Debt Spending Control

Can you reduce debt and improve your spending habits with some self control?

You’re probably asking yourself, what does a trainer know about debt and spending control? Well, not much. Only personal finances and how I control what I do. But as far as you are concerned, I do know how money affects the athlete.

The circle of balance has three components. The mental, the physical, and the financial. And one will always affect the other.

When talking about debt and spending control, I always recommend that athletes sit with their personal financing advisors, devise plan on what you have now and your earning potential in the future.

Doing this on a regular basis will keep your lifestyle in control by not creating unnecessary debt and learning to spend wisely and strategically not creating financial roles, which would lead to unnecessary stress that can disturb your circle of balance.

To improve your score on this factor, here are some key steps you can take to make progress in this area:

1. Do not spend more that you make. Do not spend with future earnings in mind.
2. Just like you are on a budget so are your family members. Don’t just give them money give them responsibilities that warrants them earning that money. You are the business they are
   part of that business. They are not only family they are employees.
3. Just like any corporation when you or your employees do well they are given bonuses. That’s when you should splurge and treat yourself.