How to sort out your money on low income – 3 reasons to start TODAY

How to sort out your money on low income – 3 reasons to start TODAY

Do you feel like there’s no point having a money system because you’re not making enough?


In today’s episode we’ll talk about how to sort out your money on low income.

I’ll share 3 reasons why you need to get your money system in place sooner rather than later – ESPECIALLY if you feel like money is tight!

See, a lot of people make the mistake of thinking that a money system is for those people who’ve got plenty to spare.

But this is actually a habit that the sooner you start, the sooner it will help you move forward financially so you DO have plenty to spare!

 

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For me personally, I started creating what is now known as the Magnetic Money™️ System when I was a broke single mom. I needed to make every dollar count because I literally had weeks where I thought I wouldn’t be able to pay the rent or put food on the table. And so it was critical that I stayed on top of my finances, knew how much money was available and what my priorities were.

But this goes way beyond survival!

Starting to get on top of your money and taking control is the beginning of you getting out of that jam and moving forward financially. This is the start of being able to create financial stability and eventually, financial security and wealth for yourself.

Here’s 3 reasons to get started as soon as possible:

NUMBER 1: Managing your money well is a HABIT. 

So the very first reason why you want to get a money system in place now – even if you feel like you’re living paycheck to paycheck – is that it’s important to get into good habits early.

And this is one habit you want to get into as early as possible. Because if you get into bad habits  when you have little money, you will take them with you when you have more money. And that will only create bigger problems!

It’s so much easier to start a good habit and continue it, than to try and get out of a bad habit down the track. So you may as well start off on the right foot.

Get into good habits early & take them with you.

NUMBER 2: Breaking it down avoids future pain

A good money system allows you to plan for bigger expenses by breaking them down.

For example:
Say your car needs a thorough service and new tires once a year and it costs $1,000.

Now, if you don’t plan for that, then this sudden expense to ensure you can keep driving the kids to school can create a really stressful situation.

But if you break it down with your money system, it’s actually only $20 a week you need to consistently put aside. And in return, you get amazing peace of mind, knowing your car will continue to be roadworthy and reliable.

It makes a huge difference to your stress levels. It allows you to stay focused on your business to keep the money flowing in, rather than get distracted by sudden emergencies and start experiencing a feeling of lack.

There are loads of big annual expenses like this, not least of all your tax bill!

By getting that money system ticking along sooner rather than later so you can track and  smooth your cash flow, you avoid future pain and stress. And that helps you stay in alignment with abundance and continue to attract more.

This is exactly what the Magnetic Money™️ system is designed to help you do – and what any good money system should do. 

NUMBER 3: Discover your REAL business income goal!

Right, let’s move on to the third reason why you want a money system in place sooner rather than later. This one is especially for you if you feel like all your money’s going out on bills and your business isn’t bringing in enough.

Your money system will show you what the REAL gap in your income is! (and that’s often a lot less than you think, because we tend to worry and catastrophize way too much…)

Once you know what that number is, you can then plan your business income streams to ensure you meet your income goal.

Your money plan delivers your business income goal.

It lets you know what your business’ baseline income target is. From here, you can set other goals that include wealth creation, lifestyle upgrades and so on.

But first you need to know your baseline target. The income amount that will ensure the bills get paid and the business keeps running.

Unfortunately, too many people just make up a random number when choosing a business income goal, with no idea how they actually need to bring in.

Once you know your income goal, you can then plan your income streams and decide HOW you will generate that income.

This is exactly what we help you do in the Magnetic Money™️ System Bootcamp, so be sure to check that out here to learn more.

A great place to start is by organizing and tidying your banking. That is step one. You want to get those foundations in place and make sure you have the right infrastructure in place so your money can do what it needs to do.

I have a free workshop to help you get started. It’s called Organize & Tidy Your Banking and you can get instant access here.

Think of it as Marie Kondo’ing your finances so you can experience the joy of becoming magnetic. It’s a lot more fun than a bunch of rolled up socks & jocks, believe me. 😊

Remember – abundance is an inside job.. but there are some things we have to do on the OUTSIDE  to help it flow.

 

See you soon!

xx Miriam

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Emotional Spending – how to stop feeling guilty for spending money

Emotional Spending – how to stop feeling guilty for spending money

Today I’m giving you my top tips for avoiding the guilt of retail therapy


We’ll help you stop emotional spending so you can stop feeling guilty for spending money on yourself – and make better purchase decisions.


When it comes to retail therapy, I definitely tend to do more of it when it’s the last thing I should be doing. It’s usually either financially not a great time to eb spending up – or there’s something else going on that I should be focusing on instead.

Because more often than not, retail therapy is just a distraction.

That’s why today I’m giving you some practical tips to avoid unnecessary retail therapy and the subsequent guilt that comes from it. You’ll also get some practical tips to help you make better purchase decisions so the things you buy are what you actually need, want and can afford!

 

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Looking back, it’s pretty obvious that the times I was doing the most unnecessary spending were also the times I was feeling the least happy and fulfilled.

The shopping was just a distraction, an escape mechanism.

It’s not really therapy!

We call it ‘retail therapy’, except it’s not actually therapy. It only gives you a temporary high – and then you’re left dealing with the bill and the guilt afterwards. And that makes you feel even worse!

So let me give you some practical tips to help you avoid getting into that pickle in the first place. Because we want to ensure that when you shop, you do it in a healthy way that makes you feel empowered and great about your choices.

Tip Number 1: Want vs Need:
Before you buy something, ask yourself, “Do I just want this, or do I actually need it?”
Because we say, “I really need this,” when we actually just mean that we really want it.

And it’s okay for you to want things. But the next question to ask is, “WHY do I want it?”
And that can be extremely illuminating!

Some more questions to ask yourself:

“What do I really want? What is it I’m really looking for? Is it validation, feeling more desirable, feeling rewarded or worthy? What am I actually wanting that I think this thing I’m about to buy is going to give me?”

Because if you’re looking for something else altogether, then this purchase is just a band-aid. And when it falls off, you’ll be left with an even bigger sore.

So the question of, “What do I really want? What do I feel is missing?” is very powerful.

The ease of online shopping can make quitting retail therapy pretty tough. Because it’s just too easy! There’s a million apps, free shipping & free returns. It feels like this effortless commodity – except you still wind up with the charges on your credit card!

So Tip Number 2 is: Set a spending limit!
The rule is that anytime you want to spend more than this limit, you need to wait 24 hours before going ahead.

This will give you some breathing space and helps you step away from the emotional state that’s driving that purchase. It helps you make a rational decision you’ll feel good about and consider your choice from outside that emotional space. Then you can decide whether you really need it – or if you just wanted it to try and fill a void.

It gives you space to step away from making an impulse decision based on emotion.

Tip Number 3: Imagine The Future
Another trick that really works for me is to imagine myself in 6 months time. I imagine having that item in my wardrobe or in my home. How do I feel about it now? Do I actually want to use it? Do I enjoy having it?

Example: I’ve been looking to buy some summer dresses. Now, I’m usually more of a jeans and t-shirt kind of girl but decided I’m going to make an effort to dress more feminine.

And as I imagined needing to leave the house wearing one of these dresses in 6 months time, I suddenly realized that none of them were a style that suits me!

So imagining yourself with it in the future is a great little trick – especially when online shopping. Because it looks great on the model when we ‘Click To Buy’. But sadly I’ve come to realise that still doesn’t help me suddenly grow cleavage…

Tip Number 4: Buy a round trip!
Last but not least, a really, really practical tip is to make sure you can get a full refund without having to pay shipping charges in your returns.

And a bonus tip is: When your items arrive, keep those tags on until you’re ready to wear them!

Make a note in your diary so if you haven’t worn it by the final return date, you can have another look at it. And if it’s still sitting in your wardrobe by then, chances are, you will return it. Because if it was perfect and you loves and needed it, you’d have found a way to wear it by then.

Which probably means you  were looking for something else altogether…


Okay, so there you have some really practical tips to:
1. avoid the guilt of retail therapy
2. to actually make some really good empowering purchase decisions


Tell me, WHAT ARE YOUR BEST SHOPPING TIPS?
How do you avoid the guilt of retail therapy?

Share your top tips in the comments below!

I also highly recommend you get your money organized so you know where to find your fun money and how much you can spend guilt-free. It’s a massive help in avoiding emotional spending and the subsequent guilt.

My free workshop “Organize & Tidy Your Banking” will help you get started. You’ll find the link to get instant access below.

 

Enjoy & see you in the next episode!

xx Miriam

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Should I pay off debt or save money first?

Should I pay off debt or save money first?

Should I pay off debt or save money first?

It’s a common question.
In this episode, we’ll answer that question for you and give you some great pointers, so you know the best place to start.

If you have a reasonable amount of debt and little in savings, it can be difficult to know where to start. So the question is:

“Do I begin by saving or do I start by paying off debts?”

Because both are causing some stress.

So there’s a correct answer based on purely crunching the numbers. And there’s a correct answer when it comes to YOU. And they are not necessarily the same answer!

So today, we’ll talk about the difference between the two and how to proceed in a way that will serve you best.

 

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Now, if you’re currently working towards a very specific goal, for example, wanting to buy a property – then you should be speaking to your mortgage broker or financial advisor because there may be some specific factors that influence your options.

But outside of that, let’s talk about what is generally the best approach for most people faced with the choice:

Do I pay off debt first or do I save money?

So on a numerical basis, it usually makes sense to start paying off debt as quickly as possible.
That’s because debt is working against you by accruing compound interest. You’re being charged interest on your debts. And if you don’t stay on top of that, you will be charged interest on the interest… and then interest on the interest on the interest.. and so on.

This is how so many people get into a situation where their debts get out of control to the point that they can’t stay on top of them anymore – let alone pay them down.

And on the other hand, if you don’t have a lot of savings in the bank right now, that can be super stressful. And when we look at how that makes you feel about your finances – stressed about money, worrying, etc, that may be the deciding factor for you on where to start.

Because as much as numerically it makes sense to get on top of that compound interest, vibrationally, the correct answer is actually to do whatever is going to help you FEEL better first.

Because as you start to feel better about your finances, you start to align with abundance more easily. And that means that you can start to generate and attract more money into your business and life.

So the right answer for you may be different to what makes numerical sense, just because if you don’t get a little bit of money in the bank to fall back on in case of emergency, you won’t be able to sleep at night. And the stress of that alone is going to cause you to keep attracting problems rather than more money to help you get out of the situation.

In a moment, I’ll share with you a great ‘best of both worlds’ approach that tends to help most of my students.

But before that, I’d like to know:

What stresses you out more? Lack of savings or debt? Let me know in the comments!

One of the traps people fall into when they start deliberating whether to save or pay off debt, is thinking they have to do it all at once. They think about the totality of it all.

For example, they may want $20,000 cash in the bank to fall back on in case of emergency. That’s a lot of money! So the thing to remember is that you don’t have to do it all in one hit.

The same goes for debt reduction. You don’t have to pay off ALL your debts at once – or even in a row!

So the trick is to break it down.

When you break it down into little micro goals and smaller milestones, you can actually swing between the two areas of focus and move ahead faster. 

The key is still to always focus on just one at a time.

Let me give you an example:

Say you owe $10,000 on credit cards and want $10,000 cash in the bank. That’s the big end goal.
But we can break that down. We might start by just aiming to get $1,000 cash in the bank so you can sleep at night. And then if the car breaks down or the electricity bill blows out, you have it covered.

So you can start there. That’s your first focus and you need to focus ONLY on that while you park everything else.

Once you’ve gotten there, THEN you can shift your focus to the next micro goal.

And that may be paying off the smallest of your credit cards.

So you choose micro goals rather than doing all of it at once.
And once that micro goal has been achieved, you can switch to another one.

And as you continue working your way through the micro goals, you end up achieving your bigger goal!

We actually help you do all of this and more in the Magnetic Money™️ System BOOTCAMP.
It gives you all tools, systems and info you need to set up a money system designed for you that will and systematically help you achieve your goals. You can check it out here.

And if you want to get started by focusing on just reducing debt, then check out the ‘Freedom from Debt’ system here.

Okay, I hope this has been really helpful and that you now have an idea of which micro goal you want to start with!

Let me know in the comments! Do you have more clarity now? Where are you going to start? What will your first milestone be? I

Remember – abundance is an inside job but there are things we need to do on the outside to help it to flow.

xx Miriam

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The Hidden Money Block Nobody Talks About

The Hidden Money Block Nobody Talks About

There’s a hidden money block nobody talks about… and it’s a lack of money confidence!

While people busily work on their mindset and try to align with more abundance, so more money can flow – they often miss one very important detail.

And that is that, once the money comes in, you actually have to deal with it!

Because you’ll need to distribute your income, pay your bills and taxes and make a whole bunch of financial decisions.

You’ll ALWAYS have to interface with your  money – no matter how much – or how little – comes in it. 

You simply cannot avoid dealing with your money.

 

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And if you lack confidence – if you’re not sure how to best manage your money – that right there is a MASSIVE mindset wobble AND a huge vibrational wobble!

Because if there’s uncertainty, intrepidation or even anxiety…. 

If you’re uncomfortable looking at your banking…
If you’re not quite sure what the best thing to do with your money is…

That creates an unconscious block to more of it flowing into your experience!

You will unconsciously BLOCK IT – because ultimately, it gets UNCOMFORTABLE

And no amount of alignment or mindset work can overcome that.

When I first started working with women in business on their money mindset, I noticed an attitude of “I’ll just manifest more money and that’ll fix everything.”

They thought by manifesting more, they’d be able to avoid having to deal with it

But that’s backwards!

Because the sooner that we gain those money skills, the sooner we grow in money confidence – which helps us dissolve those mindset and energetic wobbles, so more money can flow.

If you lack confidence in managing your finances, you’re definitely not alone!

Because most of us were never shown what to do. Nobody showed us how to organize and manage our money when we were young. And even if you took a business course, usually you learn how to manage the company’s money, but not your personal money. (I’ve worked with several Accountants who struggled to manage their personal finances, because nobody had ever taught them!)

Most people walk around with this silent money shame.
They’re just making it up as they go, hoping for the best. But they don’t feel like they know what they’re doing. They have no confidence in their ability to make the right decisions.

And if that’s you, please know it’s not your fault!
Because how are you meant to know what to do, if nobody ever showed you?

If you have ever tried to get help with managing your finances, you probably noticed how hard it is to find someone who’s able and willing to teach you what you need to do.

When I first started my business, my accountant would tell me how well I was doing..  but we never talked about my credit card debt and the enormous stress it was causing me! My business was going great, but I was personally super stressed about money! And my accountant only focused on the business and its finances. And it wasn’t their fault – that’s their job.

Then there are financial advisers & planners. But they’re usually looking to invest a few hundred thousand dollars of your money to help secure your financial future. And that’s great, but how do you get there in the first place?

Last – and definitely LEAST – are the “Done For You” budgeting and money management services!
I have a major issue with those and think they’re rife with danger.

Because when you give away your power, not only do you never learn how to manage your money…
You’re paying somebody else (often exorbitant sums of money) to do it for you and that keeps you stuck, waiting for them to give you weekly pocket money like a kid.

When I was running my finance business, I often saw these services go horribly wrong for my clients. It made me so angry. Clients were paying huge amounts of money but  not learning how to take responsibility for their finances or become financially independent.

And worst of all… unbeknownst to them, their bills – including their mortgages – were often being consistently paid late – and their credit score took a dive down the toilet!
It left many people in a very difficult predicament.

So I urge you: Get educated and learn how to manage your money YOURSELF!

The great news is that it’s so much easier than you think! It just takes a simple step by step process. And it all starts by asking yourself “How do I do this and where do I start?”

Above all, please give yourself a break and stop blaming yourself!
Because remember, nobody ever taught you how to do it! And the resultant lack of money confidence is a massive money block – which only makes things harder!

But as you set out to educate yourself and learn how to manage your money, you’ll transform your relationship with money. As you grow in money confidence, it will help dissolve those money blocks and old stories of “I’m not good with money. Money slips through my fingers” etc

And as these things start to shift, you’ll start to attract more money consistently. And that will help buoy your confidence… and then you’re up & away!

Learning how to take loving care of your money is a beautiful healing act that helps you transform your relationship with money – both inside and out.

It makes you magnetic to more and it transforms the way you feel about life. It’s a beautiful thing.

If you’re not sure where to begin, I recommend starting by organizing your banking, because having that set up properly is the foundation stone of a money system designed for growth.
I have a free workshop you can take to help you do that, Just click click here to get started.

I look forward to seeing you there so you can start transforming your relationship with money from the inside out. 

Remember, abundance is an inside job – but there are things you need to do on the ‘outside’ that allow it to flow. 

Before you go, I’d love to hear from you!
On a scale of 1-10, where’s your money confidence at right now?

Please let me know in the comments below.

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What to do about money stress – before you do anything else!

What to do about money stress – before you do anything else!

If you’re wondering what to do about money stress, then you probably think more money is the answer.

But in this episode you’ll find out why this narrow-minded approach will often backfire.

Because it usually AMPLIFIES your money stress, rather than relieving it!

And we definitely don’t want that!


So let’s talk about what to do about money stress so you can have less stress AND more money!

 

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We’ve all heard the stories of lotto winners who end up back where they started (or worse) within just a couple of years. And I saw this in my finance business, too. The people on higher incomes usually had the most money stress.

I noticed that the way people FELT about money had very little to do with HOW MUCH money exactly they were making.

And there’s a simple reason for that”

More money doesn’t change your money patterns… it AMPLIFIES them!

You might even have noticed this in your own life. If you’re someone who tends to worry about money, and you think back to a time when you were making a lot less than you are now, back then you probably thought that your current income would alleviate that worry.

But it didn’t – and that’s because if you were wired that way back then, that program is still here NOW… unless you did something to change it.

It’s usually a program that says “I’m not safe, so I need more.” 

I experienced this myself. When I started my finance business, I was a broke single mum with ZERO income. So I set a goal of making $10,000 a month, thinking that would be the end of my money worries. But once I was there, earning well over $10,000 a month leveraged income, it turns out I was more stressed about money than when I was on the bones of my butt. I had bigger expenses, larger commitments. And my tendency to worry about money hadn’t changed, so with more at stake, I also worried a whole lot more.

If you’re in the habit of worrying about money & thinking there’s not enough – that won’t change with more money!

If you’re in a pattern of spending it all as soon as it comes in – that won’t change with more money!  Cause guess what? There are always more things to spend money on!

By the way, that pattern of always wanting to have more money in the bank and still feeling like it’s never quite enough, we call the Accumulator Archetype.

We all have a Money Habit Archetype – a default pattern we tend to revert to once we have the basics covered.

There are 3 Money habit Archetypes:

1. The Accumulator who always wants to squirrel money away for a rainy day. They never feel safe. Most accumulators are driven by fear, so more money doesn’t change the pattern – and it certainly doesn’t change the feeling.

2. The Spender is stuck in a pattern of ‘money comes, money goes’. They usually end up where they started.  See, you can spend $50,000 a year, or $5 million a year – it makes no difference, because there are always more things to spend money on.

3. The Overextender is continuously sliding backwards –  even when they have more money coming in. If you give them $100,000 they’ll go “Great! There’s a deposit for a Ferrari – I’ll just  borrow the rest!” 

There aren’t too many true Overextenders around, but they definitely exist. In fact, one of my parents was one and my other parent was an Accumulator. Between the two of them things somehow balanced out & we didn’t didn’t end up living under a bridge. But it certainly helped me see these patterns up close and recognise some of the unhealthy stories that were driving them.

Each Money Habit Archetype can be driven from a place of fear and unhealthy programming – or it can be coming from a place of abundance – of knowing there’s plenty, feeling safe and secure and knowing it’s ok to spend AND save money – because more is always coming.

A healthy Accumulator will still have a nest egg but they will be relaxed and know there’s enough and they’re safe.

A healthy Spender will still spend money, but they won’t spend ALL their money from an unconscious fear that they’ll not be able to buy things down the track.

But unfortunately, most of us are walking around with lots of unhealthy money stories.

That’s why one of the principles of Magnetic Money is that we need to recognize, heal & release that old money story so we can start creating healthy new patterns that come from a place of abundance, rather than fear.

So with just that quick overview – what do you think your Money Habit Archetype is?

Are you an Accumulator? Does it feel like there’s quite enough?

Are you a Spender? Do you spend your money as soon as it comes in and it’s a case of ‘easy come – easy go’?

Or are you an Overextender and seem to be perpetually sliding backwards?

If you’re not quite sure, you can take the Money Habit Archetype Quiz. You’ll find the link below.

So the moral of the story is that as well as looking at how you can call more money into your business, you also need to look at your money patterns and the stories that are driving them.

Because as you shift and transform those, your desire for more money can be underpinned by a sense of trust & abundance.

And this in turn makes you more magnetic so you ATTRACT more money. And it allows you to actually keep and enjoy that money.

What Aha moments about your money patterns have you just had? 

Let me know in the comments below!

Next, I invite you to spend some time looking at your money patterns and considering whether they’re coming from a place of love or fear.

This awareness alone will go a long way towards helping you transform and shift those patterns so that you can start experiencing more abundance, both inside and out.

And that’s what I’m all about 😊

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