“The money you make is a symbol of the value you create.”
I'm using money and currency interchangeably to make this simple + easy to understand.
Money Philosophy:
We live in a world of abundant spiritual and energetic wealth. With over 7 billion people worldwide, we have the tools, experience, and perspective to create the lives of our dreams by helping people meet their needs. Your target market is waiting for you to create something amazing to make their lives more fun or enjoyable.
Money is a symbol of an energetic transaction. If you ask a person for time/energy/expertise to complete a task, you will give them money for products or services rendered. That's the fundamentals of a transaction. The value that matches or exceeds a need fuels the best transactions.
Additionally, possession does not always equal wealth. Look at hoarders -they take in, but they do not release. The process of both giving and receiving allows for an exchange of infinite possibilities. You’ll need to create space for things to come into your life and release what no longer serves you (or what could better serve others - charity). This empowered pattern of giving and receiving creates abundance for all.
While some forms of physical resources may be limited (socioeconomics), there are infinite ways of creating value and worth for a CEO and a homeless person. Both are valuable because of their unique perspectives and potential problem-solving strategies.
A Splash of Psychology:
True wealth-building starts with a single person.
It boils down to how much I think I'm worthy of receiving. I might be okay accepting a 10 bill from a friend, but could I accept $100, $1000, etc.?
Here are some good questions to ask to discover the emotional blocks around money:
Am I worth x amount?
Why do I feel like I cannot accept x amount?
What do I think I need to be doing to deserve that amount? What skills or knowledge do I think I need to match that amount? Is it rational?
Make sure to seek out support to heal your unworthiness. Earning money will be much easier once you clear out your emotional blocks. Clarity helps tremendously.
Getting Clear on Your Money Needs:
If you aren't making the amount of money you need to fuel your life, figure out what that number is. Your first answer might be, "I don't know." Sometimes, you must ask a question and follow up with 3-5 whys to get your answer.
Example:
How much money do I need? “I don't know.”
Why? “It's hard to anticipate something I don't have. But, if I'm honest with myself, I've had that number in my head for years. It's $10 more an hour. If I do the math, it's $10 * 8 hours * 5 days. I need $400 more a week to feel abundant!”
How do I get an additional $400 a week? "I don't know."
At this point, brainstorm ideas and research. Having a clear view of the specific amount of money you need to propel you to the next phase of your life might give you the willpower to keep going.
If you sell a service or product and aren't comfortable with pricing, research what others charge for a similar product. Share your research with trusted people and see how your ideas bloom and grow.
Money Challenge:
Buy something slightly outside of your comfort zone. Not too crazy, but something that stretches you a little. Or donate to a charity. Then challenge yourself to look for creative solutions - ex. create a repayment plan.
Example: I will improve my health by purchasing a $240 water filter.
Repayment plan: I will pay an extra $20 on my credit card for the next 12 months.
I once bought a plane ticket to Bali that was expensive. This was a dream opportunity, and I knew I had to make it happen no matter what it took. Within days, I started picking up temp shifts, handing out flyers, and signing up for freelance programs. I found the hustle because I was hungry enough to step outside my comfort zone to find it!
Money Growing Practice:
Money grows when you show it respect. How can you show money respect? There are so many strategies and complexities involved in money handling. It's almost like you've got to learn a new language to play the game. But I will keep it simple and discuss debt, credit score, and emergency funds.
DEBT: Firstly, pay off your debt.
If your credit card payment is $20, see if you can budget your expenses to pay off an additional $20 monthly. In other words, double your payment. This might mean you'll have to cancel your Netflix subscription temporarily, but it'll be worth it.
See if you can consolidate your debt or get a credit card with a lower APR. Call your bank, research online, or ask trusted people for advice on controlling your debt.
CREDIT SCORE: Figure out your credit score. This will be nerve-wracking if you've never checked, but once you know your figure, you can look up strategies to help you raise it to the desired level. You can use tools like Credit Karma or Mint to help you.
SAVINGS: You'll need to save 3-6 months of emergency funds. This seems like a lot, but you can get there by putting a consistent amount into your savings every paycheck. Whether it's 5%, 10%, or 20%, whatever you can spare is enough as long as it's consistent. If you can make space in your budget for a subscription, you can invest in yourself.
An emergency fund will be helpful if your car dies on you and you find yourself unexpectedly in the market for a new car or if your roof leaks and you need to replace a good chunk of it.
After you've got this basic foundation set, you can learn about investing and open yourself up to a much wider money-growing playing field. So get excited about what comes next. This is the fruitful field all your sacrifices are leading.
Final Thoughts:
Be smart with your money, but remember to have fun with it. You might not be able to treat yourself to an extravagant item like a Porche, but you can take yourself out for ice cream. Whatever level you are at, sprinkle yourself with a reasonable amount of fun.
If you want new air pods, you can set aside an extra $20 a paycheck until you save enough. And if you have an immediate need for something pricey like a computer or washing machine that doesn’t fit into your budget, see if you can find a 0% APR credit card for 12 months (Best Buy and Apple offer these kinds of credit cards). But don't just swipe your card and forget about it; plan repayment so you'll be empowered at the end of your 12-month grace period.
Consistency is key when it comes to growing your money. So Pay off your debt and save or invest where you can. And add a sprinkle of celebration and fun. If you utilize the correct plans and strategies, getting organized with your money will allow you to have it all.
Amor y Canela,
Monica
