WEBVTT - Pay yourself a commission

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<v Speaker 1>Welcome to Before Breakfast, a production of I Heart Radio.

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<v Speaker 1>Good Morning, This is Laura. Welcome to the Before Breakfast podcast.

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<v Speaker 1>Today's tip is about how to motivate yourself to invest

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<v Speaker 1>time in tedious tasks that will save you money. Pay

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<v Speaker 1>yourself a commission, a little fun money can make the

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<v Speaker 1>whole experience more pleasant. Long time listeners may recall that

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<v Speaker 1>several months ago I was dreading organizing and tallying my

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<v Speaker 1>business expenses for my income taxes. Then I realized that

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<v Speaker 1>I didn't actually have to do it. I could pay

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<v Speaker 1>income taxes based on my gross income without deducting anything.

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<v Speaker 1>From that perspective, any expenses I documented would reduce my

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<v Speaker 1>taxable income and thus my tax spill. Now that sounded attractive.

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<v Speaker 1>A few hours of tedious clerical work would save me

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<v Speaker 1>literally thousands of dollars. That was an amazing hourly rate,

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<v Speaker 1>and I was in. By reframing the annoying task as optional,

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<v Speaker 1>but as something that would earn me a lot of money,

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<v Speaker 1>I made the task more attractive. That mindset can help,

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<v Speaker 1>but it's not the only way to motivate yourself to

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<v Speaker 1>do something not fun that will save you money over

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<v Speaker 1>the long term. You can also pay yourself a commission

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<v Speaker 1>from your savings and do something fun with that. I

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<v Speaker 1>am guessing that you, like many of us, may have

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<v Speaker 1>several unappealing money saving tasks on your mind or to

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<v Speaker 1>do list right now. Canceling the streaming service you no

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<v Speaker 1>longer use, getting on a cheaper internet plan now that

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<v Speaker 1>your discounted introductory rate has expired, finding a bet our

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<v Speaker 1>car insurance rate. For most people, tasks like these are

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<v Speaker 1>annoying at best and arduous or stressful at worst. We

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<v Speaker 1>know we probably should do them, but we really don't

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<v Speaker 1>want to. One way to make them more attractive is

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<v Speaker 1>to give yourself a commission from the savings. Perhaps one

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<v Speaker 1>month of what you'll save on an annual expense go

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<v Speaker 1>straight into your pocket to spend however you want. Save

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<v Speaker 1>six dollars per year on your combined insurance fifty is

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<v Speaker 1>just for you. Save fifteen dollars per month on a

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<v Speaker 1>streaming service. Take the first month's savings and buy yourself

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<v Speaker 1>a book. Paying two d less per month on interest

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<v Speaker 1>on your mortgage thanks to your refinancing, Enjoy two massages

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<v Speaker 1>on the house. When you give yourself a commission, you

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<v Speaker 1>harvest most of the savings well, paying yourself a bit

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<v Speaker 1>to make the work feel worth your while. If finding

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<v Speaker 1>savings on recurring expenses sounds promising to you, you could

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<v Speaker 1>even set aside a weekday morning once a year or

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<v Speaker 1>so for blitzing through lots of these money saving tasks.

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<v Speaker 1>Consider reviewing all your recurring household expenses, car insurance, cell phones,

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<v Speaker 1>gym memberships, newspaper subscriptions, and so forth, and identify any

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<v Speaker 1>opportunities for savings. Anything you could cancel, anything you can

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<v Speaker 1>seek better rates on. Claim most of the savings for

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<v Speaker 1>your household budget, but give yourself a commission to make

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<v Speaker 1>the process feel more like a want to do and

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<v Speaker 1>less like a have to do. You'll end up spending

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<v Speaker 1>less each month, while also getting back some free money

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<v Speaker 1>to have fun with. So pay yourself that commission. You

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<v Speaker 1>will still come out ahead in the meantime. This is Laura.

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<v Speaker 1>Thanks for listening, and here's to making the most of

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<v Speaker 1>our attack. Hey everybody, I'd love to hear from you.

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<v Speaker 1>You can send me your tips, your questions, or anything else.

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<v Speaker 1>Just connect with me on Twitter, Facebook, and Instagram at

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<v Speaker 1>before Breakfast pod that's b E the number four, then

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<v Speaker 1>Breakfast p O D. You can also shoot me an

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<v Speaker 1>email at Before Breakfast podcast at i heeart media dot

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<v Speaker 1>com that Before Breakfast is spelled out with all the letters.

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<v Speaker 1>Thanks so much. I look forward to staying in touch.

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<v Speaker 1>Before Breakfast is a production of I Heart Radio. For

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