The following is an excerpt of David’s interview in Top Coaching Techniques.

Ingrid: Are you saying finances could be a source of joy?

David: Absolutely. The first step you need to find out is, how much is going in or out each month.

Ingrid: That sounds like a budget.

David: It sort of is. You need to find out how much is going in and out. If more is coming in than going out, you are going to be feeling good. You’ll know you are going in the right directions. It makes an amazing difference.

Ingrid: Making that first step can be sort of like going to the dentist when you haven’t gone in thirteen years. You don’t know what to expect. You don’t know how much you are spending and you don’t want to know.

David: Right. You don’t want to look at it. Don’t do a budget first. As a great first step, decide why you are saving. You need to know what you are saving for. You aren’t going to want the pain when you don’t know the gain. Pick something – it could be a five year or ten year target – a vacation, to be financially independent, feeling good with twenty grand in the bank should you ever need it.