Basic Money Management Skills For Women in Business

Basic Money Management Skills For Women in Business

Sadly basic money management skills aren’t usually taught in school – even though they should be – because they’re essential If you want to succeed (especially when you’re in business).

But how are you meant to know what to do with your money, if nobody ever shows you?

So in this video, I am going to give you some practical money advice, and I’m going to share with you the three golden rules for financial success in business and in life.

Back when I was a full-time finance professional, I literally helped thousands of people take control of their money. And there was one very disturbing pattern, because I noticed very quickly that the people with the highest incomes were very often also the ones experiencing the highest levels of money stress.

And this is exactly why in my Magnetic Money program, we marry the magical with the practical. We want you to attract that beautiful high, healthy level of income. And we want you to know how to take care of that money so you can stop worrying about it and actually know how to make your money go to work for you.

As with everything, it’s really critical to get the basics right. So in this video, I am going to cover the three golden rules that underpin all basic money management skills, and which will help you achieve financial success in business and in life. Be sure to stick around until the end, because as a bonus tip, I’m also going to take you through the key bank accounts that you should have for both your business and your personal finances.

So let’s get into it!

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Golden rule number one is to always save something.

So back when I was a single, broke mom and I really struggled to even pay the rent, I knew that I needed to change things. I knew that I needed to turn around both my mindset and my financial situation, and also the energy I had around money. I was consumed by stress around money and constantly feeling broke & like there wasn’t enough. And I really needed to shift my focus from being this poverty consciousness to starting to notice that there was money there and start to get some momentum going on a positive level.

So what I did was I made a rule that I would only spend notes. I used cash for everything. I spent only notes and I saved all the coins. And at the end of that first month, I went to the bank and I banked something like $46 in coins. And I started a savings account.

Now, the really interesting thing was that because I was only allowed to spend notes and had to break a note every time I wanted to spend money, it made me really careful and considerate of the money I was spending. So it actually helped me be more mindful and save money as I was going through the month. And that extra money that I saved in coins, I didn’t really feel like it was missing. And at the end of the month, I had $46, which was a huge amount. And the rule was I had to bank all of it. I wasn’t allowed to use it to pay for groceries or anything else. And it helped me feel like no matter what my situation, I was able to still move forward and start accumulating savings. And that really was the start of a whole new paradigm of things starting to shift, of the tide starting to turn.

So no matter what your financial situation is, you always want to save some percentage of your income. In a perfect world, you’d be saving at least 10% of your gross income. But if you can’t start there, start with 1% and then slowly and surely build your way up. Because as you start, you shift your mindset, you shift the energy around money, and you start a whole new practical pattern that says, “I can save. Here’s the evidence.”

And all of that builds momentum and it grows and grows and grows from there.

Golden rule number two is to use percentages.

I already touched on that with golden rule number one, where I suggested that you ultimately aim for saving 10% of your gross income at a minimum. And ultimately, you want to get to something like 20% of your gross income going straight to your investments.

(And if that freaks you out right now, it’s okay…  because as I said, work on percentages and start small).

The reason why working with percentages is so simple, is that you can keep using that same breakdown, no matter what your level of income is. So whether you’re earning a thousand dollars a week or a hundred thousand dollars a week -, if you say that “I’m going to save 10% or 5%” – or whatever the percentage is – the percentage never changes. And so that’s really powerful because it helps you stay on track and it ensures that you always live within your means and that you’re still moving forward. So by having the percentages, it eliminates that temptation of, “Oh, now I’m making more money. How about I spend more money? How about I sign up for a bigger mortgage, a bigger car loan, a bigger holiday, a bigger everything.?”

And before, you know, it, all the money’s just disappearing. And that actually happened to me when my income started to take off and I was making that six figure plus income, but my expenses had all grown to match and there really wasn’t any extra left for me. But by switching to percentages, it meant that I was always allocating money to fun stuff and wealth creation and paying off debt and all the other things that needed to be covered and paid for in right proportions. So the percentages don’t need to change as your income grows, which is a really cool way of making sure that you’re on track, that you’re living within your means, and that you’re also moving forward. So golden rule number two, use percentages.

And then golden rule number three for financial success that should underpin all your basic money management skills is that you get really clear on and you focus on your number one financial priority at any given point in time.

So what this means is that if you want to experience that financial success and move forward and move through your wealth creation plan, you want to make sure that at any given point in time, you are 100% clear on what your current number one focus should be. So that will vary depending on where you’re at in life. At certain stages in life, it might be all about eliminating debt. And then at the next stage in life, it might be about accumulating a buffer – so that should anything happen (like say a global pandemic for example) you have three or even six or maybe 12 months worth of living expenses to fall back on. And at other stages in life, it might be about accumulating money to put into investment or into buying or paying off your first home or boosting your retirement funds.

So it’s important that you continually look at your wealth creation plan and assess “What should my number one priority be right now”, and then within your money management system and the percentages that you’re allocating, there is a certain percentage that gets allocated towards just that one thing right now. And then as that one thing gets ticked off the list, you allocate that same amount of money to the next thing on your list. And you shift your number one priority and your focus to the next thing on your list.

What that does, is it puts you into laser focus mode. And so you accomplish that goal, that number one priority so much faster. The biggest mistake most people make with their money management skills and why they don’t get to experience financial success more easily is that they spray their focus. They’re trying to do everything at the same time. They try to pay off debt, accumulate savings, save for a home, start investing in shares, boost their retirement fund all at once. And so you’re just drip feeding randomly here and there.

When you stop and actually get clear on what your number one priority should be right here right now, then you can put all your focus on that one thing, knowing that you are absolutely focusing on the thing that is most critical, most important for you right here right now, and that will propel you towards financial success, the fastest. And when that box has been ticked, you shift your focus onto the next thing you reassess and decide, okay, what should be next? And you move on to that.

Now, speaking of eliminating debt, if that is your number one focus right now, then I do have this other video right here, which you can watch next to help you ensure that the process that you’re using to clear your debt is the one that helps you eliminate that debt in the fastest, most efficient way possible. So be sure to watch that next.

Now you might already follow one or even all three of these golden rules. So let me know in the comments, which of these golden rules do you already follow? Which ones have you already tried? What’s your favorite? Or maybe which one are you going to try or possibly recommit to next?

Okay, as I promised at the start, I’m going to give you a little bit of an extra bonus before you go. 

And that is covering what your basic bank accounts should be, that you have both for your business and your personal finances. And this is actually a lesson straight out of part of the Magnetic Money program, because it’s really important that the practical infrastructure you have in place really supports your money management system. And that is what allows you to then put it all on autopilot and make sure that all the percentages are correct, that there’s always the right amount of money being saved and that everything’s being taken care of, with your number one priority at all times being the key focus. So having the bank accounts in place that allow you to then set up that entire system is really critical. So let’s go through what they should be.

Let’s focus on your business first, and you really need a minimum of two bank accounts for your business.

The two bank accounts that you should have in the name of your business, whether that’s your own name or the name of a company, or maybe something like a trust should be :

Number one, your business operating account. Now that account is the one that all your income will come into and that your business pays all its expenses out of,including your wages (because your wages are then your personal income,). Your business pays its bills, including the wages of its CEO, which is you. So that’s your business operating account. All income for the business comes into that and all expenses, including your personal pay comes out of that account.

And the second business bank account that you really must have is a separate account to park tax money in.

And again, you will use a percentage for this. And the percentage of your gross income that should be allocated and tucked away for tax will vary, depending on whether you’re running a company or not, and how much income you’v currently got rolling through your business. So refer to your accountant, refer to your last year’s, or the couple of years tax returns and make a decision of what percentage of your gross turnover – of the total income coming into your business – should you be putting aside to make sure that you can pay your tax bill. Because you know what? You’re in business to make profit. And usually profit is taxed in most countries. So you want to be aiming to pay tax. Really, you want to be aiming to pay as much tax as possible e ffectively, of course – because it means you have made lots of profit.

So by using a percentage, it means that the amount of tax money you’re putting aside in terms of dollars will always be appropriate for your level of income. Makes it nice and easy and it makes sure that you’re perfectly on track.

Okay, now let’s move on to your personal bank accounts.

So, I recommend that you have at least four personal bank accounts. The first one is your bills account. So the bills account is generally the one that all income or personal income is paid into. And remember, your personal income is not your business’s gross income. It is the income that you receive as wages or salary from your business plus any other household income. So all of it comes into the bills account. And from that bills account, you set up direct automatic debits – because the less you have to think about this, the better – for all your regular household bills. And I’m talking things like insurance, electricity, gas, all those personal expenses that are going to be ongoing.

And then the second bank account that I strongly recommend you have separately is a cash spending account with a spending card, an ATM card, an Eftpos card linked to it.

Now, in our household, we have one of these each – and that’s where all your discretionary money goes into – the money for your discretionary spending, your fun money, the things that you can choose to spend or choose not to spend on. And so each month or each payment cycle from that bills account, a certain amount gets deposited into your cash discretionary spending fun money account. And you get to spend that on whatever you choose. And of course, before you’ve done any of this, you’ve sat down and worked out your entire money management system and made some decisions around what those dollar amounts should be. But you need this infrastructure in place, remember?

So cash spending account means that that’s the money you get to spend on the fun stuff like going out for lunch, or maybe having a massage or whatever those things are. And when the money’s been spent, you’ve had your fun, and you’re not going to be tempted to dip into the bills account, because if you do that, you might have trouble paying the power bill when it comes in, right? So everything is nice and separate.

Now, the third type of account that I recommend you have is what I call the extras or the big splurges account. So you want at least one of these and it’s really short term savings, but for spending on big ticket items or on maybe annual items. So things like Christmas gifts or birthday gifts for the kids or things like your annual family holiday. So you want to have a separate bank account – at least one – to cover those things. And some people like to have several separate bank accounts. They might have a holiday money account and a Christmas and birthday presents account separately.

So, those extra items should be in a separate account because they’re big ticket things that happen seasonally. So you don’t want to mix that up with your everyday spending or your everyday household bills money, and find that again, you might accidentally run short.

And then the fourth type of account needs to be a savings account. Now, depending on where you’re at in life, that might be just a cash savings account, or it might be an investment account, or it might actually be your shares investment that you keep building on, but it’s savings. It’s long-term savings for either emergency money or for investing and growing your wealth. It’s not money that you’re planning to touch anytime soon. So it’s very different to those Extras accounts. They’re not really savings. They’re just you putting money aside all year long so that when Christmas comes, you can buy some gifts for the family.

THIS is wealth creation. So savings/wealth creation. You want to make sure you have at least one bank account where money can accumulate for that and doesn’t get mixed in and diluted by either cash fun money or household bills.

So with all of this, as I’ve already mentioned, the key thing is to have a system in place and to have made those decisions of how much money should flow through all of these accounts before you even get started. 

And this is what we do in the Magnetic Money program. 

But before most people can go there and set up their money management system, they actually need to start looking at creating that ecosystem and shifting the way they think about money and the way they feel about money so that they can then go on to shift the way they deal with their money.

All of that together is what allows you to unlock your six figure plus income and stop the old sabotage patterns – so that money is flowing to you freely, staying around and you actually know what to do with it. You can put it into your money management system – you can put it into your wealth creation plan – you can let it flow through those bank accounts with the appropriate percentages and give every dollar a job to do. And that is the fast track to success.

So I’ve created a free new Masterclass that I’d love to invite you to watch. It is called “The secret code to unlocking your six figure income”. And it’s available for you to watch right now, free of charge at the link in the comments below. So hop on that now, and I’d love to see you in that Masterclass. 

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My top hack for eliminating debt – that’s super fast!

My top hack for eliminating debt – that’s super fast!

Today I’m going to share with you my number one hack for eliminating debt.

You’ll want to stick around for this one.

 

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I’m going to use a four-letter word… debt. 

Nobody likes that one. 

We’ve all got it – most of us anyway – and we don’t like it, we want to get rid of that thing. 

Energetically, the more you try to get rid of something, the more you actually give it power, the more you reinforce it.

What you resist, persists. 

So you want to be careful. What you want to do is actually turn that around by implementing the really practical things that I’m about to share with you. 

Turn that around and actually change the energy.

Right now, your energy is probably one of ‘I don’t want any more debt!’ which actually just keeps more debt coming at you.

Rember: What you resist persists and where attention goes energy flows. And everything is energy. 

We want to turn that energy around to ‘Every day, I’m eliminating debt. Every day my debt is shrinking. It’s shrinking faster and faster!’, which is a completely different vibration. 

That’s what we want. 

So how do you do that? 

OK, let me share my number one tip for eliminating debt with you: 

Most people, when they have multiple credit cards, car loans, etc., they just make the minimum payments on everything. Sometimes they pay a bit more here and there, but generally, they’re just making the regular payments and trying to get on top of things. 

What you want to do is this: Get a piece of paper and list all of your debts. List what you owe, what the minimum monthly payment is (or weekly if that’s how you operate), and list the interest rate if you can. 

Now from a pure finance advisory perspective – which by the way, I’m not giving you financial advice here – and from a number-crunching perspective, you would usually work on the one that has the highest interest rate first because it’s costing you the most.

But having said that, everything is energy. 

If there’s one that bothers you a whole lot more than the others, or if you’re really overwhelmed by the feeling of debt, and just getting rid of one little thing would help, then go for another one. 

Sometimes it actually helps to get rid of the one that you owe the least on because you can do that quickly.

So choose one. 

If you’re feeling okay, then definitely go with the one on the highest interest rate and watch that debt shrink into oblivion. 

Here’s how you do it: 

✔️ Find a little bit of extra money somewhere. 

You can look at things like whether you have magazine subscriptions that you don’t utilise, whether you subscribe to Spotify but in reality, it’s no big deal if there’s an odd ad. Or perhaps you spend a little bit more than you really need to on going out and grabbing a cup of coffee or lunch.

Just figure out if there’s something that isn’t necessary that you can save money on.

Ideally, that’s the best way to do it. 

✔️ Then put that money towards that debt.

Think of this as REPLACING expenses. Swapping something not very useful with something that’s very useful and is going to help you a lot. 

Put that amount of money – let’s say it’s $50 a week saved from removing unnecessary expenses – towards the debt you’ve decided on and keep doing that. 

✔️ Keep paying all the other ones at their minimum payments and just focus on THE one. 

Just focus on eliminating debt – but focus on ONE at a time.

✔️ When that one’s all paid off, do a little happy dance. Give yourself a treat that you’ve decided on in advance. 

Ideally, your reward should cost about the same as one of those debt payments.

So if you were making a payment of $200 and have now paid off that debt, then put one of those payments towards a special little reward for yourself.

✔️ Then after that, don’t just absorb that money and re-subscribe to the magazines and everything else. Use that extra money you’ve just freed up and choose the next debt to eliminate!

I call this tipping the buckets. 

You just want to then choose the next debt to eliminate. You’ve got that whole $200 now extra to put towards the next one. 

So again, choose it depending on what works best for you.

Pay off all of it. 

✔️ When you get that one completely gone, do the same thing. 

Treat yourself, celebrate, and then take the whole payment (so what you had on the very first one plus what you were paying on the second one, which you then stacked up) and then pay all of that towards the next one. 

What will actually happen is that it’s going to gather momentum really, really quickly. 

The first one will be the slowest. The second one goes faster, and from there, it just goes bang, bang, bang, the dominoes will drop. 

It’s a really cool technique. 

Celebrate, do lots of happy dances and really celebrate every time you eliminate a debt.

Remember: All is energy. All is vibration. You want to do the dance of abundance. 

And that is it.

See how simple eliminating debt can be – and how quickly it can happen once you get started & focus?

Let me know in the comments below if you’ve ever tried this & how it went!

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The easiest way to save money – even when money feels tight

The easiest way to save money – even when money feels tight

If you’re somebody who would LIKE to save some money, has been told they SHOULD save money, and thinks that it would be NICE to have some to spare, then this tip is for you – so stick around!  
 

I’m going to tell you an easy way to save money – even when you feel like you have none to spare.

 

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Here’s the thing, we all know that it’s really important to start saving some money and put it aside – whether it’s for investing or just for a buffer in case of emergency. 

And also to start creating some positive energy around money. 

But when you’re so broke that you just have nothing to spare… What do you do?

What’s an easy way to save money – something you can do even when you have barely any?

I’ll tell you what I did because I went through a stage where my total income for the year was $10,000, and my rent was $320 a week! 

If you do the maths, you can work out that that doesn’t actually stack up. 

To this day, I’m not quite sure how I got through it, but I did.. and this little tip helped a lot!

The bottom line is, I was broke and I was miserable. 

I was obsessed with how broke I was. It was all that was churning through my head, night and day. I was like a human calculator that couldn’t switch off. 

I realised that I needed to change. Not just my thinking and my energy, but also my habit pattern. 

I needed an easy way to save money.

I needed to get into a pattern of putting some money aside. And showing myself that I did have money to spare. 

I did a very simple thing, and you can do it too – no matter how broke you are.

Here it is:
When you go out to buy groceries or whatever it is, use cash. Use cash for everything, and only spend notes. 

What it’ll do is it will make you think twice about breaking that note. 

It also creates all this change which you can then save, and I promise you, you will not notice the difference. 

So I did this. I spent only notes, I kept all the change and I would bank it at the end of the month. 

The first month it was about $64 which was a fortune to me at that time. 

I had $64 to put into a dedicated savings account. It made me feel rich. 

This changed my energy around money. It changed my vibration around money, my thinking pattern around money and my habit pattern around money. 

This one little thing is so powerful – and you can do it too!

Let me know in the comments – have you ever tried this? What do you do to save when money feels tight?

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Become more magnetic to money with this practical tip

Become more magnetic to money with this practical tip

Today I want to share a really simple trick that will help you become more magnetic to money and put you in the driver’s seat when it comes to money. 

This will also help you feel more empowered around your money.

A lot of people track their income, and you might be one. 

But do you track your expenses?

And yes, I know that at the end of the financial year, you can look back at your expenses, or you can refer to your bank account, but do you actually track your spending as you go? 

 

What’s more, I would challenge you to not just do that, but to do it on PAPER, because THAT is what makes you more magnetic to money.

 

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When you track your spending on paper, you’re basically spending on paper, and it’s a really powerful thing. There is so much that comes out of it.

Here are a few reasons why this is totally worth your while doing:

The first reason for this is that when you actually have to write down every single thing you spend – and I’m not just talking business expenses, I’m talking personal expenses, coffees, lunches, magazines, that extra pair of earrings, that pair of shoes that you snuck past your husband and got rid of the box before he got home. I’m talking about all of that, right? 

When you have to write it down in your little pocket notebook, then you think twice about it. 

It makes you automatically self-correct in the actual act of spending – you make more deliberate choices in the day to day moments. 

So particularly if you’re somebody who’s a little bit impulsive or just whips out the card and uses the payWave function everywhere you go, then this is going to really make a difference. 

Because you know what? Even if you’re just lazy enough to get out the pocketbook afterwards – and that makes you spend a little bit less money – that’s a really good thing. 

The second reason why this is really powerful, is that you can then actually add that all up, project it for your annual expense on each individual item, and you can see, ‘How much do I spend each year on just the odd cup of coffee? How much do I spend each year on clothes? How much do I spend each year on entertainment? How much do I spend each year even on groceries?’ 

And then you can make some really empowering decisions and choices. 

Because I promise you that when you look at that and you look and see that you are spending the equivalent of $7,000 per year on just coffees and having your favourite Italian sweet – which some of us love – and it adds up to thousands a year, that’s going to make you sit back and think.

And then you can make some really empowering choices. You can actually say, ‘Okay, I still want to have that thing. I still want to enjoy that thing. But I’m not willing to pay that price for that pleasure and that joy. So here’s the price I am willing to pay for that pleasure and joy.’

And then you break it down, and you work out what your weekly budget is for all those extra beautiful little luxury things. 

When you do it like that, you’re coming from a place of power, not a place of lack. 

You’re taking control of your money. And you know what? Your money loves it when you take control of it. So when you take control of your money, it just feels good – you’re in control, you’re in charge, and when you run out of that little bit of extra pocket money for those special luxury items, you can actually sit back and go, ‘Cool. I know that I’ve hit my limit, I know that when I stop now, it actually gives me all this extra free available disposable income that I can use to pay off credit cards, to save for a holiday’ – to do anything you choose. 

By planning, you actually get to be excited. You get to be excited about what it is you’re doing with your money. And there’s a lot of power in that, not just from a practical level, but also from that magical vibrational level, because I’m all about blending and marrying the practical with the magical. 

This practical stuff is what makes you more magnetic to money.

And that’s when you can step into your power and you can straddle the best of both worlds. And it’s incredible, baby. 

So if you’d like a very helpful tool to help you with that, you’ll find it in the description below.

Until next time, stay happy!

The tracker is getting a facelift right now, so for the time being, I recommend you get stuck into my juicy Abundance Manifesting training:

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3 tips to help you build a savings buffer when you’re a Spender

3 tips to help you build a savings buffer when you’re a Spender

If you’re a Spender Money Habit Archetype, what that means is that all the money that tends to come into your life, quickly flows out again. 

You always end up back at square one. 

It’s always the feeling of living hand-to-mouth and it really has very little to do with the level of income that you have – it’s more to do with the PATTERN being that the money that comes in, all disappears again – it gets swallowed up by bills, unexpected expenses, all sorts of things.

Sometimes you’re not even quite sure exactly where it went except it seems to be gone!

So, when that’s happening it can be really hard for you to build up a savings buffer. That’s frustrating, and sometimes, scary.

The reason that it’s not happening, is because you building up and accumulating savings is not a match to the Spender Money Habit Archetype, and that pattern is being informed, fueled, and created by an underlying STORY, an underlying belief system that says, “Money can’t stick around here, it’s all got to go!” 

So what can you do about it so that you CAN start building up a savings buffer?

I’m going to give you three tips:

 

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Number one: First point of call is to figure out what that underlying story is and start to shift it.

I want you to think about this Money Habit Archetype pattern that’s showing up in your physical 3D reality as a clue, as the tip of an iceberg. 

It helps you figure out where this iceberg is, and once you’ve located it, you can work your way down into the deeper levels of your mind and into your unconscious and figure out what that story is underneath that’s creating this effect at the reality, 3D, visible, tangible level. 

What do you hold to be true at the unconscious level.. whether it’s good or true or not.. what is your unconscious story that you’ve taken on that is playing out in this way?

One of the quickest and easiest ways to do that, like I said, is by uncovering the Money Habit Archetype, putting your finger on it, and then working your way down. 

I have a quiz to help you do exactly that, the link to that is in the description. 

So, jump on that, do the quiz, confirm you are a Spender Money Habit Archetype and then I will send you a sequence of emails to help you uncover that story at the unconscious level so that you can untangle, disconnect it, and transform it to a much more helpful and empowering story. That is step number one.

Now, the second step you want to do is, you’ve got this ingrained long-standing habit, and what you want to do is you want to outsource as much of that as possible to a SYSTEM that will take it away from the spender in you and do the right thing with your money.

So something as simple as setting up an automated transfer of savings every single week – the more frequently the better – even if you do a dollar a day to begin with that’s fine, you won’t miss it. 

It just becomes this thing that fades into the background, but the trick is, send it to another bank where you can’t see the money, where you kind of forget all about it. Then, you only look at it every 6 months, or maybe you set a calendar reminder that you can check up on it quarterly.

Outsourcing the habit of accumulating savings to a system, means that it’s not up to you to constantly look at all this money, juggle what’s in your hands, and then have to put some aside. 

That is not in your nature, and that is not what you’ve been conditioned to do. 

So OUTSOURCE that and make it as remote and removed from you as possible. Give the money to your mum if you must, whatever it takes!

The third tip that I want to give you, is you need to set up some rules and make it really hard for you to get at that money.

Rules like: there is no ATM card for that account and there is no easy internet access to access that account.

You want to take away the temptation of dipping into that money. 

You can do things like put a second signatory on the account, so someone else needs to sign for you to even get to that money, or even put it in someone else’s name… but if it’s going to be a significant amount of savings then be careful because if you want to then maybe use that as a deposit to buy a home, you could have trouble proving that’s your own savings, so just keep that in mind. 

Or make it even easier, just give someone else the password!

Get somebody else to have your internet password and change it – somebody you trust obviously – and then that means that if you need to look at that money or want to access that money, you’re going to need to give them a really good reason which you will set out for them beforehand.

For example, “If I come to you and this and this and this is what’s happening, then you give me the password so I can access the money. If I don’t give you a good enough reason, or you don’t quite believe my reason, then you don’t give me the password.” 

So you have to have a really good relationship with this person, but I know you have someone like this in your life. What you can do is ask them to just kind of check in with you, and give you those status updates and say, “Yep, it’s up to this amount,” so you don’t even have to go check how much money is in there.

So set up the rules and make it hard for you to get to it. 

As much out of sight out of mind as possible. Outsource the actual habit to the system and then remove yourself as much as possible so you can’t give in to temptation.

Before you know it, that will become a new habit and it’s just what’s going on. You won’t even think about it anymore.

So, shifting the habit pattern, this practical stuff I’m talking about, what it’s going to do for you is that, to your mind, to your unconscious mind, that’s actually a change to the old story. 

It’s actually proof that the old story may not be true, which helps you shift it. 

If at the same time you’re doing what I suggested, do the quiz and follow the guidelines I give you from there on to start to untangle and change that old story, then you’re coming at it from both angles.

Between the two, that is how you fast-track and how you start to really shift that pattern so that you can start building up that savings buffer even though your Money Habit Archetype is that of a Spender.

It does not need to mean you can’t do that for yourself.

So, make sure you start with the quiz & have an amazingly, wonderfully, transformative time with this. 

I’d love to hear your stories and how you’re going! Maybe bookmark this post and put it in your calendar for 12 months time and then come back and tell me how much money you’ve accumulated and let’s celebrate!

Until then, make sure you keep on embracing your beautiful and unlimited potential.

READY TO GO DEEPER?

Take the Money Habit Archetype Quiz so you can clear your biggest money block.

Why there’s no money left after you pay the bills

Why there’s no money left after you pay the bills

Hi beautiful,

I’m Miriam Castilla and welcome to the Manifesting Playground for Soulful Women in Business – the place where we practice the art & science of Effectology to help you marry the magical with the practical so you can have more money and more time, the easy way – without all the extra hustle!

Today we’re going to talk about what is going on when week after week, month after month there is no money left for you after you’ve paid the bills. It’s frustrating, right? And it’s annoying and it’s also a bit scary.

So what is going on there?

Well, I’m going to cut straight to the chase and tell you what’s going on and that is that you’ve got the formula backwards.

WATCH THE VIDEO:

OR LISTEN TO THE AUDIO:

OR READ THE TRANSCRIPT:

Let me explain – there’s a phenomenon called Parkinson’s Law and it applies to all sorts of things and it also applies to money. And what Parkinson’s Law says is that, “The amount of resource needed to accomplish something is the amount of resource available.” I’ll rephrase that, “the amount of resource used to accomplish any given task is the amount of resource available.”

And see how that is a bit different to the first time I said it and had to correct?

Because that is the whole point of Parkinson’s Law that whatever amount of money is available gets used up and this also applies to time, if you’ve got lots of time to get something done – you usually get it done at the last minute. But for money it means, that all your money gets used up unless you switch that formula backwards because what most people do is they take their income and they deduct all of their expenses, all of the things they have to pay for, all of the things they want to buy and do and so on..

And then they go, okay I’ll save what’s left and what’s left usually is zip, zero, zilch, nada! Right?

Because Parkinson’s Law applies and it means that all of that beautiful money that came in whether it was a little, a lot, huge amount it all got used up. So you need to switch that formula around the other way and actually decide where your money is going to go.

So what you then actually do is you say, ‘okay my expenses plus my savings need to equal my income.’ And it’s the same formula but just backwards. What that actually means is that then you have 2 input variables there: expenses and savings. And you’re going to have to make some decisions as to what those should be and then you also get to look at the other side of the equation: ‘Hmm how much many do I need to be making to actually meet this target?’ And if the amount of money you’re making right now isn’t enough, it means that you might need to look at reducing your expenses or maybe reducing your savings for a little while or maybe increasing your income and looking at ways that you can do that… but it actually puts you in control. And that is the point, the way that most people do it is the first way – you’re not in control you just get the leftovers which is usually zip. This way, you take control, you start to make decisions.

Now if you’re ready to start taking control of your money so you can actually have left over what you want to have leftover to do the things that you really want to do with that money, then start the easy way which is just by paying attention.

It’s a super easy way to start paying attention to your money which will illuminate you in some many ways, you’ll have so many huge a-ha moments. Simply start tracking – start tracking what’s coming in and also notice what’s going out and start making some empowering decisions – because you’ll find that there’s money just leaking out to all sorts of things that you’ve forgotten about, you stopped paying attention to and it feels really great to actually reel all of that back in and to reclaim that money. That is your money disappearing because you stopped paying attention so start paying attention!

I’ve got a beautiful magnetic money tracker for you which you can access from the link in the description – so help yourself to that. Get started today, start taking control of your money so that you will have left what you would want to have left, to do the things you want to do.

Alright, until next time. Remember to keep on embracing your beautiful unlimited potential.

Bye for now!

READY TO GO DEEPER?

If you want to ensure there’s always plenty of money available for the things you love, start by downloading the free Magnetic Money Tracker.