Dare to Change Life Coaching & Mentoring

Tag: woman

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

For additional real-time support, join my private Facebook group:

WEALTH BUILDING FOR POWERFUL WOMEN

Free Resources:

DOWNLOAD MY FREE WEAL TH PLANNER

February 14, 2019
7 Steps to Regain Control Over Your Money: Step #3 – Pay off your debt

Do you or someone you know is dealing with a mountain of debt?

Paying off your Debt is Key #3 to regain control over your money!

Here’s the NAKED TRUTH:

You either MASTER your Money OR get MASTERED by MONEY.

When you accumulate Consumer DEBT, YOU get MASTERED BY MONEY!

It’s that simple.

For many people, debt becomes an addiction. Just like with drugs, getting into debt is as easy as popping a pill. And getting out of debt is just as difficult as getting rid of a drug addiction.

Consumer Debt is a form of financial addiction.

It’s the way banks and credit card companies make profit by charging you insane interest rates and getting the compound interest.

Did you know there were no credit cards until 1946 and as late as 1970 only 15% of Americans had one?

Today credit card companies send out billions of new offers each year!

The debt addiction enslaved millions of people to their lender.

Whether it’s a credit card, car loan, student loan or even a mortgage – debt has gotten out of hand for millions and millions of people!

Consumer Debt is a poison for your financial success.

You can’t leap ahead because it’s constantly chasing you down.

Consumer Debt is a poison in your personal life. It breaks you down, destroys you dreams, destroys your health, decimates your family, and leaves you broke.

It truly causes havoc in your life.

And even if you don’t have a mountain of debt right now, I want you to realize the enormity of debt addiction in people of all walks of life.

You must be wide awake if one day you face a dilemma about using Credit cards or other consumer loans to pay for something you want but don’t have money in the bank to pay for… AT THIS MOMENT.

All debt is NOT created equal.

Wise Debut and Unwise Debt

I divide debt into 2 categories: WISE Debt and UNWISE Debt.

WISE Debt: borrowing to invest in APPRECIATING asset.

Wise Debt is often referred to as Financial Leverage.

UNWISE Debt: Borrowing for Depreciating Items

Unwise Debt is also known as Consumer Debt.

The Bottom line: ANY DEBT = RISK.

In most occasions Consumer Debt is unnecessary and often dangerous.

It’s unnecessary because there are usually gradual and less expensive ways to get what you want.

It is dangerous because it often becomes a downward spiral, a ‘catch 22’ that ruins your health, your relationships and your overall wellbeing.

And here you have the key #3 to regain control over your money.

To your Health, Wealth and Freedom!

If you want more resources on various financial topics, sign up for my YouTube channel Millen Livis Channel Wealth

And for additional support, I invite you to join my Wealth Building for Powerful Women Facebook group.

February 3, 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
Your Path To Financial Freedom: Where Do You Start?

There are tons of books and seminars these days about abundance because it’s a “hot topic” now. Everybody wants it, everybody likes to talk about it.

But what does abundance mean to you?

Luxurious houses, expensive cars, designer clothes, exquisite jewelry?

Or maybe for you it means having the freedom to choose how to spend your time and live your life?

Whatever it is, I invite you to define it for yourself if you want to experience it one day.

Many of us were raised with limiting beliefs’ programming. This external conditioning implies that you are confined to a certain level of possibilities in your life that is restricted by things like your parents’ social status, your race, religion, education, country of origin, etc.

It is often so deeply ingrained in our minds that we often sabotage ourselves and have no idea that we have these “blind spots”! It’s really hard to think and live wealthy when your perception of what’s possible for you is defined by your past, or your current challenges, or others’ opinions.

The good news is that it’s a complete and shameful lie.

You are powerful by design.

You are only limited by your own imagination and beliefs’ system.

You and only you can make the decision to live your best life, to experience abundance and joy or… to complain and compare yourself with others who seem to have everything that you would like to have. Yes, it’s a matter of choice. (more…)

April 18, 2018
Life Defining Moments: How They Change the Trajectory of Your Life

“I am sorry, but your baby girl is unlikely to survive.” I was in my early 20s, a young mama who just received the worst possible news after being in excruciating labor pain. My then husband was miles away. I had to make a decision about my firstborn – fight or accept this fate. Stubborn me, I refused to accept doctors’ forecast and decided to do whatever it takes to save my baby. WHATEVER. IT. TAKES. While other mothers enjoyed spending time with their newborns, I couldn’t even hold her in my arms until I signed off the release document and took her home under my own responsibility. She was one month old….

This was one of my biggest life-defining moments.

My next defining moment was a decision to leave the country of origin. You see, I was born and grew up in what used to be called USSR – a place where personal freedom, legal system and respect for human rights didn’t have the same meaning as in the US. Massive corruption, discrimination, and lack of respect for personal dignity made me feel suffocated. I didn’t see my future in this country and decided to leave, somehow. My desire for personal freedom was bigger than fear of unknown. We left EVERYTHING (family, friends, home, bank accounts) and traveled across several countries without passports and money (that’s’ what soviets did to those who challenged them).

This was indeed another life-defining moment…

We traveled through Austria and Italy, surviving with odd job here and there, until we received a visa to come to the US. My first job in the US was a minimum-wage florist assistant. I was soooo grateful to be able to support my family while learning English. Then I decided that I want to work on Wall Street. It seemed like impossible goal at first. But the compound effect of many small steps, determination, and patience led me to a prestigious professional career, working for major Wall Street companies.

But corporate America is not a good fit for independent thinkers and self-starters. You are expected to conform. I started to feel stuck, feel like I was dying inside… My work lost meaning to me and a comfortable 6-figure salary was not enough to compensate for the emptiness inside. I reached the tipping point… and left. And not only I left my work but my 22-year marriage as well. Was I scared? TERRIFIED! But strangely, I also felt EXCITED that I finally could create the life on my terms.

These 2 decisions – to leave my marriage and my job – happened at the same time and were yet another defining moment in my life….

You know that a road to success is always under construction. My road to success was still uncharted. After I graduated from the prestigious business school, I couldn’t find a job (at this time, it was an economic crisis in the US) and struggled financially. I started an investment company and failed miserably while managing my business partners’ investments. But that was not all. I became depressed and felt like a total FAILURE. My identity was linked to my job/business, marriage, my social status and all of it was suddenly GONE. I felt ALONE, BROKE, and BROKEN. I didn’t see any future for myself. The only option left was… to surrender.

With all the other challenges that I had in my life, this one was the most painful. Yes, I can say that this was THE Defining moment. It became my awakening experience – I had to embrace my humility, my flaws and imperfections. I’ve learned to appreciate stillness, choose what to focus on, pay attention to my thinking patterns. I’ve done a LOT of inner work, became more loving and compassionate. And yes, once I became more connected and aware, I finally created my financial independence.

This brings me to my final (most recent one) defining moment – a decision to become a financial empowerment mentor for women. I chose to use my story – both failures and successes – and compiled all my experiences into a winning strategy that I call The Millen-aire Method. I now share this 4-dimensional Wealth Building strategy with other powerful women who are not willing to settle for anything less than extraordinary lives.

That’s a short rundown of my life’s defining moments. As you can see, what you have and where you are now doesn’t define WHO you are and WHERE you can be.

How about you? What is YOUR most recent defining moment?

Until next time… Stay Empowered!

With Love and Gratitude,

Millen Livis

January 17, 2018
Working with Financial Advisers and Why You Must Become Financially Empowered

My intention and my mission is to shift the money game from an “adviser-centered” model to a “customer-centered” model. Let me clarify what I mean here.

You have likely used, are currently using or plan to use a financial adviser or a financial planner. And I am not saying you shouldn’t – it’s not my place to say what you should or shouldn’t do. However, I know too many people who got burned by using financial adviser and lost thousands, some even hundreds of thousands of dollars… So, why is it happening?

Well, one of the reasons is that when these people went to see the adviser, they were not really financially educated about their investment options. They delegated managing their money to a person who presumably is trained and licensed to give the best available financial advice as a fiduciary of their money. Right? Well, in theory… yes. In real life – rarely.

You see, the current financial services model has a financial adviser at the center of the financial services’ sphere and a customer – outside of it. When the customer doesn’t know her/his available options or doesn’t even know what questions to ask, the natural inclination is to listen and follow the adviser since s/he ‘knows better’ by the fact that it’s what the advisers do.

However, the caveat here is that financial advisers are no really impartial since they get paid by the financial institutions (banks, brokerage companies, other financial service companies), who issue the financial products that the advisers are selling to you. Unfortunately, it’s not uncommon that financial advisers recommend financial instruments that’s/he will receive the most commissions for.

Not only I know many people who had such experiences with financial advisers, I myself had such experiences. At first, when I met my adviser, I liked him because he listened to me, he proposed to review my estate plan, my retirement goals, etc. This liking made me feel relaxed and… buy the suggested financial products (variable index annuity) and outsource the management of my investment portfolio to his team…

Well, after losing thousands of dollars and realizing the discrepancy between his promises and my actual experience, I got back the control of my financial portfolio yet was still stuck with the multi-year contract on the financial products I bought through him. by the way, advisers are often get paid for each year you hold the financial product they sold you.

This frustrating experience and my frank conversations with some advisers made me realize how much power regular folks give away because they lack basic financial education and feel ‘not good enough’ at managing and investing their own money. An assumption that ‘financial professionals’ know best how to invest your money often leads to tremendous frustration and financial losses.

You see, each of us develops patterns – patterns of thinking and acting – including money-related patterns. Every pattern is caused by a set of assumptions. For example, your assumption that you are not good at managing your money (e.g. because someone told you that or because you mismanaged your money in the past) will likely create a pattern of thinking and acting according to this assumption.

And assuming something as a fact, whether it’s true or not, is caused by your perceptions of past experiences. For example, you’ve saved money and owned financial assets, then you got into a relationship with a person who has unhealthy money habits, which led to a loss of all your savings. As a result, your perception could be that you are not a smart money manager or that you are not meant to be wealthy.

Another example: you’ve invested money in the stock market that you saved for the down-payment on a house because you wanted to grow it, but market dropped, and you lost a lot of money… As the result, your perception could be that investing in the stock market is a gamble and you’re better off keeping all you money in cash.

As you can see from these not so hypothetical examples, your perceptions of your past experiences lead to assumptions, which then lead to your patterns of thinking and acting, and ultimately, to your experiences.

That’s why I am convinced that before you get into the “outer game” of money (dealing with your debt, your spending, savings and investing), you must attend to your ‘inner game’ – take a close and honest look at your current beliefs about money, your abilities to manage it and your beliefs about becoming financially free.

Strengthening your inner ecology – your belief system, your inner monologue, your self-confidence and self-competence – will seamlessly shift your energy from a state of repelling money to a state of attracting wealth effortlessly. You’ll get equipped with making savvy money decisions and taking smart decisive actions.

And if you’ve tried different money mindset boot-camps, seminars, all kinds of affirmations and afformations yet nothing worked thus far… it’s because your heart and soul are not there…because you don’t really believe that these affirmations are true for YOU. Your perceptions of previous experiences led to erroneous assumptions that might be slowing you down or even preventing you from living the life you want, deserve and are capable of.

That is exactly the reason I’ve created the Activate Effortless Wealth mentoring training. This is a compilation of my decades-long knowledge and experience about mastering the “inner game”, which affects your financial situation, your relationships, your work and health. Yes, the inner game is the foundation of your success in life.

And not only you’ll get access to the valuable information I offer (no, you cannot google it LOL ), you’ll have me by your side for over 10 weeks and 3 full days during the LIVE Workshop in Florida. And from my personal experience, having an empowering mentor, guide and supporter by your side on your journey to creating the life you want is priceless. Yes, you may get there on your own… eventually. However, working together with me as a team, will accelerate your results 10X.

And here is the final thought. I can certainly help you become unstoppable in your pursuit of more ease, more money, more peace of mind, and more abundance in your life. However, I cannot choose it for you. You need to decide whether YOU are ready to CHOOSE YOURSELF and up-level your life situation. Life is too precious and too short to postpone your plans until next month, or next year, or when XYZ will happen.

So, are you ready to CHOOSE YOURSELF?

Let me know… Until then, STAY EMPOWERED.

With Love and Gratitude,

Millen Livis

November 29, 2017