When you lose sight of how much you spend, it is really easy for small things to add up and get out of control, keeping you stuck in that feeling that you’re “Just bad with money.”
Get back on top of your money by increasing the visibility of your expenses!
Let’s look at how it works…
Tracking Allows You to Identify the Problem and Manage It
When you pay attention to what you spend and you keep those numbers visible in the front of your mind, then you can actually take practical action to manage your money game.
In the Money Mindset Bootcamp that I run, one of the big things that we do is to look at your money in real terms. We gather the data of your income and spending habits, and from there we set what your budget is.
The first step is to review your bank statements and bills and do the math to get an idea of roughly what it is that you spend and where. (Some people don’t even realize they spend...
Money blocks are self-limiting beliefs around your income and income goals. What you may not realize, however, is that simply making more money does not clear your money blocks. And until you do clear your money blocks, your money problems may only get worse.
More Money, More Problems
There's a common misconception out there that making money can solve all of your problems. As I’ve learned from my own experience, and see all the time in the lives of our clients here at Money Mindset Accelerator, money problems don’t go away until money blocks are cleared.
As you make more money and you become more successful, everything that you do gets magnified. If you haven't dealt with your money blocks, they’ll get magnified too, and you'll find even bigger ways to lose money and get yourself into financial trouble.
For example, no matter how much you earn, you can always spend more. And if you have fear, anxiety, panic or guilt around money,...
I’ve heard it said before that comprehension starts and ends at the point of articulation. That is, how we talk about what we experience, the language we use to describe it, shapes our understanding of that experience.
Quite often when people feel “stuck,” it’s for a lack of words to explain what's going on. We simply just experience something, but we can't really explain why we're stuck, and for that reason, we can’t understand it, and for that reason, we can’t get out of it.
While true in all areas of life, today we’re looking at how working with a money vocabulary can help you improve your life financially.
Specifically, we’re looking at money blocks.
What Are Money Blocks?
Money blocks are self-limiting beliefs around money. They affect people in three main ways:
1. Money Creation Money Blocks
People with money blocks centered on money creation struggle to create money and create wealth. These...
Building a business is a bit like building a house. You're going to have much longer lasting success and a much stronger house if you lay solid foundations to begin with. A powerful, positive mindset helps build a strong foundation in your business. There are three core elements that you need to succeed as an entrepreneur in business.
1. A powerful and positive mindset: This relates to having the right kind of energy, clarity and focus in your business.
2. Strategy: Embarking on a business and succeeding requires you to have really clear goals. You need to have clarity on what your goals are and specifically, your key success metrics.
If your goal is to hit seven figures this year from a service-based business, you’ll want to break down the following metrics:
When I reflect back on my life, I think it's fair to say I’ve achieved a good amount of success, however the truth is, I was never really as successful as I wanted to be. Or to be more accurate, it didn’t happen in the way I wanted it to.
During my teens and twenties, I had very low self-esteem even though I appeared to be confident (probably because I did a lot of public speaking and sang in bands). My successes felt like a fluke because I didn't believe in myself and I just sort of pushed myself to achieve certain things.
During my 30s, I was rapidly climbing the corporate ladder, but the stress of the job was killing me. I knew I didn’t want to do accounting forever - and that is when I drew on my passion around personal development and started a life coaching certification.
Life coaching teaches you a systematic way to achieve your goals alongside working on things like your self-limiting beliefs. I used it to get promoted in my own career and I started to...
One of the quirky things that I always wanted when I was a child was a waterbed. As soon as I bought my first home, I got myself a waterbed and I've had it ever since. Waterbeds are built with very strong, solid foundations so they can last you a lifetime if you look after them.
Just like a waterbed, you've got to have really solid foundations in your personal life to be able to succeed in building an authentic business. If you don't clean up the rubbish in your personal life, then you're going to bring that energy directly across into your business.
Two areas that entrepreneurs in particular need to address when trying to succeed in business are:
1. Making sure that you deal with your personal baggage. If you’re still harboring resentment or anger towards others and if you can’t move on from memories of past events, then it’s going to affect your ability to focus on what’s happening for you now. You're going to feel like your focus gets broken where...
Have you ever thought about how your early money memories might impact your life? I'm specifically referring to an early interaction with money that left a big impression on you. If you're not sure what I mean or why it matters, what I'm describing here is a process where the interactions you have with money when you're really young, form part of what's called your earliest money paradigm.
This paradigm shapes everything about your interaction with the world around money and these ideas get solidified when we're really young. So I'd like you to try and go back, and see if you can remember your earliest interaction with money because these events can have a huge impact on your life. When these money interactions go unchallenged, especially if you've had a negative interaction with money, then they start to form part of your money paradigm. This means you carry beliefs about money that show up in your money patterns as you're growing up and...
We’re continuing with our Types of Money series, and today is all about debt.
Why is debt such an important component of your relationship with money?
Talking about debt is actually one of my favourite topics because I love helping people break free from the crippling feeling of being in debt.
If you do have some debt, touching on this topic might make you feel a little bit uncomfortable. If it does, it just means it's triggering something within you.
Debt can be this deep dark secret you feel you've got to keep from the world. Like a dark cloud that hangs over you all the time and no matter what you do, you are constantly reminded it’s there.
The silver lining here is that if you can clearly identify a problem, name it, and talk about it in a healthy way, then you're really on the right track to being able to solve it.
Bad Debt Vs Good Debt
You might have come across terms...
One of the questions I get a lot from people as a coach is around whether or not people have a good money mindset. Many people think that if they can resonate with concepts like “abundance” then it means they have a good money mindset. And while abundance is a great thing to focus on, that doesn't necessarily mean that you've got a great mindset around money.
Whenever I'm talking about money, I really like to get into the specifics. When I’m coaching my clients, we don't focus on concepts like abundance. Instead, we get down to the nitty-gritty of it and actually talk about the different types of money.
Today want to give you a quick intro into six types of money that I actually focus on.
Later this week I will go into each of these types of money in more detail.
The first type of money is savings. Can you save money? Have you ever been able to save money? And how do you feel when you think about saving money?
The idea of savings might make you feel...
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