The Concept
“Be cognizant of your financial situation, and organize it in such a way that allows you to consistently grow your finances, at any rate or increment, persistently moving away from living the “Paycheck to Paycheck Lifestyle.”
- Money is Mental
- Shangri la
- How it works
- Budgets Suck
- Lets get started
Money is Mental
Don’t ever forget that. The very root of good money habits and financial independence all starts in your mind. You may have heard of the expression, “That individual has a ‘JOB’ mentality.” Most folks would take that as an insult or at the very least a derogatory remark if it were directed at them. However, 98% of the population has exactly this mentality. It means they get up and go to work every day for a paycheck never really thinking they can or will get ahead of the paycheck to paycheck lifestyle. It means that although they might have a 401K or some other means of saving or even investing, they have no interest in learning how to take control of their finances. Don’t be a 98 percenter!Is this you? If not then this might be you…The serial Entrepreneur. The person who is constantly chasing the dream but never engaging in what it takes to acquire it. Trying everything in the world to make extra money or become a millionaire and failing considerably. Answering every ad, chasing every shiny new idea but consistently never giving anything enough time to work, even if it had the chance. Possibly wasting money because they either invest in the wrong idea or system or simply don’t follow through with it. This is not good either. I was this guy for quite a while.
Daily Spend believes Shangri La is somewhere in between…
You can control your financial outlook and decisions no matter what your income is. However, we have to lift our head before crawling, crawl before walking and walk before running. This achievement gradient is the foundation of all learning and growing. Don’t ever compare yourself to the runner if you are just learning to life your head.
In fact don’t ever compare yourself to anyone period. Someone is always going to be richer and someone is always going to be poorer. Focus on your finances and work your Daily Spend.
For this reason and for our purposes, we describe financial independence as not just having a million dollars in the bank although that would be nice. To us it means being able to make a decision on how you spend your money today with a free and clear conscious.Taking into account your financial obligations (bills), Daily Spend will teach you to be free of fear around finances and create simple choices about your spending habits.
It is the mission of Daily Spend to give you a very simple process and spreadsheet to accomplish this goal.
It works by taking every financial obligation you have during any pay period and calculating what’s left for you to spend on a daily basis until the next time you get paid.
Wait a minute, that sounds like living paycheck to paycheck to me, isn’t the goal to move away from that?
It is indeed but remember we have to lift our head before we crawl. Lifting our head in this case or taking our head out of the sand is simply getting a clear picture of our finances on an extremely micro level. It means we know exactly what we owe and what we can spend.
The next step in Daily spend is making smart decisions with that Daily Spend so as to grow our finances consistently no matter how small.
Let me be clear, Daily Spend is the antithesis of a budget.
Budget – An ESTIMATE of income and expenses for a set period of time!
Daily Spend actually creates and recalculates a real-time budget every minute of the day. So you have an actual accounting of your income and expenses at any time. This information gives you the entire data you need to make informed financial decisions every minute of the day!
To get started take these three simple steps that can be found here – Daily Spend – The System
- Save the Daily Spend Google Sheet Template to your Google Drive
- Set up and plug in your financial data
- Enter your transactions as they occur and Daily Spend will calculate your Daily Spend
At first it may seem cumbersome and maybe a bit of work but once you start seeing the benifits of knowing exactly how much money you have to spend today, you will begin to enjoy the process and you will be amazed at how your image of money and your finances will change for the better.