My client asked “How much do I really need to know about my finances?” Ah, a trick question. And the answer is one that will be different for each person who asks this question. The answer will also be different from every expert you ask.
I am by no means an expert in finances. But I do consider myself knowledgeable about assisting people in finding a path to wealth that works well for them. I also know that even if you were following the Laws of Attraction 100%, you still need to know enough to make solid decisions about the direction you want to be heading in. Once you know the red hot moment of where you stand and where you want to land, you can use Attraction to provide the needed resources. This will enable you to get there in a more joyful manner. I have watched many financially tortured souls turn their perspectives around in an hour. As a result, they begin taking different actions to manifest a totally different financial status.
Before you do anything, you must make an agreement with yourself. Decide to stick with this journey until you get the prize. The journey to the prize is an ongoing process, but you must stay in the game long enough to find your perfect path. Nobody knows what is perfect for you besides YOU! Some people can’t stand numbers or knowing details about finances - I used to be one of those people! Not being able to understand your numbers is a lie, so decide that you are up for this and make a change you know is for the better. It’s never too late to build wealth, you just have to start!
Next, you need to know your current financial status. I know to some people this is dreaded news. But don’t bury your head under the pillow, yet! Just because your balance sheet may not look like how you want it or you want to burn it, it provides valuable information for you to create solutions for your future. Once you do some initial research, the process gets a lot easier. You are laying a foundation. I promise, it is well worth any effort and personal growth you have to do in order to have peace and joy with money. And hey, it’s just a bit fun to pay expenses easily, live in a home you love and spend your time in a way that is totally fulfilling.
So you need to find out the following first: Your income per month. If it varies, take an average from the past 12 month period. Your expenses per month. Include all of your fixed payments as well as your cost of living. If you’re in business for yourself, you need to know both your personal and business expenses as well. Outstanding Debt owed on anything and everything. Whether it’s your credit cards, house and car payments, or money owed to your best friend, write it all down. Make a listing of any rental properties, as to their income and costs with them. List all of the assets you have and what you think they’re worth or they’re value. These are your tangible items, for example, your home, a boat, a private collection of valuable items. Also list the amount of money in savings, stocks, mutual funds, CD’s or simple investments. And with those, show their return on your investment. (aka ROI)
Make this process simple. You need to capture it on paper. Whether it’s on scratch paper, in a spreadsheet or you have it all detailed in your accounting software program, you need to have this snapshot of your current financial status. Do this in whatever method that makes sense to you, so you can understand it and be able to read it. If you don’t make it easy for you, then it is what you will end up avoiding, and remember from above, it’s a lie that it is hard. You need to make your numbers your friends. After all, they are a photograph of your life. If you create a good relationship now, it will get even better as your wealth grows.
Whatever you need to do to make finances fun, do it ASAP. I always like to make money a game, so that I’ll stay engaged in the process and keep moving forward. Yes, even paying off debt can be a fun game. I play games like seeing how much more I can pay on the debt in a month than I did the previous month. Even if the number only increases by $5, it is progress!
Okay, next you need to know your past and current money habits. How do you react when times are tough? What about receiving more money than you’re used to? Do you benefit from the way you spend, save and earn or do you suffer? You need to know what is working and not working in order to create a relationship with money that is healthy and fulfilling.
The next thing you need to know is how you want your finances to look. If you don’t know where you are going and the path to get there; you can get very lost. Do you want to earn your money from a job, a business or investing? If it’s a combination of all of these, what percentage of your income do you want to come from each? What do enjoy? What are you interested in? Who can assist you? You won’t be an expert in all areas and you may not want to be an expert about any of this, but you need to know enough in order to hire and direct the perfect people for you.
Lastly, you need to know how much money is enough for you. Another trick question! After expenses what else do you require for security, comfort and pleasure? There is no limit to your answer and it will constantly change. You need to know if what you are doing and thinking today will lead you to the desired results.
Wealth mentality equals wealth.
Eva Gregory and I teach a course called Financial Fortune*. . . the principles are this:
1. Finances and wealth ARE fun
2. You must be aware of your financial set point, how you feel about money.
3. What are your wealth habits? The things you do on a daily basis that align you with wealth.
4. Focus on winning. . . not playing not to lose. Let go of fear and protection.
5. Make a plan (inspired of course!) and follow it. Let it guide you.
6. Get assistance to stay on track.
7. It doesn't matter how your finances have been up to this point. . . you can start to change things today!
You can have what you want. Really you can. What do you want? Where is your focus?
Check out http://www.theprosperitygame.com/finanfortune.htm.
Jeanna Gabellini is the Xtreme Abundance Coach. She'll give you all the tools you need to create financial wealth and prosperity with her personal coaching, tele-courses and audio products. Jeanna blends strategy, Laws of attraction and FUN to assist you in creating exactly what you want. Are you ready for Extreme Abundance? Go to http://www.MasterPeaceCoaching.com to get your free ezine or call 707-747-0447 for more info.