Day 5: How to Boost Your Credit Score with Little Effort

Identify and take care of your needs first, ie: food, shelter, clothing (this doesn’t include trendy must-haves), water, etc. A need is something you have to have in order to maintain life. For example; if you don’t eat or drink water, you will not be able sustain life.

Next, identify, write down, and share no more than two loves. This is very important. We often neglect the things we love, in favor of our likes and wants, because likes and wants tend to cost less and take less patience to acquire.

Having trouble thinking of your loves? Answer this question – If you had Oprah’s bank account, what would you do or what would you do more of? Choose two of these things and those are likely the loves of your life.

If we’re to change our Money Mindset this week, it’s important that we switch to one of a purposeful, passionate financial life.

Needs = purpose

Loves = passion

If you don’t need it, or love it, then you should consider leaving it.

Spending money on likes or wants, means you’ll have less money for purchases that truly improve the quality of your life.

Note: It’s not necessary to cut out all of your likes & wants. It’s just important that you prioritize what’s important. 

I grew up taking tennis lessons and although they weren’t a need, they certainly added value to my life. Now if my parents had to forgo a need to provide the lessons, then that would not have been a good choice. As long as your spending adds real value to your life, you’re saving for retirement and emergencies, paying bills on time, managing debt and you can AFFORD it (different than PAY for it), then go for it.

Share that today you’ll make a different choice.