Dare to Change Life Coaching & Mentoring

Tag: money mentality

Your Big Badass Dream Plane & THREE Levers to Upgrade Your Financial Life

What would it take for you to feel wealthy?

How many millions?

Or maybe just having “more than enough”?How many homes/yachts/planes?Or maybe just having more choices?How many children/husbands/lovers? (OK, this topic is for anothertime/place… LOL)Or maybe just having more free time, working less?Obviously, being wealthy means different things to different people…And it’s great to have Audacious BIG Badass Dreams.And my question to you is: “Are you actually ready to bring your currentfinances into harmony with your BIG Badass Dreams?”Because dreaming BIG is great! However, in order to take this BIG BadassDream plane off the ground, you’ve got to get very clear about it (is it REALLYworth the efforts?), then map your way forward and learn to pilot it, so youcreate the momentum.Because if you don’t… well, let’s stay positive here.So, what is your “BIG Badass Dream” plane?What do you REALLY want for yourself and your loved ones?

Can you describe it as if you were living it in the present moment?What do you do, what do you feel and see, where do you live, who are youwith?Make time and space for yourself to “normalize” your Big Badass Dream –make it SO NORMAL that you start embodying this dream!Then you can get to map your way forward.How do you map your way forward?By mapping your money according to your desired level of financial fitnessand using three cash flow levers to accomplish your desired results.Money Mapping is about discerning what’s REALLY important to you in life(and this may change as you go through different phases in life) and thendesigning your lifestyle so that it supports your values and your BIG dream.Money Mapping is Budgeting 2.0, because it’s NOT just about counting everypenny you spend on groceries. That’s tedious and unnecessary for mostpeople.Money Mapping is about you focusing on your BIG Badass Dream, translating itinto numbers, then reverse-engineering it into the money map so that yourlifestyle and choices are coherent with your goals.In my programs, I talk about 4 stages of Financial Fitness:1. Less than enough2. Just enough3. More than enough4. AffluenceYOU DECIDE what financial fitness level is next for you. THAT will determineyour spending patterns, your saving patterns and your investing patterns.That’s what the money mapping is for.

My clients come to me at different levels of financial fitness spectrum and withvery different ambitions. And they ALL evolve to much higher but differentfinancial fitness levels. Because they have different definitions of “wealth.”That’s why I asked you at the beginning “What would it take for you to feelwealthy?” Your answer will determine your specific money map.In other words, your answer to this question (which only YOU know theanswer to), will guide your choices and financial decisions.For example, you may have a BASIC money map (to track your money, youcan use an Excel spreadsheet or an app) that reflects just basic needs(groceries, rent, utilities) and paying off debt. This may support a simplelifestyle, living debt-free, in a rural area, and have less pressure…Then you can create another COMFORTABLE money map that will includesome comfort items like massage, mani & padi, trips, restaurants, privatecoaching, etc.Finally, you can create another AFFLUENT money map that will cover allyour intentions and desires – from millions in the bank, to having a personalchef, jet-setting to French Riviera, and having vacation homes in resort-likelocations.Having these money maps will help you “land” your BIG BADASS DREAMplane with concrete numbers that will back it up, support your desired lifestyle.Finally, the time for the HOW question. What levers do you have to controlyour cash flow and upgrade your financial fitness?I invite you to consider these THREE levers to control your cash flow:1. Income2. Budget (pattern of spending)3. DebtAnd here are THREE ways that you can use to improve your cash flow:1. Identify your current ‘financial leaks” and make necessary adjustments.2. Brainstorm and uncover additional long-term sources of in-coming cash.3. Brainstorm and uncover immediate prospects for incoming cash flow.In summary: You Big Badass Dream can be your reality. Being FinancialIndependent is NOT a pipe dream. You’ve got to get your money map inplace, get strategic about your choices and get this plane onto the runway,ready to take off.

With love, health and wealth

P.S. If you feel sick and tired of being restricted by money, feeling worryingabout your retirement, anxious about investing – let’s connect! Here’s the linkto schedule a complimentary Money Breakthrough session with Millen.What do you have to lose? Fear, money anxiety, indecisiveness. What youcan gain? Clarity, direction, specific strategies and concrete steps to moveforward.

April 27, 2019
7 Steps to Regain Control Over Your Money: Step #7 – Be strategic with your money

You work hard for your money – whether you are an employee or a business owner – you want to make more money. Right?

Well, how about managing your money strategically so that your money works for you and your family?!

That’s what Step 7 is about – BEING STRATEGIC with your money!

Here are some aspects of being strategic:

1. Diversify your investments to maximize your results.

If you want to be a good investor you’ve got to know how to manage risk because ANY investment entails risk.

And diversification is one of the most important risk strategies.

When it comes to managing risk to maximize your return, it pays to diversify.

First, you can diversify among the four major asset classes: cash, stocks, bonds and real estate.

Once you decide on the amounts to allocate to these four main investment classes, it is important to diversify within each asset.

This means buying multiple stocks within a variety of industries, holding bonds of varying maturities, having different real estate properties in different locations.

In other words, don’t put all your golden eggs in one basket.

Also, don’t make the mistake of putting most or all of your money in “safe” investments like savings accounts, CDs and money market funds.

Over the long term, inflation and taxes will “eat up” the purchasing power of your money in these “safe investments”.

All investments involve some trade-off between risk and return.

Diversification reduces unnecessary risk by spreading your money among a variety of investments.

Besides diversification, the single most effective investment strategy is to invest continuously over time, with a long-term perspective.

2. Grow your money by taking advantage Of tax-deferred Investments.

If your employer has a tax-deferred investment plan like a 401(k) or 403(b), use it!

Often, employers will match your investment.

And even if they don’t, no taxes are due on your contributions or earnings until you retire and begin withdrawing the funds.

Tax-deferred savings mean that your investments can grow much faster than they would otherwise.

The same logic applies to IRAs, although the maximum amount you can invest annually in an IRA is substantially less than what you can put in a 401(k) or 403(b).

3. Use the protection provided by insurance

It’s wise to protect yourself, your family and your money by having an adequate insurance coverage.

A major lawsuit, unexpected illness or accident can be financially devastating if you lack proper insurance.

The key to insurance is to cover only financial losses so large that you could not cope with them and remain financially fit.

If someone is dependent on your income, you must have adequate life insurance.

Long-term disability coverage is important as long as you need employment income.

Also, be sure to carry adequate liability coverage on your home and auto policies.

To save on annual premiums, you may choose to raise your insurance deductible.

And whenever you purchase insurance – life, home, disability, or auto – be sure to shop around, and buy only from a reputable firm that has a history of being solvent and paying insurance claims.

4. Plan your financial legacy

You want to have a will to ensure that your funds, property and personal items will be distributed according to your wishes.

A will is a legal document that ensures that your assets will be given to family members or other beneficiaries you choose.

Having a will is especially important if you have young children because it gives you the opportunity to assign a guardian for them in the event of your death.

Although wills are simple to create, about half of all Americans die without a will.

With no will to indicate your wishes, the court steps in and distributes your funds and property according to the laws of your state.

To prepare a will, take an inventory of your assets, outline your objectives and determine to which friends and family you wish to pass your possessions to.

Then, when drafting a will, be sure to include a name of a guardian for your children, name of an executor, and an alternate beneficiary.

Once your will is drafted, you won’t have to think about it again unless your wishes or your financial situation change substantially.

And that’s a wrap for the mini-class series “7 Steps to Regain Control Over Your Money.”

Share your insights and questions in the comments!

To your Health, Wealth and Freedom

P.S. Join me for a game-changing training – Financial Freedom Game Plan Masterclass. No credit card required! Reserve your spot HERE:

http://daretochangelife.com/financial-freedom-gameplan/

April 13, 2019
7 Steps to Regain Control Over Your Money: Step #5 – Pay Yourself First

In step #4 we talked about tracking your money, remember?

If you don’t know where your money goes, if you don’t have ANY mechanism (call it budget, call it a money tracker, call it whatever) – you don’t have control over your money. Money controls you!

You may feel that you have to make more and more money to live.

Yes?

What if you could spend less so you won’t need to work more to make more?

And if you feel that you’ve already trimmed your budget to the bare minimum, then it’s possible that it’s time to look for an additional source of income.

Ok, that was a quick reminder of key #4 – Track Your Money

Now the next, step #5, is to Pay Yourself First.

There’re THREE Aspects in this step:

1. Pay Yourself First

So, once you figure out how you can better control your optional spending, your unnecessary expenses (your “wants”), the next important money habit to develop is to pay yourself before you pay anyone else!

For many people, a good way to start saving regularly is to have a small amount transferred automatically from paycheck to a savings account.

In other words, have some savings automatically set aside!

If you don’t see it, you don’t miss it.

How much can you set aside?

The common suggestion is between 5 and 10 percent of your gross annual income.

Of course, this can be much harder than it sounds.

So, if you’re currently living paycheck to paycheck without clear opportunity to increase your income in the near future, begin by paying yourself with WHAT YOU CAN now. It could be one percent of your income, or $20, $50, $100.

ANYTHING is better than nothing. Train yourself to allocate consistent contributions toward your savings. That’s the goal here.

The next question: what is the purpose of these savings?

Here are a couple of suggestions:

2. Maintain an Emergency or “Peace of Mind Fund”

Before you commit your newfound savings to ANY investments (ALL investments involve risk), make sure you have at least three to six months’ worth of your lifestyle expenses saved in an emergency (aka peace of mind) fund.

Life happens to all of us; cars need repairs, houses need maintenance, medical emergencies, or other unforeseen circumstances.

Keeping your emergency fund liquid will ensure that you don’t have to panic and sell your investments when their prices are down, and guarantees that you can always get to your money quickly.

If you have trouble deciding how much you need to keep on hand, begin by considering the standard expenses you have in a month.

If you have dependents (e.g. kids, parents, etc.), you’ll want to keep more money in your emergency fund to offset the greater risk.

Once you fill your emergency fund, you can redirect money to your investments.

3. Give yourself an allowance

Here’s the fun part. Once you get to the point that your basic expenses and savings needs are met, you can decide how much money you want to spend guilt-free on anything you want (like shopping, eating out or entertainment).

You and your spouse can have that amount in cash each month but when the money runs out, it’s gone until the following month.

Anything you don’t spend can be carried over.

This may add some fun and money flexibility into your relationship because neither of you can question how the other spends their allowance.

Leave a comment and let me know what resonated with you and what you want to implement into your life right away.

To your Health, Wealth, and Freedom!

For more resources on various financial topics, check this page on my website:

WORK WITH MILLEN

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February 14, 2019
7 Steps to Regain Control Over Your Money: Step #2 – Have Clarity and Purpose for Your Money, Know Your Priorities and Values

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.

CLICK HERE to get specific information about this 4-day private Wealth Retreat

January 25, 2019
This ONE Thing Could Literally Change Your Life

So, the 2018 is officially over with all the successes, challenges, breakdowns, breakthroughs, changes, and transformations.

It’s a NEW YEAR, a NEW AGE and a NEW PARADIGM!

And as I heard from one spiritual guru recently, the energy of this year is “Seize the day.”

In other words, when opportunity knocks, welcome it and run with it. And if challenges get on your path – don’t panic or curse your luck. Find a way to perceive them as…opportunities in motion. Opportunities to learn, grow, and expand.

This week, I had a privilege to speak to an amazing beautiful 94 years young woman. She has this special spark and charm that is hard to describe in words… One might guess that her life was easy, joyful and fun. Yet it was anything but easy…

During the WWII, she lived under Nazi’s occupation in Lithuania, escaped, became a refugee and lived in different countries before coming to America; was divorced, remarried, then lost her second husband to cancer…

She raised two wonderful daughters as a single mom, learned how to master her money, became an investor, achieved financial independence, and became an amazing painter after leaving her professional career as a chemist.

Her house looks like an art museum… Her many paintings reflect her rocky life journey.

So, I asked her if she could distill all her experiences and wisdom into ONE thing that really matters… ONE thing that helped her overcome enormous obstacles and go through many personal challenges…what would it be?

She looked at me, smiled and said: “The only thing that truly matters is whether you’re happy inside despite your life situations…” Then added softly “I am happy inside.”

“All the time?!”- I asked with some sense of astonishment in my voice.

“NO”, she responded. “Not all the time! About 95% of the time.”

I smiled…

Can it really be THAT simple?

Yes, I believe it can. And it’s a matter of choice.

Today you can choose to focus on problems, react to challenges in your life, compare yourself, and feel powerless and unlucky…

OR

You can choose to focus on solutions, on what “works” in your life.

You can choose to believe that you can do anything.

You can choose to release what no longer serves you.

You can choose to accept your current life situation and thrive for better.

You can choose to love yourself just the way you are, without any need to prove anything to anyone.

You can choose to better yourself and your life through new knowledge and expanded awareness.

You can choose a new way of being.

It does not happen overnight.

It does not happen because it is a New Year.

It happens because you consciously choose every day what you give your attention to, what thoughts you allow to dominate, what words you use, what habits you practice, what boundaries you establish, and how you re-calibrate your feelings.

Be kind and loving to YOU. At least 95% of the time. LOL!

That’s my intention for 2019 in addition to helping as many women as I can to master their money and experience more EASE, PEACE and FREEDOM.

And that’s why I have a question for you.

If you could sit down with me for a cup of coffee, what would YOU want to ask me? What top one or two questions you’d like to ask me?

Just message me or write in the comments below your questions.

To your Health, Wealth and Freedom!

P.S. I’m serious! Go ahead and message me or write in the comments below your questions. What would you ask me?

January 3, 2019
Essential #5 for Creating Wealth and Success
Do you believe that the most authentic way to create wealth in your life is by helping other people have more of what they want?

I like the expression “authentic money”. That’s the money you make by authentic self-expression, by “doing” you. LOL

That’s the wealth you create by being authentically you – using your natural talents, skills, and experiences while making a difference in others’ lives.

And that’s the Essential #5 for Creating Wealth and Success:

Make a Difference, Enrich the Lives of Others.

People who offer value
- by solving or helping solve work / health / relationship / career / financial problems, or
- by helping others achieve their goals faster and easier, or
- by helping people feel good about themselves and their lives
get rewarded for enriching the lives of others.

Would you agree?

Names that come to mind are Steve Jobs, Oprah Winfrey, Tony Robbins…

So, it is really important to become aware of the kind of problems you can help people solve…or joyful / fun experiences you can help them have.

I love the quote by Neale Donald Walsch: “Your job is to help others get to where you are. Why do you suppose you know the terrain so well?”

People are willing to pay for enriching their lives – reducing/removing painful experiences, or having more joy and fun in their lives.

Also, I believe that you’ve got to be willing to GIVE first, BEFORE you start RECEIVING.

There are two extreme categories of people who offer services.

The first extreme group is the “Eternal Givers”. These people give, and give, and give….

They are afraid to over-charge, they are worried that nobody will buy from them because it might be “too expensive” for others, so they often charge NOTHING or waaaay below the offered value.

The Eternal Givers undervalue their services immensely and do a real disservice to their potential clients. WHY?

Because to stay in business, you’ve got to make profit. Period. End of story.

The second extreme group, the “Hard Receivers”, are people who get impatient with the wealth creation process and only focus on the receiving part. They feel that their time is too valuable to offer ANY services without charging…a lot.

It is my belief that there are no shortcuts in this principle. You’ve got to keep offering value first – willingly and joyfully – until you create an energetic momentum and get in the flow of abundance.

Most successful and wealthy people went through growth and maturing phases in their businesses before they became “rich and powerful.” Many were offering value for a long time before they started receiving the financial windfall.

The higher the perceived value of your offerings and the more lives you touch, the higher your financial and personal reward will be.

And it will happen on Divine time, which may be different from your expected time-frame. So, don’t get discouraged if you are still growing and building the momentum.

OK, one more important awareness that I want to mention here:

Pay attention to what place you offer your services from.

Is your main focus to make 5-6 figure per month?

Are you focused mostly on enriching yourself, becoming famous, and have more financial wealth for yourself?

Or you really desire to add TRUE value to the lives of others?

Really excited to help people solve their problems, become more confident, competent and successful while creating the life you want to have for yourself?

One more thing….

If you experience resistance to your work, there could be a couple of reasons:
1. Universe is testing your commitment and resilience,
2. The work that you do does not support the Universal direction of expansion – for yourself and/or others.
Does it make sense?

What do you think about this essential? I’d love to hear from you!

Leave a comment below and let me know what you think about the Essential #5.

Until Next time…STAY EMPOWERED.

To your Health, Wealth and Freedom!

P.S. Have you downloaded your FREE Wealth Planner yet? If not, DO IT NOW! Your Future Self will thank you for this!
October 17, 2018