory to some of the mechanical concepts presented by financial planners, money magazines, and others more concerned with what makes the most sense “on paper” (see my article “The Past, Present, and Future Rule Revisited” to see a prime example of the controversy associated with much of what I advocate).

Obviously the methods and schedules by which each of you receive income will vary, but the one consistent thing that will benefit all of you, particularly with many of the methods that I will describe in later installments of this series, is making it a point to always have a significant amount of cash on your person with which to make your day to day transactions.

For those who are paid in cash, this will be understandably easier to implement, but for those that receive their income via paycheck or direct deposit, this will require either a withdrawal of cash from the bank or ATM.

The benefits of using cash for your daily spending are many, from the visual and physical inventory that is readily available to you with a quick glance (say goodbye to those annoying overdraft notices and fees caused by charges being debited from your account days after the purchase was made; we’ve all been there), to the mental state that one with a pocket or wallet full of cash finds himself or herself in.

It’s difficult to feel poor when you have a wallet or pocket full of bills.

The great Jim Rohn was an advocate of carrying three, one-hundred dollar bills with you at all times for this very reason. Rohn contended that the psychological impact of having that sum on you at all times (plus cash that is actually “available” for spending- the three hundreds do not get spent) positively influenced your beliefs of abundance with regards to money.

I do not disagree with Rohn’s logic. I am in no danger of being confused with the “law of attraction”, “metaphysical” type of self-help gurus out there anytime soon, with my methods being known for their practicality and effectiveness, but there is much to be said about the use of a sum of money as an anchor to a positive and resourceful state.

Those of you who have read my book Blueprint to Beast will understand the importance of state on your behavior, and therefore the results that you produce.

For now, get accustomed to carrying cash, and using it for your everyday transactions in place of your debit card. Next week we’ll get down and dirty, and get to some of the more fun and exciting lessons that I have been fortunate enough to learn and implement with my clients and myself in order to create a personal economy that promotes a prosperity conscious, far less stressful life.

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One Response

  1. Agreed. Cash is king.

    August 8, 2014 at 10:37 am

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