There’s a lot of content out there about ‘wealth consciousness’, but are you conscious of where your money comes from and where it flows to on a day-to-day basis?
SO many women entrepreneurs I speak to have a very loose awareness of the money in their lives. Their finances seem like a mystery and they have no idea how they can create and keep more money.
This is how a lack of money consciousness might be showing up for you right now:
Maybe you have an idea of whether you’re having a ‘good’ month or a ‘bad’ month, but you don’t know how this actually happens? This makes it really tricky to repeat the good and avoid the bad months!
Maybe you can create a healthy income, but it seems to disappear (like magic!) by the end of each month?
Or perhaps you feel that you’re super-busy, working endless hours, but not creating a financial return that reflects the effort you’re putting into your business?
If this is you right now, then it’s likely you’re feeling pretty confused and frustrated. And I completely understand, because this used to be me too!
You need to dive in and become more money conscious o’ gorgeous one. Don’t worry, it’s much easier than you think and here are my top ‘money consciousness’ tips to get you on your way.
1) Track it!
The very first step is to begin tracking every amount of money that flows to you and away from you – every time you receive any income, record it, and every time you spend money, record it.
This might seem really like hard work but believe me, you can make it super-simple.
You can track your money in a small notebook that you carry around with you, on your phone or tablet or you can create a simple spreadsheet.
Knowledge is power (and more money!) and the information you want to collect is:
- The sources your income is coming from (make a note of what product or service has created each amount of income)
- The sort of things you are spending your money on (make a note of where you choose to spend your money and each of your expenses)
If you’re noticing resistance to tracking your money (I certainly did initially!), just commit to doing this for one month to begin with. When you see the results, I’m sure you’ll want to continue.
2) Become a conscious spender
Many of us are mindless spenders. We see something, in that moment we want it and we buy it. Then we move on to the next thing. We end up with lots of stuff, a lack of money and very little real satisfaction.
It’s time to become a conscious spender.
Once you start tracking your money, take some time to look back and notice how you feel about your spending choices. Do the things you spend your money on bring you joy and satisfaction? Are they useful? Do they add value to your life?
Notice those purchases that feel unnecessary when you reflect back on them. Notice the spending decisions that make you feel uneasy or uncomfortable in some way.
Set your intention to become a more conscious spender.
One way you can do this is to designate one day a week to make any spending decisions. (This is something I teach my money mastery clients).
On the day you choose, go through anything you’re considering buying and think about whether you truly want or need it.
Doing this helps to remove emotion from your spending decision and can stop you from making spur-of-the-moment purchases that you later regret. (This one step can be a huge money-saver for Amazon junkies, like me!)
3) Know exactly what’s making you money (so you can make more of it!)
Many women entrepreneurs drift through life not being clear on their numbers. Sometimes it feels like business is going well and other times not so well, but they have no real idea of what makes the difference between a ‘good’ month and a ‘bad’ month. (I know because the ups and downs of my business used to baffle me!)
In order to have a successful business with a healthy income, you need to know where that income is going to come from.
Once you start tracking your income, after a period of time (this can be each week, month, quarter or year), look back at your tracker and calculate which products or services have created the most income for you. You might be surprised!
I was SO resistant to doing this when it was first suggested to me. I thought I knew which of my services created the most money for me and it sounded like hard work. But I was astonished when I saw the results – some of services I was putting the most energy into creating and marketing were the least financially successful, whereas others that I hadn’t been giving much attention were responsible for a substantial proportion of my income.
This meant I was able to give more energy to those services that were likely to create the most impact for me financially and let go of offerings that I wasn’t being rewarded for.
When you become money conscious, you have the knowledge to create magic in your finances.
So, are you ready to raise your money-consciousness? I invite you to comment below to let me know you’re in and let’s create money magic together!
Nicola x
Your next step. Want to discover some more super-potent ways to create the income you desire (and deserve!)? Click here to join my free 7-Day Money Mastery Kickstarter Challenge and get started right away.
