Money Talk: with Helen Collier

Money coach Helen Collier pictured at home in Menston.
Money coach Helen Collier pictured at home in Menston.
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How much money do you need to have enough?

Answering this question is step two in banishing the words ‘I don’t know where the money goes’ from your vocabulary and starting to practice Conscious Spending. It follows from last week’s column knowing what you value most in your life. Go to the website if you missed it.

Splitting the idea of enough money into three different types of ‘enough’ is worth doing.

There is the Bottom Line. It is having enough to pay for the absolute essentials. These are your needs rather than wants. Think nourishment, warmth, shelter, work and paying off debt. Followed by Enough including things that you like to have, that make your life easier and more enjoyable. Finally meet Plenty where there is more than enough to allow you to follow your dreams and do more of what you want. To work out these figure get out your last three months statements from the bank, credit card companies or wherever else you spend money from and use the following colour to mark which of the categories each item fits in to.

Red: Bottom Line

Yellow: Enough

Green: Plenty

Add up the items marked with the same colour and note them down for next week when this will form the bones of your Conscious Spending Plan.

PIC: Tony Johnson

Brimham Rocks - Putting the Yorkshire landscape squarely in the frame