The Best Ways to Manage Your Money so You Make and Keep More of It

The Best Ways to Manage Your Money so You Make and Keep More of It

Have you ever wished you had more money in your pocket? We all have. We all want to make more money and then keep more of it in our pockets. That’s why I want to share with you the best ways to help you manage your money – so that you can earn more and keep more of it.

 

Now, I’ve got more than 50 financial tips – but let’s start with the most basic one. Because this one will save you noticeable time, money, and credit problems. And, if you want the rest of my tips, make sure you read to the end of this article. I’ll give them all to you – completely free of charge.

 

manage your money

 The Simple, 5-Minute Tip to Manage Your Money Like a Pro

 

The best and easiest way to manage your money like a pro only takes five, quick and easy minutes each day. And here’s the trick: you need to acknowledge your money.

 

What that means is taking five minutes each day to simply log into your financial accounts. Whether you use a bank, a credit union, or an online institution – log in. You can log in from your phone or your computer. Either way is great!

 

But make sure you’re logging in. Look at your balances. See what your pending and posted transactions are.

 

For most institutions, pending charges are in italics – and it hasn’t quite come out of your account yet. You want to keep an eye on that because that’s where you’ll see the most fraud. And that way, you can stop it.

 

All you have to do is call your bank or credit union right when you see those fraudulent pending charges. That way, the money won’t ever leave your account. Even better, you won’t have to go through the whole hassle of fighting with creditors and all of that.

 

And if you create the habit now of checking your accounts each morning, you’ll get even faster and better at catching potential issues or fraud. And because you’re on top of things, it’ll save you time, headaches, and all that money that would otherwise have been siphoned from your pockets.

 

Do you want more money management tips? Get my free eBook, 52 Financial Tips to Help You Succeed and other free resources to help you attract more money into your life today.

The Secret to Distraction-Free Success and Business Finances

The Secret to Distraction-Free Success and Business Finances

Lately, one of the biggest questions on people’s minds seems to be this: “How can I keep on the right track (of treating my business like a business) and not get distracted?” At least, that’s the question on the surface. Most people, when they ask this question, are actually wondering this: “How do I structure and handle my business finances so that I can stay on target?”

So here’s the good news – if you’ve ever wondered about either of those two questions, here are the answers to keep you (and your business) on track and distraction-free.

Q: How do I treat my business as a business - and not get distracted? A: Most people who ask this actually wonder about their business finances - and here’s how you can rock both.

Set up a separate account for your business finances

The single most important step to distraction-free finances for your business is to get a separate account. That and to keep your personal and business finances separate.

Now, if you’re worried that you need to get your LLC or corporation set up first, let’s shine some truth on that common misconception. It’s simply not true. In fact, the longer you delay setting up a separate business account, the harder it gets – and the more complicated your finances and taxes get.

So do yourself a favor. Go in to your bank or credit union and open up a damned business checking account already! You can go in and open that up as a sole proprietor and use your social security number. As things grow, you can always revisit or change that by talking with your lawyer.

Next, strengthen your financial mindset

Now that you’ve got a business checking account, it’s time to change and strengthen your financial mindset. How do we do that? Simple: by ditching the unhealthy, unsustainable “paycheck-to-paycheck” (or “client to client”) mentality and graduating to a mentality where you acknowledge your value, and the money block is a thing of the past.

Okay, but how do we start making that shift? Start by switching your payments to go into your business checking account. Whether you use PayPal, Venmo, Square, cash, or check, send that money into your business finances. Totally separate your business finances from your personal finances.

That way, you’ll be able to start giving yourself a regular paycheck – and quit seeing a low balance as a “crap I need to find a new client yesterday!” moment of panic. Why the subtle shift? Because as you begin to see your business as your source of income, rather than your clients, you’re going to be more willing to invest back into that business – with time, money, and other resources that will have amazing dividends.

Finally, go out and rock your business

Now that your business is set up to succeed, it’s going to transition from hobby to a successful business. And that means that you’re ready to graduate to an accountability group – and a six figure business income.

Do you need some help shifting your mentality so that your business thrives? Let me be your second opinion. If you’re ready to go from entrepreneur to shining like a diamond with a fabulous six-figure salary, then let’s chat.

 

Start treating your business like a business

Want to make more money? How to start treating your business like a business!

Posted by Lori Hildebrand on Tuesday, April 24, 2018

Freaked Out By Personal Finances?

Freaked Out By Personal Finances?

Does your money ever have you freaked out? Stressed out? Anything but blissful?

Everything, and I mean everything, in your life is a compilation of the small actions you take every day.  All areas of your life are the way they are, because of the decisions you make- every day.  It all adds up. Which to me, is a fantastic! This means that what you want to be different is completely within your control. Personal finance can be a big giant terrifying beast, or it can be simple small decisions every day that will inspire you to do a little more tomorrow.

To create change in those small daily habits to start creating the real wealth you desire.  You must first be clear on where you are starting.  Type in an address in your GPS system and it will first search for your starting location, right?  You can’t possibly get anywhere without knowing where you’re starting.

If you were asked to share your total income and total debt, most people can give ballpark figures. However a shocking number of people will underestimate their debt by at least 30% and overestimate their income by 15% (whether self-employed, salaried, or commission based).  Remember ignorance is NOT bliss when it comes to your money.

To get crystal clear on your starting point, follow these tips.

Track

  • Pick a tracking system and stick with it, don’t get caught up in all the cool new gadgets, just pick one and go.  I suggest Mint.com (free and secure), if you have all of your accounts under one financial roof, you can check with your bank or credit union to see if they have an easy to use tracking system (be sure there is a phone app!).
    • Schedule 4-5 minutes every day to login and check your balances and transactions.

Gather your numbers

  • Remember to include any money owed to family or friends, student loans, store credit cards, etc.
  • Login to all of your accounts and write down your balance owed, interest being paid, terms of loan
  • Pull pay stubs and write down your GROSS income, your insurance and taxes being withheld and any other deductions being taken out. Know your NET income after these deductions.
  • If self employed, review your books (Quickbooks or Xero are highly recommended) with your bookkeeper or accountant, at least monthly.

Clear your space

  • Give your money enough respect to grow. Start with your purse and wallet.
  • Gather all receipts, unused gift cards, loose change, etc. (you’d be surprised at how much money you’re ignoring just in gift cards/certificates alone!)
  • In your wallet, all cash should always be facing the same way with smallest bills in the front.  Crumpled money thrown in the side pocket = disrespect and scarcity mentality.

How do you feel about money today?

  • How you connect with and feel about money impacts how your treat your money.
  • The key to lasting change in growing your personal net worth is trusting yourself.  Create some time to be still and quiet with yourself, if you were to really trust yourself, what inspired action could you take this week to improve your finances?

Don’t let your finances freak you out!  Respect your future self enough to take care of yourself today!

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