Pocket Money – Put Money in Your Pocket

  • February 4, 2015
  • Kate Sheehan

Money In PocketPocket Money – How to Put More Money in Your Pocket

What puts money in your pocket?

You may be surprised to know that your financial philosophies and daily disciplines are even more important than the amount of money you earn.

No matter what your age, job or title, everyone’s financial decisions are based on their level of financial literacy and how they apply that knowledge.

We often don’t think about the ripple affect our decisions have on others we care about. Some people, even CEO’s and Governments, think too short term. They are unaware of (or ignore) how quickly hardship can result from poor financial decisions.

Financial literacy starts with how you handle money. Even how you deal with small amounts of money can reflect your level of financial thinking.
Imagine you’re at the supermarket shopping for your family:

You can buy loose mushrooms for $11/kg or the same mushrooms pre-packed in a container for $22/kg.
Do you grab a paper bag and put pack the mushrooms yourself or do you take the plastic container?
We are not talking rocket science; it’s just being aware of what how much extra we pay for convenience. This awareness will put money in your pocket every week. Are you paying double the price for the same product?

How financial literacy may work in the business world:

Let’s say you want to buy a hairdressing salon. The owner is asking for $100,000 for fittings etc. and $50,000 for goodwill. You’ve look at the numbers and the profits looks great. But having financial intelligence means knowing that the goodwill will walk out the door when the owner leaves. So even though the trading figures look good, the goodwill fee, makes this deal expensive and needs to be re-negotiated or a better opportunity found elsewhere.

No one is born with financial literacy. We all need to learn and develop the capacity to make sound financial decisions.

Financial literacy + Sound Financial Decisions = Money in Your Pocket. 

Getting the right training, reading the right content and material is key to a sound financial education.
The results will eventually speak for themselves.

Don’t get blaze or under estimate the power of your money decisions. Remember how it will affect you and your loved ones in both the short and long term.

Think about this: Does money grow or diminish in your hands?

We think Gertrude Stein was right when she said, “Money is always there but the pockets change.”  Money usually moves from the uneducated to the educated.

Come to our next ‘Financial Wisdom‘ Workshop if you are interested in learning how to get more money in your pocket.

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