Money Management
What is your relationship with money? What do you think about it? Do you even know how much you have or debt you have? Most of use are pretty clueless about money.
Money management
We know we need it in order to survive and to buy nice things. Yet we don’t manage our money properly. I am about to share a few tips on how you can manage your money.
Firstly figure out how much you have, what is in your bank account, in your savings and investments. Then you figure out how much debt you have, this may surprise you. I suggest you do this on a monthly basis. It is not a budget, just an asset and liability sheet. This way at a glance you actually know what is going on with your finances. What thoughts come up for you when you see the numbers?
Remember this number is totally neutral, whether you have more in your bank account or whether your debts are way more than you thought. This is just a number. Now what are you going to do with it? If your assets out way your debt, you are on the right path, but if not you have some soul searching to do.
Debt is neither good nor bad.
Say for example you took out a bond to buy your house, you may like the idea of that debt since it provides a roof over your head. The same may go for purchasing a car on debt, you may absolutely love your reason for borrowing the money. If you maxed out your credit card to buy clothes or go away on holiday, you may not like that reason very much and decide to reduce that debt. On the other hand you may say it is worth every penny. So you get to decide if you like the reason behind the debt.
One thing to look at as well, is how much that money is costing you. By this I mean, you borrow money from the bank and for that privilege you pay a certain amount in interest. So if you borrow a R1000 you will most probably pay a percentage back to the bank, so the R1000 will cost you say R1100 depending on your interest rate. Is this amount worth it for you?
Let’s get back to your relationship with money.
Most of us don’t want it to be the most important thing to us, and mostly it is. We get to buy the things we enjoy, a roof over our heads, electricity (which seems to be slightly scarce at the moment), food, petrol for our cars. And we can also just enjoy having money in the bank. So do you just like having money or what money can buy you?
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Money as a person
Imagine your money as a person, if you treat is poorly it will do the same to you. If you say it doesn’t matter, it ain’t going to hang around you. You need to treat your money with love and respect. It also doesn’t like to be hoarded, imagine locking your loved one in a room, it is going to find a way to escape.
There is an age all story, that if you give money away, it will come back to you in more ways than one. Most of the wealthiest people you know give money away, whether to a charity, to those in need, or provide needed services. You may say that you have too little to give away and that is so not true. The amount you give away does not have to be great, it is the act of giving and the kindness behind it, that deepens the soul.
Be successful
We, as women, are often made to believe that we cannot make and have our own money and lots of it. Of course we can, there are millions of women that do. Why do we think we are different? We are all capable and clever. What are you going to do to increase your wealth? If you want to increase your wealth you are going to have to think like and be a person who has great wealth. Create that feeling of abundance within yourself now. Read books on your mindset around money and speak to people who have done what you want to do. If no one has done it, create one and document it so that others may follow. You can do this!
If you need any help with creating a wealthy mindset, reach out to me on hello@lliautism.net
PS Come check out my Day One Program, I help you create the life of your dreams, out of the space of “I don’t know” and into “What’s next?”.
Click HERE to learn more.
Have a fabulous week.
A
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