How A Con Man's Advice Can Set You On The Road To Riches

I absolutely love The Princess Bride, the 1987 film which centers on a book being read to a sick little boy by his doting grandfather.

One of the characters in the film is a con man, named Vizzini (deliciously played by Wallace Shawn). When things go awry, and one of his henchmen (Inigo Montoya) has lost his way, there is one crystal clear piece of advice that Vizzini gave to Montoya which saves (or at least, paves the way to save) the day…. “Vizzini! You told me to go back to the beginning... so I have.”

What does this have to do with becoming an awesome wealthy woman?

Everything!!

When you have lost your way…when you don’t know where to turn…when you don’t know what to do…

Go back to the beginning!

Most of us were never taught the ins and outs of handling money when we were young (if you were, congratulations – you are among the fortunate minority!).

When I say ‘go back to the beginning’, I mean simply that you need to start by identifying everything related to your money:

·       ~ How much you earn (gross and net – and know the difference between them)
~ What your expenses are, and, when they are due
~ Identify which of your expenses are “fixed” and which are “variable”
~ How much interest you are paying on any loans, credit cards, lines of credit
~ How much you are paying in monthly bank fees, NSF charges, overdraft charges, etc.
~ What contributions are made by you and/or your employer into a registered pension plan
~ What contributions you are making to a TFSA, RRSP or other investment account
~ How much you are putting into an Emergency Fund each month (and you DO need one of
   these)

      ~ How much cash are you spending, without knowing where it went (hint: ask for
   and keep receipts)

There is no other way to start getting a handle on your money situation than by taking the time to sit down and list all of these items and their related amounts.  It’s simple advice but not always easy to bring yourself to do.

Once you’ve identified every piece of your financial puzzle, you’ll be able to make some decisions about where you need to make changes and where you may need help to get back on track.

It’s a simple process which I call  “I – T – A”   Identify, Track, Adjust.

Don’t be one of the Money Ostriches out there (you know, head in the sand and backside up).  Pull your head out of the sand, write everything down and see where you truly are – right now – in your finances and know that, whatever the picture is (pretty or not-so-pretty), you can start changing it into more of what you want if you start right now.

Go on…get out your pen or pencil, your paperwork and receipts and start writing. The first step is always the hardest but I know you can do it!

“Many folks think they aren't good at earning money, when what they don't know is how to use it.” ~ Frank A. Clark