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  • Writer's pictureKelsey

The Money Diet

When I think about managing finances, I think about diets. Each New Year many people make resolutions to get in shape, and it seems like every major diet is trending and trying to get one to enroll in their program. Keto, Whole 30, Intermittent Fasting, Counting Calories. I have tried many diets and have lasted maybe a day. There are parts of each that resonate with me, but I can never fully commit to just one program.


Similarly in the financial space, there is a multitude of money frameworks, programs, and steps to get our finances under control. There are all-cash diets, no spend months, paying off high-interest debt first, paying off the lowest debt balance first, the FIRE (Financial Independence, Retire Early) movement.


I will never push a framework or rigid process for managing your finances because that is not how I operate. There are a plethora of other resources and programs out there already offering steps and a process they believe in. If that is what you are looking for, please feel free to research various financial movements and plans!


The fundamentals of money management are similar to the fundamentals of the food we put into our bodies.


If calories in are greater than the calories out, we will gain weight. If the money we spend is greater than the money we bring in, we will go into debt. It's that simple.


Calories in > Calories out = Weight Gain


Spending > Income = Debt

Unfortunately, there is no magic trick that will make us all millionaires overnight (except the lottery, which I do not recommend. Our odds are better of getting struck by lightning). Likewise, there is no magic pill that will have everyone losing weight. If there was we would all be fit.


Getting our financials in control will take hard work, diligence, and dedication. Once we establish good habits, along with automation, the process becomes simple.


Dave Ramsey says, "Winning at money is 80% behavior and 20% head knowledge. What to do isn't the problem, doing it is."


I welcome you on this journey of financial success and feeling empowered about your financial future. I will continue sharing tips and tricks that I have learned along the way, along with third-party resources and tools that I use and find helpful.


Like with our physical health, our financial health is just as important and I am thankful you are here to feel empowered on your financial wellness journey.


Kelsey

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