Dealing with Money Disorders

1. If you have high interest rate credit card debt, vow to not put any further “wants” on credit until it’s all paid off.

2. Get realistic – you still need to treat yourself.  But plan your spending and budget for credit repayment WHILE saving up for future purchases.  Like with a diet, if it isn’t a lifestyle change, you’re never going to stick to it.

3. Look at your past spending – what did you buy and WHY?  Big ticket items?  Make a list of 50 fun, creative and satisfying purchases under $10 and under $20

4. Track your spending … my 30 day anti-budget – where can  you get more income or creatively cut expenses without curbing your fun spending.

5. Crunch the numbers – when you add up your spending on the “stuff” and see how much that is costing you in interest over 5 years, or, how if that money was invested in an RRSP or used to pay down the mortgage, it accesses a different part of the brain that slowly sees the long-term picture (this is why retailers tell us it’s only $20 a month or a few dollars a day – our brain can’t think of the long-term impact without crunching the numbers.