Week 39

Week 39

52 Week Goal Challenge

"The amount of money you have has got nothing to do with what you earn. People earning a million dollars a year can have no money. People earning $35,000 a year can be quite well off. It's not what you earn, it's what you spend."
- Paul Clitheroe

Video Summary:

To complete this week’s challenge you must spend money on essentials only, absolutely no wants.

One of the most common goals that people set, besides physical health goals, is financial goals. For so many people it’s a matter of wanting more, more, more! How do I make more money?

In so many cases, the problem isn’t a matter of not having enough money but poor money management. People who are struggling to make ends meet have, in most cases, get themselves to this point because they are living outside of what they are able to make.

Now yes, there are many cases where people fall on hard times and lose a job and can’t afford living costs for their family, but this is a very rare case. The majority of financial issues is when people choose to live a lifestyle that is not supported by their income and end up going into debt.

I have gotten a lot better over the years but one of my financial Achilles heals is traveling. I love traveling and I have chosen many times to go into debt in order to do so and then I bring financial struggle onto myself.

So this week’s challenge is focused on reining in and gaining control of your finances and understanding the importance of a budget and differentiating between wants and needs. There is a time and a place for wants but it can’t be all the time.

Thank you for reading and good luck!

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