Does Your Money Management Plan Include an Investment in Your Career?

Many years ago a mentor of mine challenged me to a very intriguing method of money management. And I’ve since shared this strategy with scores of sales leaders that I coach and consult for. Today, I share it with you.

I call it my “75-10-10-5 Plan,” and I’ve been following it for years.

Here’s how it works:

1. Each month I plan my budget so that I can live off of 75% of my take home pay. That means I need to budget for taxes, housing, food, transportation and all the other expenses of life.

2. Next I designate for savings and investments. This is critical, first for the inevitable rainy days but also for retirement planning and general wealth building. I don’t need to be a bajillionaire, but I would like to be financially independent.

3. The next 10% I give away. That money goes to my church, to charities, to ministries, and to people in need. No matter how tight the money gets, this is a complete non-negotiable for me.

4. That leaves 5%, which I invest in my own growth and development. I have three coaches that I work with – an entrepreneurial coach, a speaking coach, and a business coach. I also attend several conferences for the purpose of being fed. I spend well over five figures on self-development each year. Note that I called this an investment. I like that; it implies an expected return!

That plan has worked wonders for me for years, and I have no intention of stopping now.

I am NOT going to be that person who sits around waiting for life to get handed to me on a platter.

Daily, I follow the advice of the theologian Martin Luther: “Pray like it all depends on God; then work like it all depends on you.”

It’s that last category – self-development – that gets ignored most regularly.

Every financial planner tells you to invest, and it’s in our hearts to want to help others by giving. But investing in yourself takes two things: intentionality and faith.

You must have a plan in mind and you must believe that the investment will pay off.

When I look back at my own career trajectory, I am convinced that this approach really works!

For almost ten years now, Sales Leaders across North America have made a modest investment in their own careers by attending my annual Sales Leadership Summit.

This year, Level Up 2015 could be the turning point for YOU.

It’s an incredible opportunity to step above the day-to-day and consider new ways of thinking – about your career, about your sales team, about your customer, and about your life.

If you want to transform your future in two days, this is it. You will leave Level Up 2015 with a personalized, step-by-step action plan that will take your team and career to the next level.

I hope that you will invest in your own personal growth and join us in Chicago on September 10-11 as we take a journey into the future – your future – to define what excellence and success look like when you take your sales culture to the next level.