Let’s talk 2021, money and……..YOU!
Have you set your money goals for this year?
Think of it this way, when you set out on a journey in the car that may not be familiar, you set the GPS for the destination.
And we can take this approach when it comes to setting your money goals – you set your destination points at the start of the journey.
A very simple, yet impactful, approach is to have three simple money goals.
It might be something you think is actually too simple to put pen to paper about, but the beauty is in the simplicity itself.
Here are three major areas to set goals around that can really transform your relationship with money.
- Savings Goal
If you don’t have one already, set up a savings account.
Setting this up is a great way of taking action and showing the Universe you are ready for more money to show up.
There can be a lot of resistance around having “excess” money for women. It can be a bit of an uncomfortable topic to talk about for some.
If you are fairly new on your journey of self development and money, you might be finding that you spend every penny that comes in, or don’t feel comfortable having “spare” money and burn through it.
Some women don’t feel safe having a buffer, a bit of a cushion when it comes to cash.
Or having more than they “need”, so burn through what they have.
A familiar pattern for many can be feeling broke at the end of the month….or even the beginning!
A perpetual cycle of feeling broke!
And this doesn’t necessarily apply to those who “have” money.
If you aren’t comfortable having a buffer, you will get through money no matter what your level of income.
And this situation can be very telling.
It can be reflective of the money stories that were happening when you grew up.
It might have been that there was always that feeling of having “just enough”.
Or feast or famine.
Or always feeling like there would never be enough for any “extras”, so you didn’t bother asking.
These money stories, stories you grew up with, can “normalise” money stress and this eternal feeling of never having enough, or even not being WORTHY of having enough.
But as an adult, you can GIVE YOURSELF PERMISSION to have more than you need.
Give yourself permission to allow yourself to have more than you need.
And where you feel any resistance, is a clue as to where it would serve you to begin to peel away those layers through money mindset coaching, which happens to be my passion!
Women often have a complex relationship with money.
If you are a mum, you are used to making sure everyone else is looked after before you, and this includes financially.
And you often make sacrifices along the way – in terms of time, career, finances and so it goes on.
You heard from a young age it is greedy to have more than you need.
To want more.
To have more than others.
To be seen as having more than others.
So you learn to play small and this shows up in your behaviour around money.
Or if you have more, you should give it away, as others need it more than you.
How much of this rings true for you?
How many times in business have you told yourself if you cover your costs, that’s okay?
Or if you do make more money, you find some way of spending it?
Self sabotage is so intertwined with women and money.
Have you found yourself spending just because you can and lo and behold, funnily enough, you don’t have any money left and are back in that familiar space of feeling broke?
You got rid of the money as it was uncomfortable to have around you – having more than you need.
A positive action step you can take, starting today, to get you started on your journey of getting comfortable with money is to set up a weekly direct debit. It doesn’t have to be a huge amount, say £5 or $5 and stick with it. Ringfence it and let it build up.
And the reason I say weekly is because you can see the money build up, bit by bit.#
And for those of you who do already save, up your amount, make it a weekly amount, even if it has been monthly so far.
And let it roll!
- Debt-Free Goal
Debt is another area where you can go crazy with self sabotage!
It keeps you trapped, stuck in job that drains the life out of you, or working with clients you’d really rather not!
Now, debt is really socially acceptable.
College debt, student debt, credit card debt and so it goes on.
I’m not saying having debt is bad, but it’s how you deal with it that really impacts you and your mental wellbeing.
Having debt might be part of your money story that has been keeping you stuck – an excuse not to move forward in your life, in some areas.
Making a decision to get out of debt can also bring up old money stories too.
It is a courageous step to make to take the bull by the horns and work on clearing your debt and following through on the intention and making a plan and sticking to it.
And the reward comes when you experience the sense of liberation when you start to see the debt reducing and eventually clearing it.
Part of my work covers non-scary(!) debt payment plans, so book in a complimentary chat with me to find out more.
Paying off debt is a mindset shift and maintaining a debt-free life takes commitment and maintenance, all of which are doable, but it does take action, it doesn’t magically happen on its own. And that is something I can help you work on too.
The first step when it comes to clearing debt is to be really honest with yourself.
Total up the entire actual debt, get a clear repayment plan in place and get started.
There is so much more I can tell you about this, so if you do want to find out more, book in a chat with me, and I can fill you in.
But for now, get new weekly additional regular payment amount going towards that debt, again, it can be a smaller amount, £5 or $5, it’s getting started that counts and staying committed.
- Step Three: Set an income
In view of the economic turbulence that 2020 brought, it is clear that it is certainly more than useful to have more than one income stream.
Take a look at your skillset and see where you could create a new product or course that generates an income, this is your passive income and set a goal for this.
Be clear and set the intention on what you want for your total income goal and how much of this will be your passive income goal.
You will probably find you have resistance around this. These will be old money stories that been an active part of keeping you where you are.
But to get to where you want to be, what got you here, won’t get you there – to your new income goals.
And it doesn’t mean working all hours under the sun – quite the opposite. See how easy you can make it and how playful can you make it? Making money doesn’t have to be boring!
And it doesn’t have to be such a long list that you don’t even get started on it.
Keep it simple.
But get it started.
Imperfect action is better than no action.
And it’s not all about size! It can be a small digital product, but the volume sells it. A small digital product is a great way for new customers to enter your world and get a taste of your work, at a low investment.
You could re-purpose or repackage what you have already written, or restructure some of you work into different modules, courses etc.
Keep it simple and you don’t need to have the latest shiny platform to sell it from.
Get started, put it in your diary. As they say, “What gets scheduled, get’s done.”
And track it. You can test out what works, what doesn’t and tweak along the way. It’s entirely up to you.
The main point is that you get started, today.
And once you start building up an income from this product/course etc, you can put money into your savings and into towards paying down your debts.
So here you have three very simple and easy to apply steps to get 2021 working for you when it comes to your income.
No more playing small – make 2021 work for you, today!
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