Protecting Yourself From Yourself

As much as we try, we humans are experts in the art of self-sabotage. Sometimes, we're oblivious to it, while other times, we know exactly what we do. Yet, we can't help but sabotage our own well-being. 

  • Hitting the snooze button instead of going to the gym.

  • Showing up to work late.

  • Sneaking that tasty little snack right before bed.

  • Insert countless financial versions here!

As I often tell my clients, we must protect ourselves from ourselves. It's not because we're weak, but rather because we are smart. Well, maybe we are weak......which means we need to be smart!

An example of this popped up with a client this week. This particular client struggles to keep their grocery spending in check. Sound familiar? They budget a reasonable number, have clarity on how much they are spending as the month wears on, and desperately want to stay within budget. Yet, they fail. Every. Single. Month. 

In our most recent meeting, I told them they desperately need to protect themselves from themselves. I can relate to this exact issue! We love food. If left to our own devices, my family would spend every cent on food. We can't do that, though. Sticking to the plan is a non-negotiable. 

Here's the idea I put on the table for this couple. They should open a CashApp account, which is an app that acts like its own little bank account. It connects directly to your personal bank account, so you can add or subtract money anytime. It also provides you with a debit card. Once set up, this would be their grocery account. Here's why this can be a powerful tool to protect themselves from themselves:

  • You must intentionally load it with whatever dollar amount you choose. Therefore, once you budget for $x for groceries, you will deposit the money with just a few clicks. 

  • Once the money is living in CashApp, you can see an up-to-the-minute balance. If you swipe your debit card in the store, the balance adjusts within 10 seconds. You always have 100% clarity. 

  • It doesn't allow you to overdraft. If you have $44 in your CashApp and you try to purchase $44.01 worth of merchandise, it declines you. There's no way to overspend. 

  • When the money is gone, it's gone. This is a powerful lesson. No, your family won't die. Rather, it forces you to get creative and dive a bit deeper into the pantry and freezer. We've had several "interesting" months in our house. Something powerful happens when we commit to the plan. 

  • Having only one transaction for groceries (the original deposit each month) eliminates the need to continually track these expenses. It's all housed in the app with a pretty little bow. 

It sounds simple....because it is. And it can change everything! Despite groceries being one of our most challenging categories, we haven't overspent in nearly a decade. There's just one reason for this: we protect ourselves from ourselves. 

What do you need to protect yourself from yourself from? 

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