Hang on – don’t I usually advise managing your money, which includes saving and investing in order to become financially secure? Yes, I do.
However, there’s a danger in getting too fixated on saving and denying yourself a life in the present moment. In today’s mission, you’ll learn how much fun throwing out money can be, and how to do it whilst still growing your fortune.
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Task 1: How to spend and not go broke
I have talked about budgets in the past, and budgets are part of all my Coaching programs – because prioritising your passion and living your purpose requires you to have free headspace. You can’t be bogged down by money worries.
Usually, I recommend budgeting in percentages. That way, if your income increases, the percentages stay the same and you’ll simply have more money in each category – such as living costs, savings, etc.
This is where “throwing out money” comes in. Two budget categories I recommend are called “gifts” and “play” and should be 5-10% of your net income. Every month, you’ll have money to donate or buy presents with. You’ll also have “Play” money for yourself.
The only rule about “Play” money is that it can’t be spent on anything you need. It’s literally money to throw out the window and buy something silly that tickles your fancy.
Task 2: Why “throwing out money” is important
Spending within your budget means that you can spend carelessly without ever getting into trouble. But there’s more to it.
All evidence points to the insight that spending Play and Gift money actually increases your wealth. Nobody is sure why this is so and the explanations sound a little far out: The universe likes you to enjoy yourself, or money is energy and energy needs to flow, not be hoarded.
Whatever the reason may be, overwhelming evidence is that spending money on things that make you and others happy, tends to attract more wealth. Try it!