These Two Words Can Be Keeping You Broke!

How many times have you asked yourself these questions?:

  • “Why can’t I save money?”

  • “What happened to my paycheck?”

  • “Why can’t I get out of debt and stay out?”

The answers to these questions can be found in two words, “immediate gratification”. Society has become a society that “WANTS”, not “NEEDS”, things “NOW”.

This urgency is directly connected to “mindset”. We must change our mindset in order to change our finances. You can’t keep doing things in the same manner and expecting a different outcome. One must continually exercise their “wealth” mindset muscle to eliminate the “weak” poverty mindset, that keeps families in the negative with regards to their economic security. In addition, another portion of mindset that kick starts immediate gratification is emotions. Emotional spending is one of the primary reasons for debt, poverty, clutter and bankruptcy. Too many individuals are not healing the root of their pain, they are bandaging the pain with purchases.

One of the ways to test this theory, is the next time you want to make a purchase, take a moment to assess how you feel. Is there an urgency to make the purchase, knowing that some or all of the questions mentioned above you ask yourself on a consistent basis?  Do you just throw caution to the wind and make the purchase? Do you make the purchase knowing you can’t afford the item? 

The next time you are going to make a purchase, I invite you to:

  • Assess what you are purchasing and if there’s excitement with having the object in hand “immediately”

  • Ask yourself the above questions, AGAIN

  • Step away and take the time to write your feelings down

Now, that you are practicing being fully aware of your purchases and why you are purchasing these items. Then, compare this with the next time you see something you want to buy. This time decide to “sleep” on the purchase. Or better yet put it one “Layaway”. I heard you say, “Do they still have layaway?” The answer is yes and I challenge you to find the places that have layaway or purchase on, “time” payments, before you get the item. When you find these outlets and make a purchase, take note of the difference in your feelings and write those down. Are you making more sound buying decisions now that you are exercising patience?

So, here lies your challenge. This test will help you decide if you’re an “abuser” of “immediate gratification”. Please note the fact that I didn’t use the word “victim”. This would imply that something was being “done” to you against your will. This is not true, we are very capable of controlling immediate gratification if we choose.

Finally, the true indication is an evaluation of your “debit” and “credit” card statements to see your patterns for spending money. If you have a credit card balance that is used for “non emergency” purchases, chances are you prefer “immediate gratification” versus “delayed gratification”. The problem with immediate gratification is that it keeps us from creating wealth and it is disastrous to our financial success!

As always, I invite your comments! Also, I invite you to research and list some of the places you’ve found that offers “layaway” or “payment” plans and that you don’t receive the merchandise until it’s paid in full. Please share those with our readers. In the future, I will share the list of places, I have, but you’ll have to “WAIT”. This is your first lesson in controlling “immediate gratification”. Here’s to your financial success…

Want to use this article for your Ezine, blog or newsletter? Feel free, but you must keep the article intact including this statement and credit.  Nisha Jackson, is the “The Wealth Breakthrough Catalyst” a sought after Business  & Money Coach, Speaker and Author helping entrepreneurs create wildly successful businesses by maximizing business revenue. As well, she shows women how to effectively manage their personal finances. While earning more and working less so they can live the freedom based lifestyle they deserve. Sign up for information and The Brilliance Newsletter @ www.financiallybrilliantwomen.com or email info@financiallybrilliantwomen.com for more information.

Share

Avoid Debt Related Illness this Holiday Season

This holiday season, I’d like to encourage you to focus on what truly matters to you in your life and what brings you joy. As for me, I’m focusing on good health, the love of family, gratitude and the freedom based lifestyle that wealth affords. I was watching a popular television show recently and the…

Share

FAKO versus FICO Credit Scores: Do You Know the Difference?

Interestingly enough there is much talk these days surrounding FICO scores and how to increase them or keep them “healthy”. However, many don’t understand this number that has many in a panic. Here’s a brief explanation: A FAKO score is the actual industry name for the “credit” score reported by most FREE credit score companies….

Share

The Foundation to Fix Your Money Madness

Our money legacies are passed down through our family. Examples: did you grow up hearing arguments over money, was money discussed at all or was it handled positively. Our money legacies can be negative or positive. We can also change our money legacies.   Our money stories can be negative or positive as well. However,…

Share

Elements of Revenue Generation

The first step in revenue generation is to be clear on the pain or problem your product/service solves for the client. Start with these points in mind:   • Survey your database on how they best learn and what they need• Remember a confused mind doesn’t buy! Be clear in your offer• Create those products…

Share

IT’S TIME!!!

My husband and I recently celebrated our 28th wedding Anniversary! It’s hard to believe it has been that long. Time has just flown by! Much of the time I have to admit, we have been so busy with living our visions and the requirements of everyday life, that “the lightning fast” movement of time really…

Share

A Personal Perspective on Independence Day

As I reflect on what Independence Day (U.S-July 4), means to me, there are mixed emotions. These emotions are very different then when I was young. They have evolved in stages with age and personal responsibility. As a child, I only understood the commercialism of it all. As a young adult, I was a bit…

Share

Marketing: The Profit Is In the Plan

A business that is a well kept secret is a bankrupt business! When clients come to me for coaching, I want to see their marketing plan. But similar to the entrepreneurs that have no business plan, many don’t have a marketing plan or their plan is an inconsistent “fly by the seat of their pants”…

Share

Wealth: The Mind Connection

First, I would like to make this distinction concerning the information contained here. The reference to financial “wealth or wealthy”, is speaking to “new money” acquired by an individual, not “family money” or “inheritance”. Wealthy people have one common connection that drives them to achieve financial success. That connection is their “MIND”.  Our “mind”plays an…

Share

Your Money Mindset is “KEY” to your Business Success!

 Your money mindset is key to the level of financial success you acquire. Money blocks and struggles with accepting success will keep you from advancing in your business. Below are a few ways your money mindset can be affected: Self confidence/self esteem – One’s self confidence and self esteem can keep you from having a…

Share

Please note: This is general information, education and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Financially Brilliant Women’s InstituteTM, LLC and its affiliated companies and entities is not responsible for any losses, damages or claims that may result from your financial or legal decisions.

Please Note: Recommendations on this site may be Affiliate Links (compensation may be received for referrals). However, recommendations are products and services that have been used by this entity and are shared for purposes of communicating entities that have been used by Financially Brilliant women’s InstituteTM and resulted in success at the time of posting. However, please refer to the above note prior to making any decisions to use said recommendations.

Financially Brilliant Women’s InstituteTM LLC | 38713 Tierra Subida #200-610, Palmdale, CA 93551
Email:
support@financiallybrilliantwomen.com| © 2011 Financially Brilliant Women’s InstituteTM LLC