When you’re serious about growing a business or net worth you can’t be frivolous. There’s no room for wasted time or money. That might mean that at this point in your life you can’t go to happy hour or you’re going to have to sit out on the annual meet up with your friends.
That’s fine. In due time, you’ll be able to indulge in those pleasures again. But for now, you need to save your coins and invest your money into more important things.
Use my personal budget template to create a monthly budget you can stick to. Just go to file —> make a copy and get to work writing out your expenses. It might take a few times for you to get used to underspending, but once you start keeping track of the money going out of your account and what it’s going toward, you’ll realize where you need to cut back.
Don’t know where to start? Try tracking your spending on a daily and weekly basis and keeping a personal finance journal. You’ll be surprised how much those UberEats or coffee runs or buying a round during happy hour adds up…
The process of manually going through your finances each month and painfully realizing the random places your money is going will make you realize how much you can actually invest in your business, your passion projects, or the things you truly want out of life.
Here are some apps and online tools you can use to help manage your money better.