“Unless commitment is made, there are only promises and hopes; but no plans.” ~ Peter F. Drucker
If you have been reading my journal for the past month, you will know that I have been committed to taking my relationship with money to a different level (you can read about past posts here and here). Since I wrote the last journal entry about seeing some of the beliefs and thoughts I believed about money, I have been taking action and fixing any money leaks in my finances.
What is a Money Leak?
Just like when a tap leaks, money can also leak. Leaks can relate to anything (i.e. people, time, projects) that prevent us from standing in our own power or being our true self. Locating money leaks help us support ourselves and focus on the things that are important to us (i.e. health, friends, family and work).
Now can I just say – I had so much FUN doing this! Really!!! I felt like a kid all over again – a bit like being the banker when I was a child playing monopoly with my family.
Actions and Results…
After identifying my money leaks, what were some of the actions and results I took to transform my money leaks? They were –
- Changed my Home Insurance – after speaking to my Aunty a while back (who was in insurance) I asked her what she thought my home insurance should be (I knew I was paying too much, but wanted some help). Subsequently I changed my insurance and am now saving just over $3 per month (which is $36 per year). N.B. I have already bundled my insurance policies which has helped me save money over the years as well.
- Changed my Home Loan rate – one thing I have been aware of (since 2012 when I was nearly forced to sell my place) is my home loan. Just recently I went and had a conversation with my bank and was very grateful my interest rate was changed from 5.18% to 4.79%. This will save me a substantial amount over the coming year.
- Updated my Computer – yes it was time for me to update my computer. I identified what I required and then investigated what my options were. The result? Another saving – this time a saving of $156 per year.
I hope this post has helped inspire you to fix any money leaks in your life and realise clarity around your matters! Feel free to share your ideas in the comments section below or on our Facebook page.
And remember – “Until one is committed, there is hesitancy, the chance to draw back. Concerning all acts of initiative (and creation), there is one elementary truth, the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then Providence moves too. All sorts of things occur to help one that would never otherwise have occurred. A whole stream of events issues from the decision, raising in one’s favor all manner of unforeseen incidents and meetings and material assistance, which no man could have dreamed would have come his way. Whatever you can do, or dream you can do, begin it. Boldness has genius, power, and magic in it. Begin it now.” ~ William H. Murray
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