Take Control of Your Future

Take your future into your own hands.

Don’t rely on policies or politicians.

Don’t rely on other people.

Rely on your own actions!

My wife and I have been there. We lost a job during the recession and we were immediately impacted financially.

There were no jobs.

Did this stop us? No!

Did we rely on others to get through the tough times? No!

We actually moved during this time, to an area with a lower cost of living, while we tried to work for ourselves. Eventually we failed and went back to working for someone else.

We found jobs. We worked hard to find these jobs. It took years to get to our current life.

We took control of our future. We took ownership of our finances.

Similarly, you must take control of your own future – your own financial future.

You may be working two jobs – you may be working two mediocre jobs – but figure out where you want to be and keep chasing.

Reach out to others in your network – ask for advice, ask for references, ask for support – but don’t rely on them providing you with money.

Take the wheel for yourself.  Don’t wait for someone else to guide you.

Take control of your future.

Do you control your future?

 

Exploit Your Finances, Exploit Your Life!, Step One - Priorities

Below is part one of a four step series on how to Exploit Your Finances, Exploit Your Life! Start here for a little background - Unexploited Finances.

The key to exploiting your finances, and subsequently exploiting your life, is setting your LIFE PRIORITIES.

Your life priorities will drive everything!

You’ll use them to motivate you through the difficult times. You’ll use them to shape your future. You’ll use them as your excuse for changing your financial habits – yes, excuses…you’ll have something to blame!

Life Priorities

There’s no set list of life priorities that you have to choice from. You get to choose ANYTHING!

You can use priorities such as buying a new car, buying a new house, or taking a vacation.

Or you can choose priorities that may seem unrealistic – such as taking six vacations a year, saving for a gap year, paying off all of your debt!

(The more outlandish the priority, the more you may be motivated!)

My wife and I had a goal to pay off ALL of our debt (over $70,000) in two years. Without setting our priorities, there is no way (no way!) that we could have paid of our debt so fast. This was a crazy idea for us - we didn't know anyone else that was debt free!

Priorities motivate you to act.

Your priorities may motivate you to act, but this has to be something you really, really want!

A weak priority will fail you when you need it most. A weak priority will allow you to bend the rules, allow you to make an excuse, allow you to cheat!

Pick something that you’re passionate about! Something that you’ll want to tell the world you did! You’ll be so proud of accomplishing this goal that everything else will seem insignificant!

(Don’t worry, once complete, you’ll find even greater priorities…because you’ll know you can do it!)

How to set your priorities?

Picking your priority should take some soul-searching.

Spend some time picturing your ideal life. This is where you want your finances to take you.

Where do you live? Who and what are you surrounded by? What type of profession do you have?

Again, nothing is unrealistic at this point!

Trust me, I had no idea that I could be debt free – honestly, who doesn't have a car payment or student loans anymore – but here I am! I had no idea that I could take six vacations this year, and have all of them paid off before I returned home!

If you're married, or have a significant other, you'll definitely want to work with them on shared priorities.  You may each have some individual goals, but shared priorities will help you both support one another and see amazing results!

Now, pick your top one or two priorities.

Do they have the strength to overrule any objections that you come up with?

Can they withstand your internal temptations?

How badly do you want this?

Wow! If you made it through those questions, sounds like one amazing priority!

What does this have to do with finances?

After selecting your life priorities, think about how your finances can help make this a reality.

Being debt free has an obvious correlation to your finances, but how about gaining more 'time'.

Why do you not have the time now? Answer: I work too many hours.

Why do you work so many hours? Answer: I need to pay my bills.

What bills do you have to pay? Answer: Home, utilities, debt, and food.

Might removing your debt (or lowering your other bills), remove your need for the current job, thereby giving you an opportunity to find a job where you can work fewer hours, and give you time to be with your family? Answer: Yes!!!!

If you go through this exercise with your priorities, you’ll find that money is the major obstacle for us to reach our priorities – which is obviously why we’re talking about exploiting your finances!

Include others.

The more family and friends that you tell your priorities to, the more they will become real.

Yes, your family and friends may not believe it at first, but don’t worry, this is normal! We’re being different here, going down our own path!

Don't just tell them about your plans, tell them your successes and failures!

Not enough people talk about their priorities and their finances – keeping this hidden does nothing to help accomplish your goals!! Tell the world!

Write the priorities down somewhere in your home. Put reminders up – you’ll need the motivation!

I have a sticky note on my work computer with a countdown to our education year. Every time I need a boost, I update the number of days left – this works wonders!

It’s hard, but doable!

Priorities are determined.

Have your priorities? Good!

This is the most important step in the process!

These priorities will motivate you through the rest of the hard work.

Get ready to Exploit Your Finances, Exploit Your Life!

Join us in the Personal Finance Revolution!

Have you set your priorities? What are they? Have you mapped them back to your finances?

Money Talk

The sounds of a pin dropping.

Go into any group of people, family reunion included, and ask for everyone's budget for the month. I bet what follows is silence, as well as dirty looks, the crowd moving away from you, and someone flipping you off.

The same thing would happen if you asked what everyone's salary was.

Why don't we talk about money?

Because our relationships with money are not strong.

Someone that is financially comfortable and comfortable with their money will answer those questions. Because they'll feel good and want feedback.

Those with a bad relationship don't want feedback, heck they don't want anyone to know about their bad habits, and they know they're bad habits!

I will admit, sharing your salary may be too far and it may even make others feel bad (or worse) to know you make more money.

But let's start small. Let's share.

Let's share how we budget each month - everyone does it differently.

Let's share how we take advantage of company 401(k)s or IRAs, and why we're saving for retirement.

Let's share good financial habits.

Let's share the evils of the credit card balance (I didn't say using credit cards, but rolling over balances).

Let's share tips and tricks for bringing our lunch to work and cooking at home.

Let's share the costs of raising children, the costs of travel, and how to prioritize our money.

Let's talk about money. Let's make some noise! Be heard! Take action!

People are dealing with the same problems. They'll be able to relate.

We can help each other!

Are you comfortable with your money relationship?  Are you willing to talk to others about your good (and bad) habits?

The Vicious Life Cycle

Life can be a vicious cycle.

Working long hours at a stressful job, so you spend lots of money in your free time - to have lots of fun.

Enormous house, fancy car, high-priced travel and entertainment, bar tabs. Sounds about right!

Unfortunately those items add up and have a very tangible long-term impact.

High monthly bills for the home and car. No money leftover from the entertainment and possibly even high interest credit card payments.

You then work harder in that stressful job to pay for the monthly bills, so you don't fall behind. But you still want to have fun in your free time, because you're working so hard!  You deserve it, right?!

And the cycle continues, an entire career of stress and money issues.

The stress causes health problems, which costs even more money...which you don't have, so you put the medical bill on credit. You now have another monthly payment, that you need to cover by earning more...at the stressful job.

Too many bills. You need a higher paying job, which is more stress!

You'll need those performance bonuses (because you've already spent the money), which is more stress.

Stop the cycle!

Work towards financial independence.  Work towards a life where you control how your money impacts your life (not the other way around).

You'll benefit from more fun and enjoyment in life than you did from the high-priced entertainment, because you'll be free - financially, from stress, from the desk.

I'm not saying to not care about your job. Do care. Care because it's the means to the end. Use it as a tool to reach your goals and priorities/dreams. Just don't be used by it.

I'm not saying to not have toys and have fun. Do have fun. But balance it with your current finances. Live within your current financial means.

You'll be stress free. You'll be happy. You'll have time to find yourself and your life.

Play the game, but win. Game the system.

Win not with the highest salary, but instead with the most fulfilled life.

Are you living in the vicious life cycle? How are you planning to break free?

Exploit Your Finances, Exploit Your Life!, A Four Step Process

Are you exploiting your life yet?

No?

Did you know that you can exploit your finances to help?

It's true!

Your finances are the nourishment for exploiting life!

This is not easy - exploiting your life will take a lot of work - but this is doable!

Over the next couple of weeks, I'll be sharing the "Four Steps to Exploiting Your Finances, Exploiting Your Life!"

• Step One, Priorities




• Step Two, Current Finances




• Step Three, Exploit Your Finances




• Step Four, Exploit Your Life

Looks simple, right?

Well, it's not!!

This will get personal. You will want to quit. You will need to have some serious conversations with your partner. You may even cry yourself to sleep at times.

But, you won't be alone!

Please, follow along and, when you can, share your stories of exploiting your finances and exploiting your life!

There Are Only Two Ways to Improve Your Cash Flow

You want more money.

You want to increase your monthly income.

You want to be cash flow positive.

Maybe it’s to pay off your debt (or stop going into debt). Maybe it’s to make a substantial donation to a charity. Or maybe it’s to travel South America for a year.

So, you read books on making money. You read blogs for the secret access to money. You look for the tip that will make you the most money. You study, study, study. You become an expert on finances. You start spouting all of the potential ways to get rich. But you still haven’t added any dollars to your pocket.

I’ll save you some time...and hopefully get your cash flow to a positive state.

If you really want to improve your cash flow, there are only two ways to do it.

• Earn more money.


• Spend less money.

Two ways – that’s it.

I know. Probably not what you were looking for, but it’s true. And, until you can accept that there are only these two ways – and you start acting upon one (or both) of these methods – you’ll always be looking for the secret sauce.

Earn more money.

The first way to increase your cash flow is to earn more money.

Don’t read about it. Go do it. (The secret sauce you've been looking for – action.)

Determine if you’re maximizing your potential at your day job. Is there another role or a promotion that you can strive for? What steps are needed to get the raise?

Maxed out on the day job, how about a night job? Is there part-time work where you can make some additional money?

Interested in starting your own business – an option if you already have a strong interest or skill in a subject, otherwise you’re back to reading and not acting.

How about weekend work?

Yes, it sucks. Working two jobs is exhausting. It’s boring and hard. You're going to miss your favorite TV shows. But you can’t magically conjure up money. You need to work for it.

If you’re not willing to earn more, then…

Spend less money.

The second option for increasing your cash flow is to spend less money.

Nobody chooses this by default right? Well, maybe…

If you like (only) working 40 hours a week and you’d rather have your evenings and weekends to yourself, then your best option is to minimize your outflows.

Cutting your expenses also requires action, so make the first move.

Have you reviewed your current expenses lately? Are you spending on frivolous purchases? Are you buying to be trendy?

If yes, stop wasting your money.

Have you selected the best company/product for the best prices available? Do you have a budget and stick to your budget? Do you review your budget monthly?

If no, build better habits.

You’ll be amazed at how much money you can save by just being aware of your expenses. You’ll question every purchase – “Really, this is where I want to spend my $20? What a waste of money!”

The secret is out - there are only two ways to improve your cash flow.

Earn more or spend less.

Now go. Act! (And spread the word…)

How have you tried to improve your cash flow? Are you taking action? Or are you hesitating and making excuses?

Unexploited Finances: A Personal Finance Revolution

Unexploited Finances is written for those individuals looking for another path...

Another path for your finances and your life.

One where YOU are in control of your FUTURE...NOT your FINANCES.

One where YOU are in control of your LIFE...NOT your FINANCES.

Can you spend the rest of your life at a desk, living pay check to pay check, putting some money in retirement, buying a new car every few years, paying a 30-year mortgage, AND still be happy? Yes!

But there's also another path...

This new path is not without some extra effort on your part.

You'll have to work hard. You'll have to understand your money. You'll have to know your priorities.

BUT...

If you commit, then you'll be able to do amazing things with your life!

• Be financially independent.


• Be debt free.


• Go on multiple vacations a year.


• Take a sabbatical.


• Work for yourself.


• Pick and choose whether you'll let your next job hire you.


• Save for an unconventional retirement.

All of this, using traditional tools but with a non-traditional mindset.

ANOTHER PATH

My wife and I are currently in the middle of our "another path."

We paid off approximately $70,000 of debt (student loans, car loan, personal loan, and credit card debt) and have been living debt-free for over a year - while still exploiting life!

At the same time as paying off our debt, we took a two week trip to Thailand, took a week backpacking trip through the Grand Canyon, took a two week trip to Morocco, and weekend trips around the U.S.

In the past year, we've driven the Ring Road in Iceland and spent a week exploring Cuba.

All while still...

Working conventional jobs, saving for retirement, funding educational funds for family, and planning for our next adventures.

We did not always follow our own financial path, we were once stuck on the 'normal' route.

We purchased trivial items on credit, we planned traditional career paths, and we took our annual vacation.

I know this makes sense for a lot of people. It works. It's easy.

But it wasn't working for us. We were unhappy, we needed a change.

So we made a change!

We TOOK CONTROL of our finances. And therefore, TOOK CONTROL of our lives.

We designed the life that we wanted, we made our finances work for us, and we're living the plan.

Join us in the Personal Finance Revolution!

Read the Four Steps to Unexploited Finances.