The so-called ‘fiscal cliff bill’ may have left you disenchanted after receiving your first paycheck of 2013. This is a result of the fact that the fiscal cliff bill did not to extend the Social Security tax cuts and allowed the Social Security payroll tax rate to jump back from 4.2% to 6.2%. One of the major issues with all of this is simply that there was no adjustment period. Since it became effective on New Year’s day, no one had time to prepare for the new year’s loss of income. For many, this small increase in social security tax left you with a big hole in your budget and with the feeling that you may be even more strapped for money as you adjust to this pay cut.
This next video in my “Conversations with Leslie” series is titled free advice –because that is exactly what it is. Although a seemingly simple piece of advice, saying “no” is the biggest problem that most of my clients and prospective clients have. It is hard not to indulge in today’s society, and it becomes hard to say no to all those credit card offers, to say no to something you really want and feel you deserve and to say no to your family and your friends. Say no to that morning latte, bring lunch to work, eat out less, buy store brand products and learn to say no.
Saying no isn’t always easy—but once you begin to deny yourself and others luxuries you will see yourself heading down a better financial path. You will be able to create a budget which includes room for savings and emergency money, as well as money to help you get out of debt.
I am not saying don’t treat yourself! It’s time to cut back on things you don’t really need! But, I do encourage you to work some “me” money into your budget—this way you get to treat yourself while still staying within your means.
Watch the video below and let me know what you need to or are starting to say no to.