Sat, 30 May 2015
A recent poll by the American Psychological association indicates, the #1 stress inducer for Americans is money. It's not an abundance of money causing the problems, either. It's a lack of it.
This might hurt, but, the truth is, for most people, money issues are caused by spending more than you make.
Yes, I know, you may have lost your job prematurely
Yes, you may have had some surprise medical bills
Yes, there are a number of items which may have hurt you financially
Most of us are struggling financially because we’re spending more than we make. That's always been the case for me, when I've been struggling with money. Honestly, you'll have to answer this for yourself, but I have yet to meet someone, who was completely honest with themselves, who didn't have a major part in their money problems.
Even if you’ve been hit with a surprise bill, the truth is, we (myself included) didn’t have the money to pay it because we spent more than we made and didn’t have the money to save for those unexpected expenses.
So let’s talk about spending less than we make.
There are a lot of budgets out there. From a standard spreadsheet to a specialty app for our phone or computer. The Mint app is available in the iTunes App store and in Google Play. But, it's great for seeing where you money went, but it won't do much to keep it going where you've told it to go.
But, I’m going to give you the absolute easiest system available.
The envelope system
Before we talk about this, I want to stress with you, involve those who will be impacted. Your spouse and kids will need to be on board from the very beginning if you want to make this budget work.
The biggest reason a budget won’t work… You underestimate what you’re going to spend. So, take a moment and look at your previous bank statements to see what’s been going out. But, remember, this doesn’t set the number but it tells you where you’re at right now. It gives you a ballpark number.
From this ballpark number, you'll be able to look at where you need to tighten your belt and were you need to possibly loosen it and budget for more.
If you’ve been spending $800 a month in groceries, but when you set up your budget, you write down $500, you're probably setting yourself up for failure. That’s pretty unrealistic
Here’s what you do:
Pay the fixed costs
Rent or Mortgage
Other debt with a minimum payment.
Get all of those figured out and pay them immediately.
Put something away into savings. Do it NOW. You can’t avoid the fixed costs, but you CAN adjust the variables we’re about to go into. Make sure you take BABY STEPS in your effort to get yourself where you WANT to be.
The balance will be taken out of the bank in cash and distributed among some envelopes
You will have to evaluate frequently. For example:
Groceries (this may have to adjust)
Gas Money (this may have to adjust)
Clothing (don’t spent it ALL… remember Back-to-School)
Annual Expenses (Vehicle Registration, Maintenance, Holiday Gifts)
Travel or Vacation
Hopefully this all helps you get to the point where you have a basic budget that allows you to tell your money what to do, rather than it telling you what you can or can't do.
Budgets work if you make them realistic.
Thu, 28 May 2015
So much pressure… LIFE purpose. We think this is the meaning of our entire life.
This episode is inspired by a conversation between Lewis Howes of the School of Greatness Podcast and Jay Papisan, the author of The One Thing.
When I was 20, my life purpose was much different than it is now.
Don’t confuse the 50,000 foot view with the 1,000 foot view.
The higher you go, the less defined the image.
Think about a picture of earth from the International Space
Can you make out your state? Your city? Your neighborhood?
But RIGHT NOW, you have to go pick your kid up from school.
What I have to do RIGHT NOW is different from what i have to do in life.
My International Space Station view says my purpose is to love.
Think about it as a cone.
My life purpose is the tip.
The further I get from that, the more wiggle room I have.
What I have to do today, should be in the direction of that tip… love, but it doesn't have to BE the tip.
Like a compass, choose your next step based on where it’s pointing.
As long as you have that arrow defining “NORTH” or “YOUR PURPOSE”, you can explore. Just stay moving in that direction.
What will you do today? This week? This year?
What do you want to do in the next 5 years. (these goals change).
Reset every day, every week, every month.
But keep the compass in your hand so you know if you’ve gotten off course.
But don’t be afraid to explore.
Wed, 27 May 2015
"Do the insignificant consistently and it becomes something significant."
Here are the five things I would teach my younger self:
1. Success doesn’t come from extraordinary ideas. Instead it comes from extraordinary consistency.
2. Don’t chase money, instead pursue your soul’s desire.
3. Focus on one thing until it’s done.
4. Save whatever you can on a regular basis. It doesn’t have to be huge. Just $10 a paycheck would have made a huge difference. It’s not really about the money, it’s about the discipline of doing it.
5. Exercise regularly - Again, it’s not about being a muscle-head, it’s about the discipline
Tue, 26 May 2015
I heard Jay Papasan, the author of The One Thing, share an old Russian Proverb that says, "If you chase two rabbits, you will not catch either one."
This is what so many of us, myself included, do each and every day. We spend our saying chasing after two, three, four, or even more rabbits. At the end of the day, we feel exhausted and demoralized having not accomplished our goal.
Define and focus on achieving The One Thing you need to do each day.
Make it a habit for yourself or your entire team (if you have one), to define and celebrate the accomplishment of The One Thing you need to do today.
Too often, we feel like we're losing and not accomplishing much because we focus too far down the road. Paint a finish line just a few steps down the street and celebrate crossing it. Then paint another one and celebrate again.
Have your finish lines clearly marked. Celebrate when you cross them.
CALL TO ACTION:
Define today's ONE THING.
Celebrate it's accomplishment.
Find out what fear is holding you back from achieving your goals:
Mon, 25 May 2015
In this episode, we're going to get a little personal a very deep into our belief systems surrounding our own identity.
This episode is going to challenge you and help you grow in a big way.
The best part is, I'm going to show you how to turn this negative power into a positive so others will be treating you like royalty.
I'd really love to have your feedback, please tweet me @pdesmondadams
Fri, 22 May 2015
Most people have seen and even used the Podcast app that comes preinstalled on your iPhone, or you've used Stitcher Radio on your Android.
In this episode, I'm going to share with you a few other podcast player apps which you may not know about yet. These are ones which came highly recommended by other podcasters, so you know they're going to meet the needs of most listeners.
I'll be sharing about the following:
Overcast - iOS w/ Apple Watch support
Free to use with additional features unlocked for $4.99
Podcast Addict - Android - w/ Android Ware support
Free with a small banner ad which can be removed for $2.99
Downcast - iOS & Mac
Pocket Casts - iOS, Android & Windows Phone
Thu, 21 May 2015
In this episode, I share the information gathered in a study done in the 1970's to find out why people weren't happier as their incomes increased in the United States. Out of this came something called The Easterlin Paradox.
I talk about why we buy things and what we're actually seeking when we do.
Things are never part of you, but experiences are. When you pass-on, you will leave all of your things here on earth, but take everyone one of your experiences with you.
Shared experiences are an incredibly powerful part of all relationships. Because experiences become part of who I am and you're experiences are part of who you are, our shared experiences connect us at a deeper level.
It's incredibly difficult to compare experiences. We do this all the time with "things" we own, but your experiences are unique to you and can't be compared. I discuss why this helps add value to your experiences.
My Free Gift
You can still grab your free gift - Five Fears That Are Killing Your Dreams:
visit http://PDesmondAdams.com/5fears or
Send a text to 33444 with the word MYFREEGIFT in the body.
Tue, 19 May 2015
Grab your free one page report on the 5 fears that are keeping you from finishing what you've started and finally reaching your goals.
Or Text the word MYFREEGIFT to 33444 and I'll send the report immediately (only works in the U.S.)
Look at Your Money Like You Do Your Time
We can benefit greatly from looking at our money the same way we look at our time. There is no way you're going to spend 25 hours in one day doing anything. You can't use more time than you have available. It's impossible.
Rest is like a savings plan. Most of us spend all the money that comes into our life. If we did the same thing with our time, we'd be in the hospital being treated for exhaustion. Honestly, that's what a lot of bank accounts need, to be treated for exhaustion.
Start with budget
We all have clocks which tell us how much time is left in our day. Once the clock strikes midnight, that's it, the day is over. Our budget acts in the same manner.
Your budget doesn't need to be complex. In fact, keep it as simple as possible, at least in the beginning.
It's not just about saving
The wealthy don't just focus on savings. They focus on earning as well.
Get rid of your debt on depreciating items
Other than real property (for most people, your home) everything else is a depreciating assets.
Homes can be a tremendous investment when you leverage your money (with a small down payment) and including the magic of compounding interest.
Self Discipline is spending less than you earn
The same rule you use for money can be used for food or other items.
This is how the wealthy are different from the rest of society.
This is how the physically fit are different from the rest of society
Tue, 19 May 2015
I explain the top 5 items which seem to have nothing to do with productivity, but they're making us less productive.
You'll have to listen to the episode to really understand these items, so I'm not going to list them here. Not trying to force you to list, but I think you'd read the list and just not realize why each one is so incredibly important.
This episode, as with all of them, is less than 20 minutes long. You can invest 20 minutes to find out what's slowing down your productivity.
I also share how you can get a free copy of my one page report on the five fears which are stopping most of us from finishing what we've started. Get it at http://PDesmondAdams.com/5fears
** if you're in the U.S. you can also send a text to 33444 with the words MYFREEGIFT in the body, to 33444.
Sun, 17 May 2015
I share about my personal struggles with constantly stopping what I'm doing in order to measure how well I'm doing.
For years this has been called The Paralysis of Analysis
Truth is, you'll learn more by doing, failing and recovering than you ever will by analyzing all the ways you might possibly fail. So.. get started.
I give some examples of how this is a reality in my life and the lives of some people I've recently talked with.
I also share some ways you can control this... but mostly, it's about just getting started.
*** If you want to join our Facebook group "Success for Failures" you can go to: