When I was a kid, I desperately wanted a horse.
And my parents desperately wanted me NOT to have a horse! Because they knew that a horse was a major commitment. It meant early mornings and expenses – and a major effect on our lifestyle and freedom.
In the end we settled on riding lessons – because we realized that what I really wanted was to RIDE a horse! (I didn’t really want to get up at 5am every morning to shovel poop)
And I think this is why a lot of people will avoid setting up a money system.
They think that in order to RIDE a horse, they need to OWN the horse – and commit to all that goes with it.
You want to take control of your money.
Because you want financial freedom and stability. You WANT to achieve your goals. You WANT not to worry about the bills all the time.
But you THINK that in order to achieve that, it has to be this restrictive thing, where you have to micro-manage every dollar and miss out on fun stuff.
But what if I told you that’s simply not true?
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That a GREAT money system will give you all the freedom & financial stability you crave – WITHOUT missing out on anything or having to micro-manage your money?
In fact, with the Magnetic Money™ System, it takes me less than 5 minutes a week to manage ALL my money!
That’s less time than it takes me to make my oats in the morning!
Not only does it only take five minutes a week to know it’s all sorted – but it’s given our family the most amazing benefits, including:
– Being totally fine during a period of 6 months with NO income – because we had buffers and minimal debt as a result of implementing our money system. The drop in income didn’t affect our lifestyle at all!
– Paying off $70,000 worth of credit cards in just 7 months! This happened right after we committed to our money system!
– Buying a beachfront apartment that’s now an amazing source of income and a fabulous place to get away to for a few days.
As a business owner, knowing how to manage your finances is about more than just doing the books. It’s about knowing how to manage your business finances AND your personal money.
It’s about having a holistic system so your business is looked after and so YOU are looked after.
Before I developed the Magnetic Money™ system, my accountant would pat me on the back, telling me how well my business was doing. But meanwhile, I was stressed to the eyeballs because my personal finances were a mess!
I simply couldn’t find a system that covered both my personal and business money and allowed for irregular income and a business that was still finding its feet. So I created my own.
And I had one rule:
Managing my money can’t take longer than making my oats in the morning. (which is about 5 minutes)
So let me talk you through my ‘instant oats’ 5-minute income distribution process:
STEP 1:
When I make my oats, I get all my ingredients and toppings out first. I gather everything I need.
And it’s the same with my money. The first thing I do is to get out my tools – my smartphone, my A5 notepad and a pen. And then I tally my income for the week.
So that’s the first step – getting everything together.
NEXT:
When I make my oatmeal, I like to sprinkle on seeds and throw in some blueberries. And these need to be proportionate to the amount of oats I have in the pan.
Now when it comes to managing your money, your income fluctuates. And that means your tax amount will be a little bit different each time. So the amount of tax money you set aside needs to be PROPORTIONATE to your income.
The easiest way to do that is by using a set percentage. Decide on a percentage by talking to your accountant or refer to your last tax return – then apply that to your weekly income.
That’s step number 2. Knowing how much tax to set aside.
Side Note:
A lot of people avoid organizing their money because of fluctuating income.They think, “Yeah, but what if I don’t make enough money next week – then what??”
But you need to understand that it’s only when you pay attention to your cash flow, that you can SMOOTH it. And THAT is the secret to maintaining your lifestyle!
You will have irregular income. And to maintain your lifestyle you need CONSISTENT amounts of money available – so you can do what you want – no matter whether you’re having a big income week, or a smaller one.
The key to having that consistent amount of money available is to smooth your cash flow as much as possible. Even though it may arrive in irregular amounts, you put it through a process that averages it out, so you always have the money you want & need available.
So if you’re someone who’s been avoiding proactively managing your money because of irregular cashflow, it’s time to recognize that PROACTIVELY managing your money will actually ALLEVIATE that problem!
And THIS is when you get to enjoy peace of mind and a deeper knowing that it’s all sorted.
THIS is financial stability!
And this is what raises your vibration, makes you feel great about money and your business and magnetic to so much more! Which means you’ll have even MORE money to play with! 😊
And this is why after the 10 seconds it takes me to calculate my tax for the week, I have a quick look to see if I’m in shortfall.
Have I brought in less than I need to? If so, I note that down.
It’s the same as noticing that I’m running low on cinnamon or maple syrup. I write it on my shopping list so I don’t run out and can continue to enjoy my favorite breakfast every morning.
What’s your favorite breakfast? Let me know in the comments!
And by the way – how easy is this so far?
I actually think this takes LESS time than making my oats!
Ok, let’s move on to the final step:
Pull out your smartphone and make a couple of transfers.
Transfer that tax money into your tax account and pay yourself. That’s it!
You can do a couple of quick banking transfers. You do it all the time, right?
This is how EASY it is to keep your money system on track so that you get to enjoy financial stability and reap massive rewards – just like we did.
When you’ve got a great system in place, you can trust it.
All you need to do is show up each week & go through the 5-minute process.
Of course, you will need to know exactly what those amounts to transfer are.
And that’s why I recommend you read THIS EPISODE next, because it covers the 5 critical elements that will ensure you’ll achieve your financial goals WITHOUT feeling like you’re missing out on a damn thing. 😊
See you over there!
xx Miriam
The Limiting Belief Busting Toolkit™️ (Money Block Buster System)
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