Doodads' Project

A game that is played at Peak Potentials' seminars is one where all students identify themselves with one of four groups, depending on their attitude towards money, either as Hoarders, Spenders, Avoiders or Monks.

Some people take the approach that it's not about spending less, it's about making more. There is a strong tension between the two.

When there isn't enough money to spend on a toy, or as Robert Kiyosaki calls it, a doodad, many people feel guilty that they aren't making enough and wish they could afford more things or pay down more debt.

Here's a doodad solution.

For every dollar you spend on a doodad, you must come up with 2 more dollars to pay off some of the remaining debt.

This accomplishes many things.

First of all, it makes people be more intentional about the doodads  they choose to buy. Is it worth 3x the purchase price? If not, don't buy it. If yes, the person tends to value it even more.

Second, because you still may like doodads, it forces you to pay off the debt sooner. 

Third, celebration replaces guilt. In a way, a doodad is a reward for paying off the debt and a lower debt is the consequence of making a decision to get a doodad.

If you have been feeling guilty about spending money on something when you know you should have been spending your money on something more important, then apply this approach. For every dollar that you spend on something you really want, allocate 2 extra dollars to go towards something you think you should be spending on. 

You will kill a whole flock of birds with one stone!