CLARITY is priceless whether you consider your authentic career path, your relationships or your money. There are a lot of courses about finding your authentic self – expression and living your purpose. Very important, indeed! But your money management aptitude is also very important and requires clarity and purpose as well!
From my many observations, managing money tends to be easier when you have a certain PURPOSE in mind: Saving for your first house or a car, becoming financially independent or retiring at a certain age, a child’s college education or your own financial education training, a trip to Europe or even attending a concert of your favorite band!
The important thing is to be clear, specific and inspired by the purpose.
You are a spiritual being and succeeding at the Money Game is part of your physical experience. Like with everything else, you may go through rough times and good times with your finances.
Having the skills to help you navigate through the stormy and calm waters of your financial sea is very useful whether you’re already making 6 – 7 figures per year or still on your way there!
Becoming an effective money manager of your own money is a skillset that you can attain!
Do you spend your money wisely?
Do you invest your money strategically?
Do you leverage your money so that the money you already have works for you when you are not working?
These are questions you may ponder on…
Effective money management is a skill that you can learn like any other. Although it’s not rocket science, it requires discipline and a responsible attitude.
If you want to change your money habits, you need to replace them with better ones and practice them consistently. That’s why I like the notion of organizing your money according to its PURPOSE.
And there are other factors you may want to include when you’re organizing your money – your VALUES and PRIORITIES.
For example, if your core value is to have more choices and freedom AND you want to become financially free even before your retirement age, you would prioritize saving and investing vs having a new car every couple of years, or spending thousands on yearly exotic vacations and designer clothes.
Knowing your values and priorities will help you make better financial decisions.
To develop a sound financial plan, it’s helpful to have your financial goals aligned with your values AND have a time frame and a dollar amount.
For example, if you want to become financially independent by a certain time, it’s very helpful to know what monthly amount will cover all your potential financial needs. I call it your “Financial Freedom Number” that my clients calculate during my “Become Financially Savvy” training.
Once you have listed and quantified your financial goals, you need to prioritize them. You may find, for example, that saving for a new home is more important than buying a new car.
Whatever your objectives may be, be clear and specific about purpose for your money.
Figure out how many weeks or months there are between now and when you want to reach your financial objective. Divide the estimated investment required by the number of weeks or months. That’s how much you’ll need to save each week or month to have enough money set aside.
Remember, a goal is a dream with a deadline.
To Your Health, Wealth and Freedom!
P.S. If you are dissatisfied with your current financial situation, feel that you are not where you’d like to be, financially, at this phase in your life, and want to experience more ease and peace of mind about your financial future, come to the wealth retreat I offer in June in the South of France.
Millen is a Wealth architect and Financial Independence Coach, entrepreneur, and a bestselling author. Being a Possibilities' Catalyst, she uses her intuition, business, and investment expertise to support entrepreneurial women (like you) who want to master their money, live their purpose achieve financial prosperity and freedom. With her physics and business education, corporate and entrepreneurial experience, money management know-how, mindfulness practices and transformational coaching skills, Millen has a unique ability to guide and support clients in achieving extraordinary success in their lives.