Show Me The Money

The Invisible Drain on Your Future Fortune

In my 15+ years analyzing thousands of financial situations (first as a banker, then as a mortgage broker), I've noticed something fascinating: There's almost NO correlation between income level and financial awareness….

I've seen people making $50,000 who could tell you where every dollar goes... And people making $500,000 who had absolutely no idea.

Here's the wild part: The people who tracked their money? They were almost always the people who had the financial foundation to seize business opportunities - whether through bank approval or their own saved capital.

Why? Because they found money others couldn't see…

Think about it: We're living in a world of invisible spending:

• Tap-and-go payments

• Subscription services that quietly renew

• Buy-now-pay-later plans

• Credit card rewards that encourage spending

• Auto-payments we've forgotten about

It's like trying to navigate with your eyes closed. And you can't build a business flying blind…

The Hidden Cost of Convenience

Let's talk about something that's creating a massive blind spot in people’s spending: credit cards and revolving credit facilities.

Now, I'm not here to demonize credit cards - they can be fantastic tools when used strategically.

Those travel points and cashback rewards? They're genuine benefits….

But here's what I've seen happen thousands of times in my career: People switch to credit cards for the rewards or cash back, and something subtle but significant changes in their spending behavior.

Without the immediate "pain" of money leaving your account, spending becomes almost invisible. Add in the convenience of tap-and-go payments, and before you know it, you're halfway through your credit limit without a clear picture of where that money went.

It gets even trickier with revolving credit facilities. These flexible lending arrangements can seem like a safety net (and there is even a strategic way to use them) - but more often than not they become a permanent part of your monthly spending. You might be paying interest on last month's groceries while this month's expenses are piling up on top.

The real danger? The disconnect between your actual income and your spending grows wider and wider. I've seen many high-income professionals who thought they were "doing fine" discover they were spending 30% more than their monthly income - all hidden in the convenience of credit.

The Math That Changed Everything

Here's an actual calculation exercise I did with one of my old clients when they were trying to tidy up their finances to get approved for a home loan - the total we came up with even shocked me:

• Daily coffee run: $5 × 260 work days = $1,300/year

• Lunch out: $15 × 260 work days = $3,900/year

• Unused gym membership: $75 × 12 months = $900/year

• Extra streaming services: $45 × 12 months = $540/year

• Shopped around & combined family’s car insurance: $42 ×12 = $500/year

• Shopped around for family’s life and health insurance: $59 × 12 = $700/year

Total "invisible" spending: $7,840/year! If you think about it in terms of business funding, that's a lot of extra money towards things like:

• Advertising budget

• Funding your first product run

• Down payment on a business purchase

• Business coaching / mentoring

• Digital platform subscriptions for the year

Your Money X-Ray: A 4-Step Process

This week, I'm challenging you to do something that might feel uncomfortable, but could completely change your financial future. Here's how:

• Gather Your Statements

  • Last 3-6 months of bank statements

  • Credit card statements

  • Buy-now-pay-later accounts

  • Subscription lists

• Analyze Everything - review the last 3-6 months of transactions and categorize them:

• Are there expenses you can reduce or eliminate?

• While you of course need to cover necessities like shelter and food - you might find savings by shopping around for better deals on phone, internet, or insurance.

• You may be able to cut back on entertainment expenses - coffees, dining out, drinks, travel, etc.

• Track Everything - I'm giving you two powerful tools to make this easy:

  • If you like to do things manually - I have a simple monthly budget spreadsheet I’ll send you for free (I can’t attach excel format spreadsheets in this platform sorry - so just shoot me a quick email and I’ll send it through!)

  • Or what I do is track all my spending with a budgeting app on my phone to save time, and to keep it top of mind - the best one I found is Pocket Smith - use my link here and you can get 50% off for 2 months, (or they have a free plan too)

• Ask the Power Questions - For each expense, ask:

  • "Is this moving me closer to or further from my owner goals?"

  • "What's the yearly cost of this small daily/weekly/monthly expense?"

  • "Could this money be used to build my dream instead?"

Real talk: This Isn’t About Deprivation….

I'm not suggesting you need to live on rice and beans or never enjoy a latte again. This is about awareness and choices. It's about understanding that every dollar is a building block for your future - you just need to decide what you're building.

Remember: Owners think differently about money. They see opportunities where others see expenses.

It’s all about short term ‘sacrifices’ (or as we like to call them, opportunities!) for long term gain - because the truth is, once you build that successful business you shouldn’t have to be concerned as much about the extra lunch, coffee, or getting new ‘toys’ to enjoy in your free time 🏖️

This Week's Money Moves to Start 2025 Off Right:

1. Send me an email for your free manual money tracker spreadsheet OR Get started with Pocket Smith at 50% off / or their free plan.

2. Schedule 1-2 hours this weekend for your Money X-Ray session

3. Share your biggest discovery with me - what surprised you most?? (you can leave your feedback via the poll below 😊)

_{Partner Disclosure: some of my links may contain affiliate links, which means if you click on them and make a purchase I may receive a small commission at no extra cost to you. This helps support my work and allows me to continue providing valuable content to you at no charge. Thanks for your support!}