MLBD #5: Master Money- Don’t Let It Master You
Finances are an important pillar of Master Life by Design. Today, we’ll be sharing real world principles that can help anyone improve their financial situation.
First, you need to know why you want to become a master of your money. What will drive you when things get tough? What will keep you disciplined? Write out all of these reasons.
Your beliefs are very important when it comes to mastering your money. We adopt belief systems from a young age, including those related to money. When you’re in significant debt, it’s easy to feel that you’ll never get out of your current situation. You need to switch your thoughts and adopt a belief that you’re making positive changes in your finances. Identify what beliefs you’ve had about money in the past, but also capture new empowering thoughts that you will have regarding your finances.
When mastering your money, the first step is eliminating your debt. This will take sacrifices, but remember, it’s not always going to be like this.
Once you start paying off your debt, begin saving a percentage of your income instead of a set dollar amount, so you can adjust in the event of an income increase or decrease. Live by the “pay yourself first” principle and save money first. It’s also important to know your monthly expenses so you can determine how much you want in the bank for an emergency.
It’s also important to start developing a mindset of abundance and giving back. This is a blessing to others and lights us up on the inside. It can be something small such as a cup of coffee. These small steps will help to condition you to come from a place of abundance rather than scarcity.
Consider joining forces with an accountability partner, consulting the expertise of a fiduciary, or checking out a few great books such as MONEY Master the Game by Tony Robbins and Secrets of the Millionaire Mind by T. Harv Eker.
Would you love some guidance around mastering your finances? Let’s chat! Visit masterlifebydesign.com and sign up for your free 30-minute results session to see how we can help!
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Make today count!