Some days it is hard to think of a post that isn't just a mess of random thoughts and experiences I have had since my last post. Hence I used a term my British mother in law uses a lot called "Bits & Bobs" which means a little bit of everything.
I'll start with a photo, which is actually the main reason I write so little these days. I'm not sure if it is a lack of things to take pictures of or is it the energy involved to take the camera to the thing to capture it's image in the darkened skies over the Pacific northwest (which makes taking pictures challenging)? Either way, when I don't have a photo to share with you, somehow I feel that I am betraying anyone who reads my blog. Especially a thrifting blog when I should be sharing my thrifted finds. A lot has changed in the last year and I'm at the point where I am buying less and less for myself and more to resell. This is a positive thing for my bank account though. For the first time since the wedding we get to sit back and think about what to do with the money I am bringing in.
Sometimes I'll be sitting at the computer with a book in hand, intending to list the book on my little bookstore but then I'll turn it over and something tells me I need to read this book. This is how I stumbled upon a book called The Millionaire Mind by T. Harv Eker. With my Anthropologie clothing style on my Target budget I have been making affirmations and searching for goals to seek more money. Sometimes it's as simple as wishing for a check in the mail and receiving one the next day. Other times my mind is whirling on how to create more income. With our family money on the rise because of my business, I am now looking for something to do with it. I know I could easily spend every penny of it and please remind me not to let loose in Anthropologie again with three hours to browse at my leisure. This was my main damage and I love every inch of it. I told myself that it was too expensive, far too luxurious for someone who lives on a rural island and dodges rain puddles going out to my driveway. But when the salesclerk offered 15% off because a button fell off when I was taking it off, how could my thrifty side resist? And actually the button fell of in the beginning of the three hours and I only learned about the 15% off when I asked to try it on one more time before I left the store coatless. It was love at first coat for me and I haven't regretted it since. But I learned a lot during my time in this store that my thrifty side doesn't reason with me as well as it does at a rummage sale or even at the sometimes overpriced Goodwill. I contemplated that it's not like I want to buy everything in Gap because it will make me look trendy. It's like Anthropologie has always been the style I have been craving to wear since I was a teenager or maybe younger. I used to love wearing gunny sack dresses when they weren't so cool. When knickers were in fashion during my 4th grade year, I was in heaven. My only question is why does this style have to cost so much?
And with the subject back on money, I learned in this book that money can be just a way of thinking. There isn't a single reason why I shouldn't have heaps of it. There isn't a reason why anyone shouldn't have money. The book talks about our money blueprint which is basically things we learned about money when we were growing up. My parents still tell me that they can't afford to do this and that. They don't have a retirement, but they do have rental houses. Their income is limited but their resources are abundant. A year ago I would use these words, "I can't afford" many times in a single conversation. But it wasn't that I couldn't afford to pay a babysitter $12.00 an hour. I'm sure I could find the money. The key was, I didn't want to pay that much. I was talking in scarcity and not abundance. Even with time, when we say I don't have time to do that, do we really not have time? Or do we choose to use our time in another way. I was finding it hard to find time to list books to my website in the morning. I started to say, "I don't have time to list anymore." The reality was, I came downstairs, did some stretches and read my email for half an hour. That's why I didn't have time. Now I get on the computer and I choose to work first and emails later.
This is Cerys's set of jars. The Millionaire Mind suggest using jars to put your money in and later transferring it to a bank account although always leaving something in the jar because like attracts like. I started a basket in my office that I put some money in. I couldn't believe how quickly I accumulated money that went into the basket. After I made my jars, I grabbed the basket and distributed the cash into each jar. The jars for adults are:
-FFA Financial Freedom Jar. 10% of your income after taxes. This is what he Harv calls the Golden Egg. This is money to only invest and never use even when you retire. You can buy stocks or bonds or leave it in a high interest savings account.
-LTSS - Long Term Savings for Spending. 10% of your income after taxes. I love the idea of this one because you can come up with a big ticket item you want to buy. We need to replace our windows desperately so this would be the perfect thing to save for. Not as exciting as a vacation or a hot tub but in the long run, new windows would save us a lot of money on our heating bill. You can feel the breeze in each room during the winter.
-EDU Education jar. Another 10%, but I'm not sure I would do 10%. He offers a lot of very expensive seminars of which you would need to save 10% of your income. I just attended a free seminar but it was far too much upselling for me. Other things you could buy would be DVD's, CD's & books to educate yourself more in anything that interest you.
-NEC - Neccessites. Food, rent, mortgage, bills etc.. He says 55% of your income after taxes should fall into this.
-Play -this one is where you make sure you spend it each month. He says rent a yacht for a half hour, get a massage and nurture yourself. The problem with budgets is you feel restrained and then you abandon all saving efforts. This way, you get to enjoy spending as well as saving. This one is also a 10% jar.
-Give -this one is for charity or church and he suggest 5%. I'm sure many people would want to give more. Maybe 10% to the give jar and 5% to the EDU jar.
The children's jars are Wealth 10% (savings that grow into their golden goose), Plan (like the LTSS), Learn (their education jar), Play and Angel. I think the most fun was watching the children decorate their jars and divide their money up. They were so excited. Every time they find a penny or a nickel my daughter would drop it in her Give jar and my son would add his to the play jar. I love their priorities.
I am looking at money in a different light and I must say it has taken a lot of stress out of my life. We have so many choices whether it it so buy an expensive coat at Anthropologie or a $5.00 one at Goodwill. Nearly all of my clothing are second hand so it felt absolutely wonderful to splurge on that coat, even now that the buttons are coming off daily. We also have choices to save money or spend every penny of it each month as if we won't have more money coming in. If you get a chance, read the book as it is very eye opening and it may change your life.