How can I change my financial situation?
Money can be an all-consuming part of our lives, especially when you’re a business owner. So how do you take control of it and not let money run your life?
The first thing I suggest to clients is to think about their money goals. It is easy to spend money as you make it. When you work hard for your money, you want to splurge and treat yourself, spending your money on things you don’t really need. If you create financial goals for yourself and your business, you start to think about money differently. When you have extra money, you think about saving it to reach your goals instead of spending it on things you want but don’t need.
The next step is to create a plan for managing your finances. Make sure you set up a time to pay bills, update bookkeeping, make deposits, and check your financial status. When you stay up to date on your bookkeeping and finances, you know exactly where you are at with your money and feel more in control of your money.
Next is to stop comparing yourself to others. It’s so easy to look at other people and see all the things they have and want all the same things. When you look at other business owners, friends, family, or random people on social media, remember that they have different goals than you. They may be spending all of their money on stuff and never really getting what they want. Or they may have spent years saving and budgeting to be where they are financially now. Don’t compare yourself to others!
Finally, like I always say, ask for help. A quote I have heard a few times basically says the mind that got you into this situation doesn’t know how to get out of it. You start creating money habits while you are still a child copying your parents. You have been traveling down this financial path for a long time, so to start down a new path you will need some help!
As always, I’m here to help if you need it! Contact me at firstname.lastname@example.org.