WHY DON’T YOU know what it costs to be you?

Oct 7

Here's a question I wish more people would ask themselves: What does it actually cost to be YOU?

Not what someone else thinks you should spend. Not what a financial expert says your lifestyle should look like. I'm talking about the actual cost of living YOUR life. Your home. Your vehicles. Insurance. Food. Travel. Children. Debt. Giving. Fun. All of it.

I work with people who make very good money, and one thing continues to surprise me. They can often tell me exactly how much they earn, but they can't tell me what their life actually costs. How can you know whether you're making enough money if you don't know how much your life requires?

And here's something else to think about. Your life doesn't cost the same amount every month. What about those annual insurance premiums? Property taxes? Vacations? Car repairs? Home maintenance? Medical expenses? The expenses you know are coming but somehow still catch you off guard? Those are part of your number, too. Just because an expense doesn't happen every month doesn't mean it isn't part of what your life costs.

Here's where I want to challenge you a little more. Are you living the life you can actually afford, or are you living the life your income makes you THINK you can afford? Those are two very different things. Just because money comes into your bank account doesn't mean it's all available to spend. Some of it already has somewhere else it needs to go. And if you don't know what those obligations are, how can you possibly know what's left?

This isn't about telling you to spend less. In fact, maybe you can afford everything you're doing! Maybe you could actually be doing MORE of the things you love. Maybe you could take that trip, help your children, hire someone to take a few responsibilities off your plate, or finally pursue something you've been putting off. Or maybe your money is supporting things that no longer matter to you. But how would you know if you haven't organized the information?

And let's talk about something else people don't always consider. What does it cost to be you five years from now? Ten years from now? What if you want to work less? Retire earlier? Move somewhere different? Start a business? Help your family? Your financial decisions today are creating the possibilities—or limitations—of your future. Yet so many people are making those decisions without understanding the actual numbers behind their lives.

I have spent more than 30 years raising five children, working in banking, accounting, and business, and helping people solve financial problems. If there's one thing I've learned, it's that no two financial lives look alike. What works for one person or business may make absolutely no sense for another. Your life is unique. Why would you expect a one-size-fits-all financial system to work for you?

That's why I do what I do as a Financial Organizer. I don't believe organizing money should be about restricting your life or following someone else's rules. I believe it should help you understand your money well enough to make decisions about the life you actually want to live. And that starts with knowing what your life really costs.

So here's my challenge for you: Find out what it costs to be YOU. Not an estimate. Not a guess. Your actual number. Look beyond the monthly bills. Look at the annual expenses, the obligations, the things you've committed to, and the things you enjoy. Put the information together where you can actually see it. You may be surprised by what you discover.

Because until you know what your life costs, how can you confidently decide what you want your money to do next?

And if you're thinking, "Teshra, I wouldn't even know where to begin figuring that out," that's exactly where I can help. You don't have to have everything figured out before asking for support. That's the whole point of financial organization.