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The Money Journal Secret.

Money is all about mindset.

The more I learn about money, the more I realize what’s most important is your mindset and your habits.

There are small things you can do to influence yourself that have a massive impact. It’s almost like magic.

One small habit that can can have a big impact is what Tip Yourself member’s call a “Money Journal”. Here’s how it works.

The power of the Money Journal is based on the psychology of mindfulness. There are countless scientific studies that show how measuring something regularly has a tremendous impact on your power to change it.

The Money Journal applies that science to your money. When it comes to money we’re often not even aware of how we’re spending it.

So how does it work?

For your money journal, you’re going to build a new evening bedtime habit. Put a notepad and a pen by your bed and each evening follow this new habit routine.

Before you go to bed each night,

1. Write down the day’s date.
2. Write down each time you spent money that day.

For each one of your entries, write down the following:

1. What you spent the money on.
2. How much money you spent.
3. Label that spending as Good or Bad.

That’s it. The goal is to consistently write down your spending every night.

Let’s look at an example, say you went out to dinner tonight with friends. Before you go to bed that night you’ll write down what you spent that day.

1. Filled up my car with gas. $40. Good
2. Online shopping on my lunch break. $35. Bad.
3. Dinner with friends. $40. Good

The good and bad label is just a check in with yourself. It’s a gut check on how you feel about that spending. The important label there is how YOU feel not what anyone else thinks.

Maybe for you the online shopping was a good spend because it was something your really needed or something that’s going to make you happy.

It’s your money. It’s your Money Journal.

The purpose of the Money Journey is to make yourself more aware. Not to judge yourself every night.

You’re not trying to have a no spend day or only have “good” spends. The goal of the journal is awareness. So be honest with yourself and stay focused on the habit of consistently writing down your spend every night.

The magic is how the awareness will make it easier for you to avoid temptation during the day. The power is in the psychology, but you have to get into the habit of writing in your money journal every night.

Go back and read the steps again. Simple right? You’re going to be amazed at how big of an impact this small habit will have on your ability to save money.

Start tonight.

Give it 2 weeks and trust me. It’s magic.

So, are you going to give this a try? Let the Tip Yourself Member group know and we can help keep you accountable. — POST HERE

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