3 Things to Makeover Your Money
When I started living on my own, money felt scary. I thought to myself often, “How am I going to afford the mortgage, groceries and gas money, let alone any of the other bills?” I would go to work, pay the bills and still felt stressed and anxious about the amount coming in and the money going out. I know that I am not alone in this feeling. My coaching client, Kay was experiencing the same thing when I worked with her. Her and her husband had a house full of kids, one of them was self-employed, and they were living paycheck to paycheck. She was having a hard time getting on the same page as her spouse and getting him to understand the stress that money (or the lack thereof) was putting on her and their marriage. She came to me ready for change and willing to do whatever it took to be able to sleep at night and breathe without thinking about the bills all the time. Through coaching we got her to a place of confidence and clarity with her money, and it took away that fear, stress and anxiety. She was finally able to have open and honest conversations with her spouse, and they started making big money decisions together. She went from stressed to success. Coaching is my favorite part of my business. I love getting to work 1:1 with a person and help them start to create wealth and know their worth. Coaching takes time and investment in yourself. It is a transformational journey, and I feel honored to get to guide and empower women on that path to success. If you are ready to take that first step on your journey, go set up a discovery call with me right now!
If you are looking for 3 things to makeover your money quick, here are my tips.
1) Start with your mindset. Whether or not you know it, how you spend money is a direct reflection of your mindset about your money. When we are growing up, we hear other people’s opinions about money and we see how our parents, friends, and mentors use and feel about their money. These opinions, feelings, and behaviors become a part of how you handle your personal finances. Your mindset may be similar or different than how those people handled it, but how you handle money is based on what you thought about how they were interacting with money or the topic of money at that time. If you saw your mom go shopping to lift her mood, and it was a fun outing for you both, your brain may have registered that spending money makes us feel good and developed the same coping skill and enjoy spending. However, if your dad yelled at your mom every time, she went spending money and she had buyer remorse after large spending sprees, your brain might have went the other direction and started to believe that spending is bad and you are not allowed to spend money on yourself. Unless you are spending time looking at your mindset most of us don’t think about the stories that form our beliefs about the world or our mindsets. Look at your money mindset and get curious about how and why you spend, save and give the way you do.
2) Look at your monthly money. This doesn’t have to be an in-depth budget or a deep dive into where your money is all going. Just keep it simple and look at:
What’s coming in
What’s going out
What’s leaking money
What’s stealing peace
If there are places that money is leaking stop the leak! This could be subscriptions you aren’t using. Are you buying from Amazon more than you would like? Is someone calling UberEATS instead of just going to pick it up themselves? There are almost unlimited ways money could be leaking out of your account without you realizing it. So, if you see a leak stop it. If there is something stealing your peace you need to reclaim that peace. When I had student loan debt, car loan debt, and credit card debt it was stealing my peace. So, I eliminated the debt and found peace in having more cash in my bank when those payments stopped going out. Your peace might be getting stolen from something else. I know someone whose financial peace is being stolen by having to make payments on a DWI they got. Someone else is paying for lawyer fees from a painful divorce. Yet another person is losing sleep at night over the cost of groceries. Whatever it is that is stealing your peace think creatively about how you can eliminate that from your life or like with the groceries reduce the cost.
3) Create healthy money habits. If you are already doing some of these that is great, but just in case:
Check your bank account daily and track your transactions to your budget categories,
Meal planning can really help with the expense of groceries and keep that line item in check.
Paying bills on time to avoid any late fees.
Automating savings so that you are investing for your future goals.
Have money conversations instead of avoiding them, either with your partner, accountability person or a coach.
Your money does not have to be scary and cause you stress. Give it a makeover today and see the progress you will make. If you are ready to transform how you handle money book a discovery call with me today.
Tiffany