Dear Money, will you marry me?
When working with your money and finances, do you feel like it’s similar to searching for Sasquatch? You think you’ve almost got it and then it vanishes. It’s elusiveness makes you question whether it really exists or not. If money were a person in your life; how would you describe that person? Is it a menacing green monster trying to steal your wallet? Does it bully you and make you feel worthless? Maybe money is a person you feel is against you, is frequently seen chasing you and just makes you feel scared of what to do next. Ugh the enemy!
On the other hand, maybe money has a very charismatic personality that will justify all of your spending transactions as “needs”. You can have what you want while being distracted from the mounting debt. Are any of these “characters” working for you? What if you changed what the “money identity” in your life looked like? How would it change your thinking around the management of and potential use of your money?
My advice would be to make money your best friend. A friend who walks alongside you, laughs with you, has your back and is honest when they think you might be making a bad decision. That’s the type of money relationship you want to be involved in.
A good way to have yourself introduced to these types of healthy relationships is to start establishing a relationship with the following professionals: Personal Banker, Bookkeeper, Certified Public Accountant [CPA], Certified Financial Planner [CFP] and a Profit First Professional. Learn how they can benefit you by asking the right questions.
As a Profit First Professional, here are some questions I would have you ask yourself:
- What is the lifestyle you would like to have?
- Based on your desired lifestyle, what type of monthly income goal do you need to ramp towards to get there?
- Do you have accountability in place to keep you on track? If not, what would that look like if you did?
- How do you manage your cash flow?
- What limiting beliefs do you have around money?
- How do you determine the health of your business?
- If you do not have answers that you feel comfortable with for these questions, what next steps can you take to get the education and support that you need? Because after all, you deserve the life you desire.
You will want to customize additional questions that fit specifically to each professional. You can get references from friends, post questions on social media, Google information to discover additional questions or go to your local chamber, business resource center or free university to learn more about what each one has to offer.
A healthy, nurturing relationship requires time, attention, commitment and consistency. You are well on your way for defining what your “Money” identity looks like. Hopefully you’ll fall in love and live happily ever after!
To learn more on how to create a healthy business and cash flow management system. Join Janet at her next Profit First 101 workshop at Cowork Evergreen on Friday, Nov 13th from 10am – Noon. Click HERE for more information and to sign up.
Janet Redford is a Small Business Sidekick and Profit First Professional. She helps you direct profits in your business. To sign up for Profit First workshops contact her at Janet@GoMindBlown.com Visit www.GoMindBlown.com and Like her on Facebook.com/JanetRedfordCoaching.