Tax time is a confronting time of the year for a lot of people who do their sums, realise what they earnt for the year and then wonder how on Earth they spent all that money? Ever wondered where all of your money actually went?
Well don’t beat yourself up too much, it appears this same trend has been happening for over one hundred years. As Will Rogers put it in the late 1800s “Too many people spend money they earned, to buy things they don’t want to, to impress people that they don’t like.”
And while ol’ Will might have been on to something way back then, it appears it’s almost human nature to want to consume and spend.
Founder of JDL Strategies, Julio De Laffite, has coined a term for the money people waste without realising it. He’s called it the ‘burn factor’.
“The burn factor came about because people always wanted to know where their financial inefficiencies were. We found that most families were, on average, wasting or burning around six hundred dollars per week through inefficiencies and not having a strategy in place to minimise their tax and then drive down debt,” he says.
“I call it the burn factor, because they are essentially burning this money each and every week. This money can be the difference between finding financial freedom and never reaching it.”
The old adage ‘it’s not what you earn, it’s what you spend’ couldn’t be more true when it comes to getting your finances in order.
Have you ever wondered what your ‘burn factor’ is? Discovering what you are burning each and every week is just the first step to better wealth.
If you are ready to find your financial inefficiencies then come along to the half-day Fast Track event near you. Or, take advantage of JDL Strategies 2-hour event and learn how to get a strategy for financial freedom so you can stop burning, and start making your money work for you.