Money talks are not uncommon, but sometimes, we just don’t go deep enough, or at least can’t.
Do you feel like you’ve got control of your money?
If you do then you’re part of the small percentage of people who do. Most people don’t have any control, or any idea what comes in, or goes out.
Most people stick their heads in the sand when it comes to money, and it seems to drift from one place to another with no control.
Most people feel ashamed about their money situation and never talk about it. I’ve seen this with so many of the clients I work with and I’d love to tell you a short story today about one of my clients – Mary-Anne.
MARY ANNE’S STORY
Not so long ago, we were talking about money. She was really interested in the subject because she was a manager at a large company.
She had the responsibility of managing huge chunks of money coming in and out of the business which was no problem for her at all. In fact, she was very good at her job!
She was not in the accountant department but she had this control! Amazing, right?
Good at math with a structured mind, to her the numbers are just numbers – no matter how big. She seldom failed with the reports and she was a well-respected employee but had a fear that someone would find out what she really didn’t understand, and think she was a fake when it comes to money.
HER REALITY
Since the numbers are so big in business, to her it was such large numbers – not money or economy – but just figures that she mastered to handle.
But she had no clue when it came to looking after her own money…
In fact, her husband had more control over their private financial situation compared to her. So she came to me feeling so ashamed that she didn’t have control of her own money at home.
She had had a shortage in her bank account and she did not know why. And she had got a warning on her credit card that she had reached the limit for the month. Her husband had helped but said that it’s just going to be temporary so nothing to worry about.
When things get tough, we deny it, so it’s very common for us to say it is temporary. Many people take short-term loans to cover up – and then another loan and then another….until you know what happens next.
It is so easy today to get a quick loan – and if you keep your head there – stuck in the sand – things can get really nasty.
MONEY + DREAMS
Or… nightmares?
Mary-Anne wanted to figure out her money situation because money started to pop up in her dreams – and they became nightmares – and she longed for help so she could sleep well at night.
She’d spent countless hours searching and found online courses and programs that told her what to do.
She began creating a detailed chart to track her money which was helpful. It was working. But the problem was she never really got to the bottom of her problem with money – she did not know what to do with the chart – it looked right but about what???
THE FIRST VISIT
On the first visit to speak with Mary-Anne, we figured out that the number one priority was to create a cash flow chart to see the money that comes in vs. the money that goes out.
We worked on this for 30 days – noting every penny going in either direction – and when we had a result her reaction was ‘WOW!’
‘Everything’s coming in and going out just as fast, what are we spending our money on?’
Both Mary-Ann and her husband had good jobs and 2 kids who had left the nest so they were in a good position.
THE PLAN
After coming to the conclusion of a quick turnaround of the money in her pocket, her next task was to create an annual budget for the next 12 months.
But before she did that she had to look deeper at where she spent her money – or rather where they spent their money?
Writing it all down – in needed and not needed.
REMEMBER, IT ALL ADDS UP…
You see, most people who have enough money don’t reflect – I can afford this – and that – and this – and that – not taking into account that it all adds up.
So now, she has her cash flow chart in control, and has an annual budget for the next 12 months – a task she had never done before, and never thought that she’d ever need to.
“What can I plan, what do I have control over, what things are necessary – and what do they cost?”
THE FINALE
When she was satisfied with the annual budget we created together, the final part was to look at her income.
During our session, we dug deep to find out where her main source of money was coming from. Most of it came as her salary but there were a couple of capital minor streams that she really never understood.
Mary-Anne worked hard on this. In fact, she even got her husband to do precisely the same with his income and expenses.
It’s critical that you work out your income and expenses with those whom you are responsible for. Or responsible with.
Because… Only once you’ve got all this under control can you begin to change.
MONEY MANAGEMENT
If you want to change & improve your money situation, you must evaluate where you’re at right now.
Managing your money is much like a car navigation system….
You must know where you’re at FIRST before you put in your destination.
It’s also a great idea to ask someone for help and guidance. Sometimes, it’s best to get an outside view from somebody else. They might see things that you’re missing.
And it’s also where most people who are struggling are going wrong… They always seem to forget professional help.
ACCOUNTABILITY PARTNER
You’re much more likely to achieve your goals and improve your money situation if you’ve got somebody by your side who can keep you accountable. Try not to bat an eye when your partner tells you something about handling money, and also if you know something that could help them, do it too.
OUR INSTINCT IN HANDLING MONEY
Unless we are properly informed, have a financial manager, or have attended financial classes… We inherit most of our behavior patterns from our parents in our young years. What is told about money when we are young becomes our internal belief about money, and we also tend to believe what we see, so whatever we see in them when it comes to handling money, we tend to follow as well.
Fact is, if our parents always talked in terms of scarcity – we would act in terms of scarcity.
Money can become a burden – what will people think? And we make foolish decisions and money just glides through your fingers, or just all gone in one snap – that fast.
Rich people can also become very greedy, and all this crazy behavior around money is because the subject holds all these feelings and is rooted from young years.
And still – money is just paper and some metal – or a number in the bank account.
ABOUT MYSELF
I am not a money coach or mentor – I work with stress – and money pops up often as the underlying cause of stress. What worked for Mary Anne might not work for you, as every solution is on a case-to-case basis and no one-size solution fits all.
ABOUT YOU
You’d want to avoid the situations mentioned above, or problems involving money, especially at work, and the stress that it causes.
If you’d want be able to tackle from the base of it all, see HERE to find out if we’re a good fit.
On the other hand, if you’re looking for more easily accessible resources for self-development and overall health, here’s a free e-book access for you.
To your success and keep smiling,
