Written by: Henrik Pettersson, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
When the first stock exchange was founded in the Belgian city of Antwerp in 1460, a Flemish name 'bourse' was given. This means 'purse,' which is also behind the concept of budget.
In the 1630s, the popular flower that was originally called 'Dulban' or 'Turban' on Turkish came from the Middle East. It thrived so well in the wet climate of Holland, and Tulip Bulbs rose rapidly in price. You could make a nice profit when you sold them.
The demand rose as well as the prices. After a couple of years, even the simpler bulbs had tripled in price.
People sold everything they had to make a great deal. The fever reached its peak at the turn of the year 1636/37, when a single onion of the class "Vice King" was sold for 2 loads of wheat, 4 loads of rye, 4 oxen, 8 pigs, 12 sheep, 80 liters of wine and a silver goblet.
February 1637, the bubble burst; crowds of people were ruined, and Holland was dragged into deep economic depression.
The budget was not in balance, and it contained too many minuses and too few pluses.
Just like your mental budget, if you have too many expenses and too little income - you get into an imbalance.
Every time you let the weaknesses overcome the strengths, the excuses defeat action, and the bitterness take over - you make withdrawals from your mental account.
In the end, you are mentally bankrupt.
However, when you solve problems, overcome difficulties and turn adversity into success - you make deposits in your mental account.
Your mental budget
It is a revision of mental resources that flow in - and flow out over time.
Like the company's or household's cash flow, it is important to gain control over the flow of energy and resources.
Since expenses depend on revenue, budget the revenue side first.
The total mental budget consists of items regarding your leisure time and family life. And is an excellent tool for maximizing your capacity and balancing your resources.
Here are some mental barriers to overcome, thoughts, and techniques that will help along the way:
1. You don’t want to put more pressure on yourself.
Mental budgeting is not about spending as little energy as possible. The aim is to achieve better balance.
2. You're fine as at is.
Great, however, we know that both situations and attitudes change over time, that you have the capacity and potential to rise to new levels.
3. You do not have sufficient discipline.
Find a level where you can hold the line. If you just find the pace, the balance will be as ordered.
4. You do not see the whole picture.
The purpose of mental budgeting is to prevent you from spending more energy than you have while giving yourself space to develop your strengths and come to terms with the weaknesses.
Invest in yourself, and your mental budget will push you toward your goals.
5. You do not have the support you need.
Find a like-minded person, friend, or colleague who thinks the same way. Talk about the income and the replenishments to the account.
6.Keep a journal of your mental budget.
It is difficult to say how much power you need at different stages, so evaluate your situation regularly.
Evaluate every week. It gives you a picture of your development. Then your development, as well as your situation - will improve.
7. Prioritize.
Carefully review activities that require significant withdrawals from your energy depots.
Prioritize tough. Set necessary against nice. Revenue against expenses. Developing towards maintaining. And so on.
8. Eliminate unnecessary expenses.
Once you have a clear idea of energy consumption, cut back on activities you can refrain from. For example, the intake of junk food, alcohol, sugar, and excuses to avoid doing the things you should. You can’t do everything at once, but you may be able to customize them step by step.
9. Look for new sources of income.
Ways to replenish the energy account. Train a little more, train differently or train less. Book mental space for yourself or together with a like-minded person. Take hold of your diet and get routines and a clear gameplan.
10. When your mental budget has been on plus in a week or two, reward yourself.
In summary:
1. To manage your mental budget in the long term, block time for unforeseen events, replenish energy stores, and make sure not to run empty.
2. Control over how much you replenish and withdraw means that you know where your energy is going and gain better control and balance.
3. Your mental budget is not a prison that prevents you from doing fun things but a tool that secures the future for yourself and your loved ones.
Control over your mental budget increases your power, determination, and ability to take action and deliver strong results. It's that simple.
Therefore, download "Your mental budget" on my website (strongresults.se/mentalbudget) and start a new, successful, and better-balanced life.
But if you want to test immediately, tick the indicator below.
Mental Budget (MB) for Stronger Results
The tool for identifying the parts that build mental strength while finding out about your current situation and potential for improvement. For each area, add your self-assessment score (five levels). We find the balance in the middle, the Credit page (-) on the left, and the Debit page (+) on the right.
It will give you a score based on balance on the plus (green) or minus side (red). Regardless of your score, try to improve yourself in the following areas, all of which have a significant impact on future success. And the delivery of strong results.
As I experience and feel today, I evaluate myself on the following parts, on a scale:
Exercise (including walking)
How many times a week do you usually do any type of physical activity?
Rate between: 0 times/week- minus 2. 4 times/week or more plus 2?
Score
2---------------------- 1---------------------- 0---------------------- 1---------------------- 2
- +
Sleep
How many hours per night do you sleep on average during a week?
Rate between: 0-4 h/nigh - minus 2. 8h and more plus 2?
Score
2---------------------- 1---------------------- 0---------------------- 1---------------------- 2
- +
Diet
To what extent do you plan your diet?
Rate between: Well = plus 2. No plan = minus 2
Score
2---------------------- 1---------------------- 0---------------------- 1---------------------- 2
- +
People
To what extent do you associate with people who lift you versus pull you down?
Not at all, minus 2. From time to time 0. Very often plus 2?
Score
2---------------------- 1---------------------- 0---------------------- 1---------------------- 2
- +
Competence – See/listen/read
To what extent do you invest competence in yourself on average per day?
Rate from: 0h/day –2. 1h/day or more = plus 2
Score
2---------------------- 1---------------------- 0---------------------- 1---------------------- 2
- +
Relationship
To what extent do you feel that you give your closest relationship appreciation?
Rate from: Extremely seldom –2. every day = plus 2
Score
2---------------------- 1---------------------- 0---------------------- 1---------------------- 2
- +
Action/Procrastrination
To what extent do you find yourself action-oriented versus postponing things until later?
Rate from: low minus 2. High action orientation plus 2?
Score
2---------------------- 1---------------------- 0---------------------- 1---------------------- 2
- +
Total:
Henrik Pettersson, Executive Contributor Brainz Magazine
Since 2004, Henrik has been working as a coach, educator, and motivational speaker around Europe. Life is about growth. The challenge to growth is to gain boldness to handle our fears and vulnerability. To strengthen your spine - to be able to manage your challenges towards stronger results. Life’s tough at times, and the formula for gaining more boldness, and dig deep into, is: Faith – Energy – Focus. His new book is built on the three pillars above and is called: program yourself to success. Henrik is frequently hired by large companies like Volvo, H&M, and Avis.
