Did anyone ever teach you how to manage money wisely when you were growing up?
And I mean, someone showing you how to manage your money so it actually goes to work for you.
So it grows and multiplies.
Knowing how to manage money wisely is the key to developing money confidence – and that is what helps you attract plenty more!
So today, I’m going to share my top 3 tips to help you manage your money wisely – that also make you magnetic to more.
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In my 13 years operating my finance business, I dealt with people from all walks of life and on all different levels of income.
And there was one really, really important thing I noticed.
And that is that more money & more income did not change their money patterns one little bit!
People who were in the habit of spending every dollar would do that, whether they were on a 5-figure income or on a multiple 6-figure income.
They would do that when they had lump sums of money and inheritances come in – and when they didn’t.
On the other hand, people who were in the habit of always putting some money aside, they did it regardless of what income and bonus money came in.
This is a super important point to note:
More money does NOT change the pattern!
So the real work is to ensure your money patterns and habits are healthy ones that support you financially – that move you forward and help you reach and achieve your goals.
For most people, nobody showed us how to take care of our money. Personal money management isn’t taught in schools. And most of our parents have no idea either. They’re just winging it and making it up as they go along.
And so what that means is that we don’t have the confidence around money that comes from knowing that you’re on the right path.
And that creates MASSIVE vibrational wobbles.
It creates a lack of certainty, fear and vibration of worry within you. And that is not at all conducive to attracting plenty more because when you’re worried that you won’t know what to do with your money when it comes – and you’re beating yourself up for having done all the wrong things in the past – that creates a vibrational block that doesn’t allow more to flow.
Plus, we’re passed down generational patterns and fears around money from our parents.
You know, all those silly things people say like, Oh, money, doesn’t grow on trees – Who do you think I am, Rockefeller? or, I’m not made of money, you know!
My parents said those things too. They program us with those sayings, with those systemic belief systems. And so they’re passed down through the generations.
We see our parents struggle – we see their money issues and all of that is passed down.
So if we want to break the cycle and break the pattern, we need to do it consciously.
We need to break the cycle and start by actually educating ourselves on how to take care of our money properly.
You need to learn how to manage money wisely.
Because once you build money confidence, and you get a money management system in place that actually works for you – one you’re really excited about because it’s helping you move forward and achieve your goals – that makes you magnetic.
It gets you excited about bringing money into your life because you’ve got the system all set up to put it to work for you – and to help it grow and multiply – so that you can keep moving forward in leaps and bounds.
So the key to becoming more magnetic to money and breaking down a lot of the money blocks and the barriers, is to get confident about managing your money. You need to sit down and do the practical work and set up a money system that really works.
I’d love to know. Did anyone teach you how to manage money as you were growing up? And I’d love you to share with me in the comments what the best piece of money advice you’ve ever received is.
Okay. It’s time for those top 3 tips to help you manage your money wisely so you become magnetic to more.
Are you ready?
Tip #1: Make compound interest work for you, not against you.
So compound interest was called the 8th wonder of the world by none other than Albert Einstein, because it has an incredibly powerful effect.
Compound interest is when you have interest earning interest and then the interest on the interest is earning interest. And then the interest on the interest on the interest is earning interest… and so on.
I have a term for that. I call it ‘Making money babies’, because it’s like a family tree. You start out with a few dollars and when you let that effect of compound interest build and grow, it’s like a family tree sprouting, growing and expanding.
So this is where your money is working for you to make more money. Pretty cool, huh?
See, there are two ways to make money, people working and money working. And that’s what compound interest is all about.
So you want to make it work for you, not against you.
You probably have things like credit cards and other debts that have interest attached to them. If you’re not getting on top of that, then compound interest is working against you. You’re literally making debt babies (gah!!!).
So you need to turn the tide and get on top of that and switch that focus around to making compound interest work for you. You do that by investing in things that grow – things like shares and property – anything that has a return on your money that you can reinvest to get a return on the return.
That effect is really, really powerful.
So tip number 1: Start thinking about compound interest and focus on turning the tide from having it working against you to having it working for you.
Tip #2: Give every dollar a job to do.
Most people throw all their money into one big bucket.
Then they pay the bills… and oops, the kids need school shoes… and let’s get some groceries… let’s go out for dinner tonight… oh there’s another bill to pay.
And they don’t know what’s what. And so when it gets to the end of the month, they start to look at that pot of money and think, “Ooh, it’s not going to be enough!”
The problem is that you haven’t given those dollars their individual jobs to do. You’ve just thrown them all in there and started randomly pick at them, hoping that there’ll be enough money to cover everything.
When you give every dollar a job to do, assign different jobs to different pools of money and you give them their own workspace, which means you separate them.
And then you know that THIS is my fun money. This is the money for us to go out for dinner, to have a massage, for that new pair of earrings etc.
And THIS is the money whose job it is to pay the regular household bills.
And then THIS is the money whose job it is to work on that compound interest equation and turn the tide from having it working against me, to having it working for me.
So every dollar gets a job to do and a place to do it.
And that gives you peace of mind, knowing that you’re not robbing Peter to pay Paul. You don’t have to worry that at the end of the month, you’re suddenly going to be left short when a bill comes in.
So every dollar gets a job to do. That’s the very important tip number 2.
Tip #3: Always have ONE current financial priority.
At any stage in life, you should know what your number one financial priority is. And you should put as much focus on it as possible.
This priority will be different for different people at different stages in life. It usually revolves around that wealth creation pool of money, where the compound interest equation is being swung from one side to the other.
So for example, you might be at a stage where your number one financial priority is to get rid of that credit card. So you want to focus on that and be really clear on that being your priority.
All spare money goes towards that.
This ensures you’re not spraying your spare money around, putting a little bit here and a little bit there – because that gets you nowhere fast. When you know that your number one financial priority, every spare dollar goes there.
And guess what that creates? It creates focus. It creates momentum. It makes Law of Attraction kick in and send you even more money to put towards paying that one thing off or building that investment portfolio or your wealth buffer – whichever is your priority.
It allows you to attract more money towards that focus because it gets you excited about every dollar that comes in that you can put towards that priority.
The momentum builds, the energy builds, the excitement builds and Law of Attraction, and the Universe will keep sending you more and more money, which allows it to happen even faster.
That is how you quickly turn the tide from having compound interest working against you to having it working for you.
So that is tip number 3. Always have one financial priority at a time and be crystal clear on what it is.
There you have it.
Those are my top three tips for managing your money wisely, so you become magnetic to more.
Now don’t go just yet, because I want you to keep an eye out for a future video, where I will share my five golden rules for setting up your money management system so it actually works for you (and so you actually use it)
In the meantime, be sure to jump on my free masterclass. The link is below.
In that masterclass, I show you how to completely transform your relationship with money and become magnetic to more.
Embracing your unlimited potential is all up to you, and it starts by taking confident control of your money. It’s a huge step on the journey.
Ready to go deeper?
FREE LIVE WORKSHOP
Organize & Tidy Your Banking
‘Spark the joy’ of becoming magnetic – for women entrepreneurs.
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