Today I'm here with a few tips and tricks that I use to help plug money drains and fill that piggy bank.
How we treat money impacts:
Our closest relationships
The opportunities available
Decisions around career, family, and education
Whether we achieve financial peace
Here are some methods that we use in our home:
TALK ABOUT IT. Bring questions, persistence and lots of I-statements. Having money conversations with your SO is a must. (Lingerie for the occasional post-argument-make-up doesn’t hurt either. ;) Scary fact: the likelihood of divorce increases when a couple is having money problems. Let money be a mutually transformative conversation. Sexy and Single? Have your own beautiful back and face those financial documents with vigor, self-compassion and a willingness to ask for help.
WORK IT: Working a day job because you haven’t yet monetized your passion is commendable. Creativity is not beholden to your financial wellbeing. Finding a job? My rule of thumb is: apply to 20 places before expecting to hear back from one. Utilize job-finding websites. You create a basic application and then tweak your cover letter referencing how that company's mission aligns with your own.
CREATE YOUR BUDGET: Start with your total monthly earnings, then label and subtract each monthly expense. Ends up as a negative number? Cut expenses. Have $ left over? Put it towards your emergency fund and paying off debts. Once you are debt free and have that fully funded emergency fund, life is a lot gentler.
Prioritize the basics: groceries, rent, utilities. Meal plan based on what is already in your freezer and cupboards. Stick to that grocery list when shopping. Enjoy new recipes and avoid eating out or ordering in. This keeps you saving and healthy!
BUILD AN EMERGENCY FUND: Basic? $1000. Advanced? 3-6 months of expenses. Wishing you’d saved all that before now? You’re not alone AND it IS possible. One year I bet my husband $100 that I could save $20,000. Did I win? No. But I saved $10,000 that I wouldn’t have without that bet. Set a goal that is realistic and will stretch you. Then cover it with glitter glue and have some fun. You’ll make significant progress even if you don’t achieve the original goal.
PAY OFF DEBT THE WAY YOU’D RUN FROM A SNAKE. Starting with the smallest debts allows you to experience success quickly and build your motivation and endurance for those BIG debts. When I was paying off my student debt I wrote the amount owed on my fridge and got ready for debt-payment conversations. (My husband has his goal taped to the door of his wardrobe. As long as you will see it daily.) With every payment made, I wrote the new amount owed. This was HUGELY motivating.
SELL SELL SELL
Wax poetic and sell those need-a-home items (clothing, furniture, dishes, pet supplies etc) on etsy or facebook marketplace. Just posting 1 item per week makes a BIG impact. Use the money to pay off debt!
Clean out that closet and dresser. Chances are you’ll find forgotten pieces to create beautiful new outfits. Record favorite outfits and create a go-to list of smashing looks to help you get out of your funk on those “blah” days. Sell the rest!
Use up beauty products before purchasing new ones and dive into research!
Finish DIY projects: consolidate those candle stubs, finish knitting that scarf, write that letter, hang that picture. This process opened my eyes to just how much we already had and DIDN’T need.
When these methods are properly implemented, you will notice that:
Open genuine conversations about spending lead to greater trust in your relationship
You embrace and create opportunities for creativity and connection
Decisions become less and less about money fears and more about value alignment
Financial peace starts with tiny steps that lead to BIG change.
Want more? In a free breakthrough session, you’ll enjoy a 60 minute phone call focused entirely on helping you cultivate abundance, bring sexy back and show up for the people you love. Schedule your free breakthrough session here.