Planning Tools
Step 1: Know Your Numbers
The first step is knowing what numbers are important to your spending plan. The ‘spending snapshop’ will help you determine what your fixed expenses are each month. ‘Tallying up your totals’ allows you to list any credit cards and other loans you have plus their interest rates and monthly payments so you are in the know of how much you are paying towards your debts.
Get Real
Your Monthly Expenses
Input Your Actual Expenses
You work hard for your cash so let’s find out where you’re spending it! You’ll need to collect your bank statements, credit card statements and all receipts for one month. Keep in mind it’s best not to use January or December as your spending probably isn’t an accurate reflection of your average spending throughout the year. We know it may sound painful, but grab a glass of wine, your papers and commit to knowing your numbers! We’re sure you’ll find hundreds in hidden money you didn’t know you had!
Spending Snapshot(233 KB)
Step 2: My Perfect Day – Adding It Up
Get Inspired
Create Your Perfect Day
Congrats, you know your numbers, now it’s time to take a deep breath and do a little daydreaming. Have you ever dreamed of what your Perfect Day would be like? If you could design a Perfect Day, what would it look like, how would you feel? Get ready to open your eyes and see where your money should really be going!
For this step, close your eyes and imagine it’s a Friday morning a few years from now (we recommend a five year time frame). Now think about exactly how you want to spend that day. And keep in mind that this is a weekday (yes, you still have to work, but consider the type of work you’ll be doing). Use the questions below to help describe your Perfect Day.
Add Up Your Perfect Day
Your Perfect Day is just a dream unless you attach a real number to it. This exercise will turn your Perfect Day into a reality by allowing you to plan exactly how much money you’ll need to live your Perfect Day.
This exercise will turn your Perfect Day into a reality by allowing you to plan exactly how much money you’ll need for all of those fabulous items you’ve listed in your Perfect Day.
Perfect Day and Goals(74 KB)
Perfect Day and Goals(232 KB)
Step 3: Your 12 Month Spending Plan
You know you want to live your richest life, now you need a plan to get you there. The Spending Plan has been designed to allow YOU to personalize each line item. This ensures that your spending and savings reflects your Perfect Day exercise. Click here for instructions on how to create your Spending Plan.
Get Focused
Track Your Money Spending
Your Spending Plan is your personal guide to help your spending stay on track and inline with your Perfect Day.
What’s the best part about the Smart Cookies Spending Plan? It’s YOUR Spending Plan! It is designed to allow you to customize each line item, so that your spending and savings reflect your Perfect Day.
Use the categories below to guide your plan but make sure that your Spending Plan includes the three activities and three items you mentioned in your Perfect Day, and breaks each one down into how much you’ll set aside for them every month.
For Example: If your Perfect Day includes going to yoga, entertaining friends and planning a weekend ski vacation, your Spending Plan will show them as specific line items.
It’s your choice. You can adjust your Spending Plan in whatever area you decide, whenever you like or as your priorities change. It’s all about helping you achieve your dreams!
Connect with a Money Group
You’ve worked hard and are well on your way to taking charge of your money. Now its time to have some fun! What’s better than being in control of your money and attracting more money into your life? Doing it with your friends!
The best way to stay on track is to use your friends to hold you accountable. Use the tools below to find an existing money group in your area, or invite your friends and start your own.
Spending Plan(128 KB)
Spending Plan Instructions(72 KB)
Step 4: The Rather Factor Cards
The Rather Factor card is meant to be used as a tool in case of an emergency…well a shopping emergency! Download this fabulous little tool to put into your wallet. When you feel the temptation to spend more than you should, you’ll be reminded of the things you really do want to spend your money on, and you can call your ‘call in case of emergency’ friend you’ve listed on the card to help you off that spending ledge!
Know Your Rather Factor
Congrats, you are now armed with your Spending Plan but realize its all about maintenance! Use your Spending Snapshot to enter in your actual spending at the end of each month (don’t worry, we’ll remind you). You’ll then be able to compare your actual spending and savings to your plan and adjust accordingly.
The Rather Factor Card will help you with this.
The Rather Factor card is meant to be used as a tool in case of an emergency…well a shopping emergency! Download this fabulous little tool to put into your wallet. When you feel the temptation to spend more than you should, you’ll be reminded of the things you really do want to spend your money on, and you can call your ‘call in case of emergency’ friend you’ve listed on the card to help you off that spending ledge!
In Step 3 you defined items and activities you’d really like to have. You also associated a cost to each item and activity, quantified the cost over a period of time and defined the required monthly savings you need to achieve each goal.
Rather Factor(1036 KB)
Step 5: Starting Your Money Group
Now that you have figured out all of your numbers, now comes the fun part: starting a money group! The Smart Cookies success could not have happened without the support of each other. Here you will find an easy step-by-step method on how to start your money group plus a sample of one of our money group agendas.
