Talk about a whirlwind of excitement and connection and laughter and tears and some genuinely heart-wrenching epiphanies these past five days of the bootcamp!
I know you weren’t able to make it, so I’m giving you the shortcut with a few high-level takeaways and another ready-to-use money tip!
If there’s nothing else you remember from this past week’s bootcamp (besides getting a few extra emails from me), please remember this:
If you’re struggling with money, you’re not broken, and you don’t have a motivation problem. You’re simply missing the needed skills.
We exposed that truth early last week, with the release of my special report The Big Money Lie!
Next we started to get into exactly which skills are needed with the release of the 4-Minute Money Skills Blueprint, helping you to quickly identify gaps in your ability to handle money effectively.
And then of course, we had the bootcamp these past five days, basically helping you develop each of the four essential skills to help you actively start moving towards the financial success you crave — and deserve…
Okay, now for today’s big, juicy money tip:
You need to connect a dot from spending back to your income.
Whenever you’re about to complete a purchase, remind yourself of how long it takes to generate that exact amount of money required to complete the purchase. It contextualizes the price tag and immediately helps you to thoughtfully consider whether or not the cost is truly worth the effort (not just if it is “worth” the money).
EXAMPLE—Working Out Eating Out
Let’s say that you spend $500 a month on Starbucks as well as some lunches and dinners outside the home, and maybe a movie or two, too. Let’s also assume that you earn $50,000 at your place of work. After Uncle Sam takes his cut, you’re down to $32,500 that you actually take home every year. And to take this one step further, that $500 per month ends up being $6000/yr.
When you crunch the numbers, what you discover is that you need to work almost 10 weeks out of the year (technically 9.6) just to pay for your Starbucks, dinners and movie nights! (Literally, 32 hours of work every month goes to pay for this habit.)
Are all those fancy coffees and dinners out [really] worth two and a half months of hard work? That’s the value of making the mental connection before pulling out the credit card.
LESSON: Create an income vs. spending context for every purchase.
By the way, I totally understand that when you are sitting there by yourself trying to figure out your bills, credit cards, and paperwork, it can feel like you are the only one having a hard time with it.
Money is nothing to be ashamed or scared of, you just need to develop the right skills and then get a little practice in putting them to work in your life.
If you need a hand to make that happen, please remember that you’re not alone.
I’m here when you need me.
You might have heard that I just launched Abundant. It’s a brand new exclusive 90-day coaching experience direct with me, at a fraction of the investment to work privately with me. It’s for you if you want to live a new positive money story, take decisive action, get fast results, and be surrounded by a caring community as you step up your confidence and greatness.