Dare to Change Life Coaching & Mentoring

Tag: money worries

7 Steps to Regain Control Over Your Money: Step #6 – Shop Smart

Women shop differently than men. In general, women tend to love shopping and many see it as an entertaining activity. They are more likely to make impulsive purchases and often take advantage of special offers.

Men mostly buy just what they need right now – they go with a clear idea of what they are looking for and try to spend as little time as possible.

Can you relate?

In order to spend less and save more, especially as a woman, you’ve got to become a savvy shopper. It’s not difficult. And the tips that I’m going to share with you here will help you buy what you need, spend less and save more. That’s what I call smart shopping.

You can save substantial amounts of cash when you become intentional shopper as opposed to emotional shopper.

Ready?

Here are EIGHT TIPS for SAVVY SHOPPING:

1. Plan your purchases in advance

Plan your purchase. Pause and get really clear about: Why do you need it? Where will you put it? What will you use it for? Who will use it?

If you don’t have compelling answers to these questions you will realize that you don’t really need to buy it at this time.

If you feel strong about your decision to buy the item, plan the day to go shopping and enjoy the fact that you made an intentional decision to buy it, not an impulsive one.

2. Have a budget for your purchase

Have an approximate amount that you intend to spend on this purchase. This will help you be intentional about the amount you’re willing to pay and not get carried away with whatever price you see on the label.

Does it require some financial discipline? Yes. And it’s a good habit to have if you want to be a Wealth Builder instead of Wealth Consumer.

3. Pay in full (cash or debit card)

When you are in a store and you see something that you really want or need, it’s easy to pull out a credit card and pay whatever the price may be.

However, if you are using cash or a debit card to purchase the item, you’ll have more awareness about the price that you’re about to pay because your amount is limited by the cash in your wallet or by the amount in your bank account.

4. Buy older iterations of products

Retail price of the latest version of a product is always higher than the previous years’ model, whether it’s a phone, a TV or a car.While the newer version may have more features, you’re paying a premium price for these new features if you buy the product on release-day.

The same model will be priced significantly lower in just a year or two, so waiting a little longer can be quite lucrative. You may save hundreds or even thousands when you weigh the benefits of saving money on buying a good, but not the latest model of the product.

5. Shop for clothing during the end-season

You like to look like a “million bucks”? Great! And it doesn’t have to cost you that much! You can find significant markdowns on clothing prices—50% or more—during the end of the season for clothes.

Retailers cut prices to get rid of things that are going out of season. It may worth your money to wait a few months to buy clothes you like at prices your wallet will love!

6. Don’t be fooled by marketing

Stores are designed to entice you to spend money. Their strategies are subtle and effective.

Most use different lighting effects, colors, music, and items displayed in a certain way to entice you into buying more than you intended to when you came to the store. The same applies to online shopping – additional items are suggested to you when you buy anything.

Don’t fall for any of it. Be clear about what you came to the store to buy so you won’t get dazzled into overspending or buying something you didn’t plan for.

Buy quality items that are offered at discounted price but only if you need and want them, not simply because of the decreased price.

Finally, remember that sales people are trained to make you buy! It’s a good idea to ask questions about products, but don’t let them persuade you into buying it there and then. Take your time to make measured decisions.

7. Negotiate

Very few people realize that you can negotiate many products’ prices with a seller!

Let’s say, you have decided on an item you want. You have found the best price, you chose your timing right, and you are ready to pay for it.

But wait! Always ask for “the best possible price” wherever you are or whatever you are buying. What is the worst that can happen?

Sometimes when the seller cannot offer any additional discount on the product, you may get a discount on a service or another item that you need to buy too! Negotiation is a great skill that you can develop and practice when you shop!

8. Be mindful of timing when you travel

Prices on hotels, vacation rentals, airfare, and even rental cars are often much higher during certain days of the week, school and college breaks, and national holidays.

The travel industry knows that most people like to leave for vacation on Fridays and come back on Sundays. That’s why these days the prices on airfare, vacation rentals and hotels are higher.

Be smart and adjust your travel timeline so that you get a better deal. Shop around for plane tickets to fly out on Tuesday, Wednesday, Thursday, or Saturday to take advantage of lower prices.

Also, the plane tickets usually cost less when bought in advance – plan your air travel in advance. Do price comparison for your favorite travel destinations to reduce your travel expenses further.

The Bottom Line: From shopping for groceries to shopping for a weekend getaway, spending money is a “side effect” of shopping (Get savvy about it!

Next time you’re browsing in a store or online, think about these 8 tips to be a savvy shopper.

To your Health, Wealth and Freedom!

P.S. Have you registered yet for my brand new training – Unpack Your Debt?

This is a 5-day LIVE bootcamp where I’ll share the TRUTH about DEBT and show you the WAY OUT.

You can access this LIVE training FREE if you register before February 25th! Click HERE to Register NOW

February 28, 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 #1 – Declutter your environments

Let’s get tactical and discuss the steps to regain control over your money.

Having the right environments is super important. That’s why you hear a lot about decluttering.

If you live in a home that is filled with clothes that you don’t wear and don’t like, boxes with magazines and souvenirs, pieces of furniture that don’t add anything to the comfort of your physical space, YOU CAN change it!

If you don’t have an environment that supports what you want to think, feel, create, and experience, remind yourself that YOU CAN change it.

If you have a relationship that doesn’t make you feel supported, loved, and appreciated, that doesn’t spark joy in you – YOU CAN change it.

If you feel that you got yourself into a “money prison” because of accumulated  debt, or unhealthy spending habits, or arguing with your partner about excessive spending and feeling insecure about your financial future – YOU CAN change it too!

You can CHOOSE to be clear and intentional with your choices and change what’s not working for you.

You can move away or towards a different environment, or you can create a new energy in your current environment.

And whatever you want to change, start changing NOW by letting go of what’s not working for YOU!

You want to make a big leap? Great, go for it!

Feel like starting with small changes? Awesome!  Baby steps are great! It’s how you implement BIG changes without feeling overwhelmed.

Life is what you choose to make of it.  Whether it’s your physical environment, relationship, work, or money.

Living with your focus on past mistakes drains your energy, deflates your confidence, blocks the flow of wealth, joy, and new opportunities in your life!

That’s why decluttering your mental space is super important!

I recall the time in my life when I felt that I must change my environments – my work, my marriage, my financial habits (e.g. shopping therapy) – because I felt empty inside…I felt just existing, going through life instead of living it.

BUT I was afraid to change.

“What if”, “not yet”, and “not now” thinking kept me stuck in the environments that felt like desert. Unfortunately, I didn’t have a support system at that time.

My FEAR of “not having enough”, not being able to support myself, feeling financially insecure if I leave my marriage, kept me in a prison of my own making for years.

Until one day…I decided to change.

First, I asked myself “What is the worst thing that may happen?” Once I reconciled with the answer to this question, fear of consequences couldn’t keep me hostage anymore.

Then I asked “Why it may not be true that I cannot be financially secure without a man?” And the answers started pouring from my heart onto my journal.

And then…I asked “What needs to happen NOW so that I feel more ease, joy, and excitement about my life?” And the answer was clear and loud…

DARE TO CHANGE.

If you tolerate environments that make you feel overwhelmed, not capable, not supported; the environments that deflate your confidence and sense of personal power – don’ wait for a better time. Or better circumstances. Or a “prince charming” to save you.

DO NOT WAIT TO BE SAVED. YOU ARE YOUR SAVER.

Change might challenge you. You might need to juggle some things and make a few adjustments…

BUT it’s possible. And often necessary.

So that you step into your full power. Get in control of your money. Charge of your financial destiny.

And the first step is to attend to your environments and declutter your space.

Next I’ll share the next step to regain control over your money.

P.S. And if you can get access to a supportive environment, to like-minded people who would support and encourage you to live your dram life – use it!  Join the Wealth Building for Powerful Women community to get live support and connect with like-minded women. You don’t have to feel alone in this world!

January 16, 2019
4 Common Mistakes People Make When Managing Financial Priorities and How to Avoid Them
Do you want to be Financially Independent? Do you want to have more Freedom? More Choices? More Money?

OK, these are rhetorical questions…. Of course you do!

And what I’ve noticed is that there are two immediate mental reactions that most people have when they are asked these questions.

Some say: “It will not happen to me because __________ (e.g. “I’m broke”, “I’m not good with money”, “I don’t have a right profession / business”, “I’m single”, “Wealth makes people greedy”, “I don’t know how”.)

Others say: “What needs to happen so I have more Freedom, more Choices and more Money?” “What do I need to change? Learn? Do? How to Be?”

While having a nice income, or a rental property, or a portfolio of stocks is great, creating financial independence is waaaaay bigger than choosing the right stocks, buying properties, or making money at your job or in your business!

Financial Independence is about your way of being – taking choices that are congruent with your values and goals (financial and personal), having confidence and competence to manage your financial priorities so that the decisions you make get you closer and closer to your highest vision for life and work!

And it’s also about creating multiple streams of income by using your skills and passions (business), your money and knowledge (investing), other people’s money and resources (leverage) or all of the above in order to have the lifestyle you dream about.

There are many factors that play a role in how quickly you can become financially independent. And one of the most important factors is becoming really good at managing your financial priorities.

This one factor allows some people to live free of financial worries and anxiety while others to feel like they have to slave for money…for the rest of their life.

And this is true across different sociological and income groups!

So, what common mistakes people make when it comes to managing financial priorities? And how you can avoid these mistakes and get well on your way to financial independence?

Here’re some common mistakes that I’ve observed:
1. Lack of Awareness about Core Values.
When you’re not aware of what is REALLY important in your life, you act sporadically. You make yearly resolutions not to spend more money than you make, not to have more debt, not to buy more “stuff”….

BUT then you get off track when you see a new shiny object like a designer dress or an exotic vacation offer, or _______ and you get your credit card out of your wallet and… get into debt again!

Be clear about your Core Values.

For example, if one of your core values is to have more freedom, more choices, more peace of mind – this awareness will help you avoid the financial temptations and make decisions that are congruent with your Core Values.
1. Not Setting Intentions.
When you don’t set your financial intentions, you create randomly, often from a place of fear, doubt, and powerlessness. Since you’re creating all the time, why not to be intentional about your creations?

You want to have an emergency fund by a certain date? Set the intention!

You want to grow your wealth by making strategic investments? Set the intention!

You want to receive income from passive investments to support your desired lifestyle? Buy a new car? A house? Set an intention!

Intentions direct energy. Intentions set in motion possibilities.

Intentions direct experiences that you need to have so that your intentions become your reality.

Setting the intentions is the way to leverage the infinite organizing power of the Universe.
1. Focusing on Problems instead of Solutions.
What you focus on, expands. You know that, right?

So, when you focus on how you cannot afford to buy _________, or how you cannot invest in __________, or how unlucky you are because you don’t make enough money – you focus on problems instead of solutions.

Choose to Focus on what you say YES TO when you manage your financial priorities!

For example, you can ask yourself “what would need to happen so I’ll be able to _______?” “What can I do today, this week, this month to make more money? To pay off my debt AND save more? To invest and grow my wealth?”

You can brainstorm different options, write them down, choose which ones excite you the most and take the first step…and the next…and the next.

With the focus on solutions, you’ll be able to take inspired actions!

And even small actions taken towards your desired financial results will help you make better financial decisions.
1. Not Living in Integrity with Your Financial Goals.
You may know your core values and even set your intentions and financial goals. But if you don’t practice financial discipline, if you don’t live in a way that supports your financial goals, it’s unlikely that you become financially independent any time soon.

Because knowing what you need to do is not enough!

Implementing your knowledge, doing what needs to be done even if it’s not easy or uncomfortable – THAT shows your commitment and determination.

THAT will lead to results! Because “devil is in execution”, agree?

And even if you made some financial mistakes in the past – it doesn’t matter! Because you are NOT your experiences!

Managing your financial priorities well is a skill that you can attain and practice!

If you’re not where you want to be in your life, financially – it’s time to change.

Manage your financial priorities in the ways that support your financial goals and core values.

To Your Health,Wealth and Freedom!

Millen

P.S. For the next 24 hours ONLY – special offer to celebrate Independence Day! If you haven’t benefited yet from working with me or speaking to me in person, I offer you a complimentary Make Money Work For You strategy session!! You can book it HERE
July 4, 2018
What Is Your Worth? Hint: It’s Not What You Think!
“The more you’re like yourself, the less you are like anyone else, which makes you unique.”
~ Walt Disney

“I am not where I supposed to be in this stage of my life.”

“I appreciate the great money I make but I feel I could do and have more.”

“If I only had a thriving business, I would be happy. I don’t feel that I live my full potential.”

In my experience as a wealth coach and financial freedom mentor, I have yet to meet a single woman who was truly deeply connected to the intrinsic magic that she possesses.

I am referring to the true magic of YOU that is so much more than your appearance, your business success or the size of your bank/brokerage account.

I am referring to the magic of YOU that you were so highly aware of when you were a little kid.

Remember those glorious days when everything was possible; when you were happy by just being YOU?

Remember the time when you didn’t try to prove your worth or impress anybody? When you didn’t compare yourself?

Do you remember those days when your heart was filled with enthusiasm for life and curiosity about ‘what else is possible’?

Would you agree that you were more connected to the REAL YOU when you were a child than you are now?

Although your physical body has changed significantly, the true essence of you as pure consciousness, as spiritual being, hasn’t changed!

That’s why when you see your picture when you were 3 or 5 years old, you can easily recognize yourself although there is not a single cell that is present in your body now was present than…

“How does all this relate to money and wealth?’ you may ask.

Good Question!

If you want to achieve success in life, you must shift your perception of yourself as limited, unlucky or any other judgmental label you may have assigned to yourself.

Money is energy and it likes to ‘hangout’ with those who emit true enthusiasm for life and live in the question “What else is possible?”

So many people live their lives by subconsciously counting their ‘successes and failures’, their ‘right and wrong decisions’, their ‘luck and misfortunes’.

What if you shifted your perspective of yourself and stopped trying to ‘prove your value’?

What if you released your judgements of yourself whatever they may be – successful, unlucky, looser, achiever – and instead truly connected to the AWARENESS of YOUR INTRINSIC VALUE?

I realize that these suggestions may sound esoteric or even radical for some of you… After all, it’s part of our culture to strive for bigger and better, for glamour and fame, right?

It is also likely that your parents had good intentions while planting the seeds of judgement in your mind by saying things like “You could do much better.”

Ask yourself, does it make YOU happier to be in a perpetual ‘proving your worth’ state of mind?

Does it make YOU more joyful, more loving and more connected to God?

It has been my personal experience and observation of other people’s struggles that looking for your value and trying to prove your worth or your specialness lead to comparisons, endless competitiveness and, ultimately, inner unhappiness or turmoil.

Rather than BEING AWARE and OWNING THE INTRINSIC VALUE OF YOU, you’re trying to prove your value and your worth. By the way, when I say you, I include myself in this category, as I too had been in this subtle mental trap for a long time.

Today I invite you to entertain the following questions
- What would it be like if you stopped judging yourself and trying to prove your value and instead recognized your inherited worthiness?
- How much happier will you feel?
- How much freer will you be?
I find true Self-awareness to be so important for life satisfaction and wealth building that I incorporate these concepts of ‘winning the inner game’ into my wealth building training as essential elements for living a prosperous, happy and healthy.

To your Health, Wealth and freedom!

Millen

P.S. Download your FREE Wealth Planner HERE
May 10, 2018