SwCA Episode 156: Suze Orman Is Right! You Can't Afford It and Neither Can I!

SITE: http://www.courtneyanderson.com/swca-episode-156-financial-fierceness-series-suze-orman-is-right-you-canrsquot-afford-it-and-neither-can-i.html SHOW NOTES: Our FINANCIAL FIERCENESS!™ series integrates our financial goals into our development plan for surpassing our goals. We deal with the specific issues we need to explore in order to achieve (and surpass) our financial goals. This episode is, “Suze Orman Is Right! You Can’t Afford It and Neither Can I! This show is referencing the “Can You Afford It” segment on the Suze Orman show (here is the link to apply to be a guest on it at http://www.suzeorman.com/the-suze-orman-show/be-a-guest-on-the-suze-orman-show/topics/can-i-afford-it/). I have watched this show and it amazes me how people who cannot afford anything (other than bare necessities) appear to be shocked when they are told they cannot afford the purchase (due to debt, low or no income, insufficient savings, etc.). On the other end of the spectrum people who can afford the purchase (based on income, investments, savings, low or no debt, etc.) are shocked when they are told they can afford the purchase! This is due to a lack of data influencing our math decisions and a lack of self-awareness influencing the emotional decisions.  Money I have - Money I Owe = Money I Can Use (save, spend, etc.) Money I have = Money I have Future money ≠ (does not equal) Money I have Future money includes future paycheck, future appreciation, etc.  The default position we all should have is that we cannot afford it! We may not be able to afford the math part of the equation (not have sufficient income, savings, etc) or we may not be able to afford the emotional aspect of the equation (decreased happiness due to lack of anticipation). No matter how many financial resources we have, the anticipation of a treat (by denying, delaying and/ or limiting a purchase) will make us happier. For example, “a large body of research suggests the value of what we call “Make it a Treat.” By limiting our access to certain products, we enhance our consumption greatly once we encounter those products again.” (http://www.scientificamerican.com/article/using-money-to-buy-happiness/) I deny myself items that I want all of the time! Consider: 1) We can’t afford it. 2) Plan ahead (save and/or research more) to create and enhance anticipation. 3) Purchase only when the math supports it (in regards to debt, savings, etc.). 4) Maintain the purchase. 5) Repair the purchase. 6) Last option is to replace the purchase. Remember to use your “Money Days” to go through your bills and cut costs. A penny saved is a penny earned. I saved over $120 per month on my mobile phone bill with show sponsor Ting (https://zjjbst19hp4.ting.com/)! I strongly recommend that you check and see if you will be able to realize savings on your mobile phone!    Your mission is to keep as much money as you can and not give it away (by buying something). Start with the assumption that you and I can’t afford it and we will enhance our financial and economic opportunities together! © Courtney Anderson Enterprises LLC  CourtneyAnderson.com   [email protected]