The Bread and The Butter .... because you can't have one without the other

Newsletter 1: May 2023  

The Bread

Have you ever heard the statement “money doesn’t grow on trees”? If you are like me, you’ve even caught yourself saying it. 

This statement and others like it shaped our money mindset in childhood. It leads to money igniting emotions of shame and scarcity. 

When your money relationship intertwines emotions of scarcity, you operate from a place of fear. Your focus becomes not losing rather than focusing on winning.

 

The Butter

Over the next few months, we will dig out the roots of scarcity, shame and fear and replant seeds of confidence, accomplishment and joy. 

How to start the process: 

Your May behavioural challenge is to spring-clean your credit cards.

 

Step 1

Look through your credit card statement and list out all your monthly subscriptions.

 

Step 2

Consider how much you use each subscription source individually.

 

A few months ago, I decided our family did not need Amazon Prime, Apple TV and Netflix simultaneously. We cancelled Apple TV and Netflix with the mindset to have 1 TV streaming service at a time.

This decision saved us $29.98/ month, and $359/year ($20.99/month for Netflix and $8.99/month for Apple TV)

 

Step 3

For the subscriptions you decide to cancel, log in to the site today and remove automatic renewal. This step will ensure you don’t forget to cancel it while still getting the service to the end of the payment period.

 

Step 4

Allocate the money saved to your debt payments or, if you don’t have debt, transfer it to your TFSA. 

 

By intentionally providing a new job for the money by transferring it to debt or savings, you reduce the chance of spending it randomly.  

 

Connect with me today to set up a TFSA investment account or discuss debt consolidation options.

 

Question to ponder: 

What does wealth look like to you?

(There is no right or wrong answer as the answer to this question will be the fertilizer for the soil as you replant.)