8 Ways To Fall In Love With Your Finances

For the most part, the majority of entrepreneurs I talk to hate dealing with the finances of their business. It’s scary, confusing and can be quite stress inducing. However, the majority of entrepreneurs I talk to know that if they gave their finances more attention, their businesses would be much better off.

So how can we enjoy, or even fall in love with our business finances?

I reached out to Amber Dugger, Cash Flow Strategist and Money Mindset Coach, for her thoughts on how to fall in love with finances.  I was pleasantly surprised when she shared with me that I didn’t have to immediately become a spreadsheet guru!

I have heard many stories of overcoming the fear of actually taking a deeper look at the numbers.  You are not alone. Amber shared with me that the two top traits her successful clients possess are resilience and self-compassion.  So before we dive into the steps, I want to encourage you to give yourself grace as you read through this list. Recognize that you are diving into financial self-care as you read these words.

Take a deep breath with me. Ok, on to the steps.

Write Down What Brings You Joy And How Money Would Help

“Decisions and drivers are motivated by two things:  Love and Fear.” says Duggar. “Ensuring that we are making our financial decisions rooted in love requires introspection in what it is that brings joy and ensuring that we allocate our resources to those things and experiences.  Do this with the assumption that you have your bills paid and savings in the bank. Giving purpose and intention to future revenue makes space for that money to show up.”

Hire A Bookkeeper That Will Love On Your Books Weekly

There are bookkeepers and accountants that love to track your financials so you don’t have to.  This ensures that you have an accurate record of what is happening financially in your business so that your accountant can determine how much you owe in taxes.  Beware of a common misconception – this is not a solution to help you get more clarity and control of your money. It does ensure that your i’s are dotted and your t’s crossed so that you can focus on your genius zone. Bookkeeping looks backwards and to woo your finances, you want to be present with them and look into the future together (aka: strategic planning for what’s ahead). This is a perfect segue into the next tip.

Calculate A Monthly Revenue Goal To Aim For

Give your business love by being clear on what her needs are.  How much do you want to pay yourself each month? How much are your monthly business expenses? This allows you to set yourself up for success and ensure that you are building a business that is providing you with the resources to live your life (not your friends or family or colleagues).  We all have unique desires and needs. Why have generic revenue goals?

Read Profit First by Mike Michalowicz

This simple yet super effective cash flow system allows business owners to finally pay themselves first and still have enough to pay their taxes, business expenses and be profitable.  Profit First challenges the traditional view of Sales – Expenses = Profit by teaching that Sales – Profit = Expenses. Pay your business (and yourself) first!  I cannot recommend this book enough. This book is a game changer.

Know The Value Of Your Offerings And What That’s Worth To Your Customer

Money is simply energy.  It is meant to flow in and out and it represents value.  Creating value is a way to give love to our clients. This is key in opening up yourself to receive more easily and to be paid in kind for the value your offers bring to the table.  “Remember, you are priceless and what you get paid is not a reflection of your worth, it is a representation of the value received by your customer.” reminds Duggar.

Track Every Dime That Comes In

Do this by opening up your bank account every day or week and simply write down the deposits. What you focus on grows. “Feeling a bit of anxiety with this one?” asks Duggar, “Take a deep breath of love and remind yourself that you are safe and looking at your bank account regularly will only give you more clarity and understanding of where your money is coming and going.” I’m a huge advocate of tracking every dime that comes in and showing gratitude for it. Why? Because it works.

Take Time To Go Through Bank And Credit Card Statements

“Keeping our finances organized and clear is similar to decluttering our office or home.” says Duggar. “It clears out stagnant energy and makes space for more abundance to enter our lives. Are you using all of the tools that you are paying for?  Are there some charges that can be canceled? You want to ensure that the resources you are paying for are being used and the ones that are not can be decluttered. Your bank account will thank you for it!”

Immerse Yourself In Learning

Remind yourself that the unfamiliar is awkward and uncomfortable.  Give yourself the beautiful gift of financial self-care and allow the awkward and uncomfortable to become comfortable.  It is possible and you don’t have to be a math nerd or self-proclaimed numbers person. It is only the fear of the unknown that is holding most people back.

If you follow the tips outlined here, not only will you swoon when you hear the word finances, but you will also empower yourself with a solid framework to have more clarity and peace with your numbers and be set up to maximize your profitability.

[“source=forbes”]

The post 8 Ways To Fall In Love With Your Finances appeared first on Dcresource.