Master Your Money
Why getting comfortable with your money is so important and how to master it.
Most of us fear, at one time or another, of not having enough money. Unless you win the lottery, (have you ever met anyone whose actually won the lottery?), you will always feel like you’re going to need more than you have to do what you want to achieve and to feel comfortable and content.
In all honesty, you can feel comfortable about money and get on with the life you want to lead. It doesn’t need to be more money, but it can be. All it takes is a shifting of your mindset in some unique ways that will help you feel more comfortable about money overall.
As a Certified Financial Planner®, my purpose is to help Entrepreneurs, Founders, Business Owners, Startup Companies, and their families realize their hopes, dreams and goals through the powerful leverage of our financial planning process.
Our Beliefs As To Why Lots Of Money Is Bad
Say the following out loud: ‘’I love money and I love the idea of making even more money!”
Were you comfortable saying that? Could you say this to a friend comfortably or say it with the same passion you would as when you’re explaining your latest vacation?
Not all of us are comfortable saying this let alone believing it and I tend to think it is because when we hear about people with a lot of money, we mostly hear negative annotations. When we hear about wealthy people, we hear about the greedy stock brokers or the bankers who keep getting huge bonuses even though they pushed us to the brink of economic collapse. We hear about the guy who was running a Ponzi scheme for 20 years and got away with. We tend to associate people who have a lot of money with bad or illegal dealings.
How many of us have thought those who have a lot of money obtained their money illegally? Be honest now, a lot of people think that way. Or what about the kid who you went to school with that doesn’t have an IQ of 200, isn’t a member of MENSA and was dyslexic – how come this kid is so wealthy now? You see, these people don’t have self-limiting beliefs around the concept of money and their approach is different.
Is It Success Or Is It Money?
Get comfortable talking about your money. Not your success. Your money. When you receive a salary, you receive money in your bank account. You don’t receive success in your bank account. Learn how to stop sabotaging yourself by believing you’re only worth a certain amount of money each month.
Think of Tony Robbins – the famous motivational speaker who wrote about dealing with his own money beliefs in one of his books. He believed that one million dollars per year was enough. He believed It was simply enough to live well and that anything more was simply being greedy. When he was able to overcome that, he was able to earn more. He wasn’t involved in any illegal wrongdoing either. He merely expanded his business, thus increasing his wealth.
Here's how raising the cash conversation can lead to a richer life in more ways than one.
- Boosting your salary
- Improving your finances at home
- Obtain some objective advice
- Saving on pricey dinners with friends
- Passing money smarts onto your kids
Your Income Is The Reflection Of Your Value In The World
If you had to define your income, this would be the formula:
How much money you earn in your life is how much value you provide to people times how much you think you are actually worth.
Read that again, because it’s powerful and it’s something to think about. In essence, you may be providing a lot of value to people but if you think that this is not really worth a lot, well then, you won’t earn a lot of money. If on the other hand, you believe that what you’re offering is valuable then you will raise the price of your services or products and that will multiply into a lot of money.
And this is where most people get stuck.
They might offer a lot of value, but they don’t think it’s actually that valuable. They think it’s nothing special. This is because they think they are nothing special. It would make sense to say that 10 years ago you might not have been as worthy as you are right now. And that is because you were less skilled and experienced than you are now. Don’t fall into the trap of thinking you’re still at the same level. You’re not.
Getting Comfortable With Money
Wouldn’t it be great to say to someone upon them asking how you’re doing financially to say: ”Hey, I’m earning tons of money and I love it”. Wouldn’t it be even better if the person asking you replied by saying: ”Well, show me how to do it.”
We’ve been conditioned to not talk about money. We’ve been taught to believe its taboo to ask financial questions.
But sometimes it’s easier to talk to a stranger about your financial situation. And this is where I can assist you; by advising you on how to save your money. It’s not about making you feel awkward but by asking a few probing financial questions, you immediately realize where you’re at and what you need to cut back on. For example, ask yourself these questions and be honest about your answers.
- What is most of your debt? (Retail, Medical, Student Loans)
- How much debt do you have?
- Do you have an emergency fund?
- Do you track your spending?
- Do you have a budget?
- Why do you not have any money?
- When was the last time you talked about money with someone you trust?
I know money isn’t the most comfortable thing to talk about, or to think about. However, at Intrepid Wealth Partners we love to talk about money! Taking an objective point of view lets us help you identify your hopes, dreams & goals for the future and then put together highly customized solutions to help you save for your goals.
Thank you for reading!
Cheers,
Derek Notman
