One of the first things people tell you when you are trying to get your financial life in order is to cut expenses. But this also comes with its own set of resistance.
In this article, I will show you an important step you need to take to manifest dinero and how to overcome the resistance that may come up. Keep reading…
Why Reduce Expenses?
Even though we are in the process of manifesting more money, you want to remove the things that are holding you back. You want to shed what is no longer in alignment with the person you want to become. That way, you will have room for the things that actually bring you joy. This brings me to Dinero Dates!
What are Dinero Dates?
I suggest that at least once a year you set up a Dinero Date. That’s right, a date with your dinero. Put it on your calendar at a time when you are most alert. For me, it’s early in the morning when my mind is fresh and before the activities of the day begin to distract me.
What you need to do is create a list of:
- All of your fixed expenses
- All of your variable expenses
Today let’s focus on your fixed expenses—things like internet bills, home payments, subscriptions, car insurance, etc. Mind you, I’m not talking about the things you need to survive (utilities, food, and shelter). I want you to include fun stuff like your Netflix subscription and other random fixed costs that don’t change much every month.
The goal here is to go through the list and determine if you can somehow
- Reduce the cost of an existing service
- Remove it if it’s not in alignment
- Replace it with something more in alignment with your money goals
Let me tell you something, having Dinero Dates are a necessary step in your journey to financial freedom. However, be prepared for some major resistance.
When Resistance Comes Knockin
You may resist making changes to the services you pay for on a monthly basis. How does it come up for you?
This is what resistance may look like:
You’ve been with the same bank account since your college years even though they are charging your monthly interest and you are earning -.00003% on your money(yes, you saw that right. Its a negative number)
You’ve been with the same car insurance company because that’s what your parents had and the nostalgia of being on their insurance is real.
You’ve been with the same internet provider since you started paying your own bills and the thought of looking for a cheaper option stresses you out.
You shop at the same supermarket because your Tia raves about their super ultra organic celery that will align your chanclas in a minute.
You invested in service because your prima works there and you wanted to help her get a sale.
Amiga, this is a money block and it is costing you hundreds or thousands of dollars each year.
Then you create excuses to not make any changes. Things like…
I don’t have the time to look for a new service
I get it, amiga, you’ve got a lot to do. But dig deep if TIME is the only issue here. Oh, you have time to find a better and cheaper option to lower your monthly fixed cost. Keep in mind I am also focusing on BETTER service. Cheaper is not always better. But you can get cheaper AND better things out there.
Closing accounts can hurt my *insert what is hurting here*
You may think that ending a relationship with a service can hurt your credit score or your relationship with certain people. There are strategic ways to do things and each situation is different. But ending a relationship with a company doesn’t have to harm your or their interest.
The Real Reason for the Resistance (Find the RRR)
Our brains are conditioned to stay in the known. The things that you are familiar with make you feel safe because you trust what you already have. You trust the person that you were when you originally signed up for the service – or you trust the person that recommended it to you.
Yeah, these utilities have been in your life forever and they have done you well, but have you explored if they align with the next-level version of you? Now for the good stuff.
This exercise will save you dinero if you get out of your head
Write down all of your fixed expenses
ALL OF THEM. Include the company, the monthly price, and how you feel about them (it’s okay if this line is meh). I recommend you start with the ones you had the longest.
Pick one service a week
Only one because we are dividing this into small chunks – this is another mindset hack: our minds like to over-catastrophize things when they become a whole-ass production. Keep tasks small and manageable. I suggest you pick the company or service you’ve had the longest.
Detach yourself from the expense
Become a dissociated 3rd party and detach yourself from this service. That includes your history with it. I’m not saying forget about it. But imagine yourself looking at your friend’s expenses and imagine them telling you their experiences with the service. Doing this will remove emotional ties and will allow you to make decisions in an objective way.
Mentally solidify what you want
Imagine what you want to get out of this service. Do you want faster internet? Do you want to pay less? Do you want something more reliable? Here is where you begin to embody your next-level self. The version of you who has it all, what would they want you to do right now in this phase of your life?
Explore your options
Set aside 30 minutes a few times a week to research and compare with competitors. Look at reviews and price points.
If you find a better service, make the switch. *This may lead to major resistance*
How to overcome resistance
This is where the resistance might show up
Take a deep breath and imagine the following mantra “I detach from xyz service. You served me well once but I am ready for something better. I thank zyx person/myself for suggesting I keep it until I’m ready to move on, the time is now, and I’m excited for what’s next”
Begin to list the benefits of the new service you are switching to. Get excited about it! Think of all the extra money you’ll have in your pocket. Think of how much more convenient the new service will be and how you’ll have more peace of mind.
Think of this change as an upgrade.
BONUS TIP:
The next part will depend on the person but once I’ve made up my mind, I would set up the new service before I cancel the other one. I do this all on the same day. This will help me to avoid changing my mind.
Be ready for your old service to come up with cheaper and better options in order for you to stay with them. (if you love the company, speak with them first before officially making the change)
Final Thoughts
Changing from the familiar to something new may lead to some resistance and that’s normal. The trick here is to focus more on where you are going and if it’s in alignment with where you want to be rather than focusing on what you are leaving behind.
If you are struggling to get your dinero right now, I invite you to book a 30-minute discovery call to see how we can transform your money! Click on this link to schedule a call.
Cheers to abundance!