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Johannesburg, South Africa

tanya@tanyahaffern.co.za

© 2017 Tanya Haffern

 

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Wealthy Wednesday: 7 August 2019

August 7, 2019

WHAT WOULD YOU LIKE TO READ ABOUT ON THE WEEKLY BLOG?

SEND ME YOUR SUGGESTIONS ON tanya@tanyahaffern.co.za 

I'D LOVE TO HEAR FROM YOU!

Every week we focus on strategies to create passive income and increase your wealth. But how do you get there if you are drowning in debt?

 

Here are ten top tips to help you bounce back fast!

 

1. Assess the damage

Go through your bank and credit card statements. Determine which budget categories were impacted and by how much. Don’t be tempted to skip this step. You can’t fix your financial woes until you define what they are.

 

2. Keep a money diary

Documenting your spending in a money diary will be an eye-opener. Understanding your spending habits will make you think critically about your spending in future.

 

3. Pay yourself first

You need savings to cover unexpected expenses. Move money to your savings automatically before you even see it. If you don’t currently save, start with 5%. Then add one percent monthly until you reach a minimum of 20%.

 

4. Return eligible items

Are there items you simply HAD to have because they were on sale? If you haven’t worn them yet, return them. Money will make you feel more empowered than any dress ever could. Did you receive unwanted gifts? Return them.

 

5. Find an accountability partner

Find a friend or ask your partner to keep you accountable. Agree on certain targets and a check in date. You will be less inclined to spend randomly when you know you must explain later!

 

6. Pay it off

Contact your bank to consolidate your debt into the account that offers the lowest interest rate. Instead of hiding from the problem, being upfront and honest about your situation will yield surprising results.

 

7. Take time to understand why you spent so much

Do some self-reflection and figure out what happened. Unless you address the root cause, your overspending is not going to stop. You’ll find yourself repeating these same steps over and over again.

 

8. Give Every Rand a Job

To curb your overspending habits, find a home for every Rand in your budget. If you have excess money left over once your bills are settled, transfer it into your savings account to stop thoughtless purchases simply because your bank balance is not yet zero.

 

9. Set Short Term Financial Goals

Kick off the new year with some goals to remind yourself of the good reasons you’re making a few sacrifices to get yourself back on track. Set simple attainable goals, such as “I will decrease my spending on eating out from R800 a month to R100 a month.”

 

10. Delay Gratification

Before you buy, imagine how you’ll be using that "must-have" item a month from now.

Will that dress still look good after a few washes? Will your kids still be playing with that gimmicky toy? If you really need it, work it into your future budget and buy it without the guilt because it’s in the budget.

 

Which tips are you going to implement in your life today? Remember nothing changes unless YOU change!

WHAT I AM READING: The Transformation Challenge: Steven and Robert Shallenberger

 

 

The Transformation Challenge is a new approach to winning in business and life. It helps people develop a clear path forward, whether in a large team or solving an individual challenge.The Transformation Challenge will revolutionize the results in your business and personal life.

 

It offers a 6 step process to help you work through any challenge you are facing whether it is personal or business related.

 

Try it - it is...transformational!

 

 QUOTE OF THE WEEK:

Follow me @escapingcorporatebondage on Facebook for daily inspiration,

FB lives and heaps of fun! 

Did you know I present talks on:

  • WORK LIFE BALANCE FOR WOMEN: My keynote address discussing ideas and suggestions on how to create the elusive balance we all chase!

  • FINANCIAL WELLNESS: Learn how to build wealth, budget, save, and invest properly, formulate a workable plan to get you out of debt as quickly as possible, know your financial status and understand where your money goes and so much more!

  • HOW TO PRESENT POWERFULLY: Learn how to communicate your message with confidence and ease.

  • DEALING WITH RETRENCHMENT: Understand how to navigate the nightmare of retrenchment with confidence and create a new life on your own terms

  • MORNING RITUALS: The way you begin your day has a profound impact upon you feel and how your day flows for you. Learn how to experience life in a peak state most of the time, and you will experience more joy, fulfillment and success as a result.

Contact me on tanya@tanyahaffern.co.za to find out more!

Want to work with me online as we take your dream into reality?

 

Work with me over three months from anywhere in the world as you learn how to create additional streams of income with ease! The course is hosted on Teachable which is easy to navigate and beautiful to behold. True story :-)

Contact me on tanya@tanyahaffern.co.za to learn more or click on the image to watch an informative video now!

 

Click on the Facebook logo to follow me at 

Escaping Corporate  for regular FB lives, daily posts and loads of inspiration!

 

Click on the image on the left to buy a copy of my best selling book,

 

ESCAPING CORPORATE BONDAGE

 

You can order a signed paperback copy by emailing me on tanya@tanyahaffern.co.za

If you no longer wish to hear from me or receive strategies for living your best life, I'll be confused, lost, and lonely.  C'mon, how often do you take time out to think about your life and business? 
And how often do you hear it from expert sources? That's what I'm trying to help you with. 
But, if you must go, I understand. Just unsubscribe by clicking on the image or HERE
I hope our paths cross again someday. Until then, here's to your massive success!

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