Are you ready to drain your swamp?
“Draining the swamp” has come to mean getting rid of waste and corruption in politics, but it’s also fitting on a personal level. Happiness and money will flow easier when we drain the clog of our financial institutions, associates, and habits that don’t serve us.
So how do we get ourselves unstuck and make financial progress? How can we stop the waste? How do we get rid of the “insiders” that have become so entrenched despite doing us harm?
Here are the 3 steps that will get you 90% of the way there.
- Consider ditching your bank
If we’re going to clean house, let’s start by figuring out if the house is even worth staying in. Where we house our money is important to our finances. If your bank is constantly finding new ways of draining your account, it’s time to run.
You should not be paying ridiculous fees. You should not stay at a bank that treats you badly (like opens up a secret account in your name) or doesn’t fix mistakes timely. Don’t stay at a bank that gives you a pathetic interest rate on your savings.
Go with a bank that’s looking out for you. You may have better luck with a credit union. Find an institution that makes it easy to track your money (they make copies of your deposit checks and give you calendar-month statements.)
Bonus points for a company whose business practices are ethical and principled. It’s commendable to peace out of an institution that invests in companies that violate your values.
2. Cut out expensive people
Expensive people are those whose costs outweigh their value. They’re a bigger drain than contribution to your life. They’re friends. They’re family. You don’t need to ditch them altogether but limit your time around them.
The ones to look out for are those who ask to borrow money that they never pay back (and most don’t pay it back if we’re being honest), insist on going to bars, restaurants, or malls to hang out, and who complain about their financial situation while refusing to get financially fit.
This is hard because some of these people are nice and you have a history with them, but since you’re the average of the five people you’re closest to, it’s worth showing them the door (while wishing them well).
3. Check yourself before you wreck yourself
The best defense to external forces is a strong internal offensive. This one’s the hardest but the single most beneficial – by far. Imagine the life you want to live and design it. Make up your mind on financial values, priorities, and a plan for how you want your money to be spent (and saved!).
Then get your heart on the same page. That means working through negative thoughts, beliefs, and emotions around money. Oh yes, we’re going deep to clear out this swamp!
Happy draining.
P.S. If you’re wondering what the other 10% is, it’s becoming financially fit – it’s the ultimate swamp drainer. Waste, corruption, and “stuckness” stand no chance. The next available round of workshops are open for registration.
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