Think As Inc

FINANCING BIG CHANGES

October 16, 2009 on 6:58 pm | In life coaching | No Comments

A popular excuse for not making a big change is money.  You don’t have enough money — career coaches, personal trainers, whatever support you need for the big change costs more than you have.  You need the income you have – you don’t have any left over to save for the big change and you certainly don’t have the option of quitting to focus more time on the big change.  However, although money is a legitimate obstacle, there are solutions.  It comes down to the math:  how much do you need and where will you get it.

Think Robin Hood.  Take from one place to give to another.  Look at your discretionary income after the fixed bills are paid.  Can you shave off dollars from dining out, entertainment, travel, clothes?  Can you find cheaper phone service, insurance, groceries? 

Raise your income.  Can you get a second job and use the proceeds for the big change?  The holidays are coming up so think weekend shifts at the neighborhood store, overtime for filling in for colleagues, or offering your services to the neighborhood (e.g., babysitting).  Remember that you need your energy for the big change.  This job is just for money so pick something you know you can do in which you won’t get too invested.

Challenge your assumptions.  Still don’t have enough?  Have you really separated out discretionary income or are non-essentials still in there?  Cable TV is not an essential when you are questioning all expenses.  Are you sure you need this money?  Can you take a group class rather than a private trainer?  Are you sure you have itemized all expenses?  When you are trying to find the wasted dollars, you need to take a microscope to your spending – analyze every bill for 90 days; keep a cash-spending log.  There are gaps between what you actually spend and what you think you spend, so be willing to challenge your memory and actually look.