Is Your Money Acting Funny And Your Change Acting Strange?

Is Your Money Acting Funny And Your Change Acting Strange?

Coach Dreek

Coach Dreek is a Business Money Coach who helps women with financial management. View profile 


There’s nothing more annoying than opening up social and seeing another Boss Babe sharing how she’s hit another 5-figure month, especially when you’re still struggling to make anything consistently. I get it, you’re happy for her and you want to see her win. But…what about you and what you want? What about the effort you’re putting in and the grind that seems like it never stops?

Sounding familiar yet?

Most women in business think that selling is the holy grail to operating a successful business. And while that’s somewhat true, what most Fempreneurs forget to mention is that you also need a financial plan.

Your money plan allows you to map out where you are, where you want to go, and all the steps in between. So, if you’re ready to hit your money goals each month without working yourself to death, use these simple tactics.



The first step to consistently hitting your money goal is having the ability to see it before you achieve it so that you know what you’re aiming for. One of my favorite things to say is this, “it’s hard to hit a target you cannot see.” So, clearly defining what you want to accomplish will make achieving it easier, but we can’t stop there.

It’s not enough to just define what you want to accomplish, you also need to include why you want to accomplish it. Adding that extra layer of detail will give meaning to the tough days (because there will be tough days) and serve as a constant reminder for why you started this journey in the first place.

For example, if your goal is $10,000 a month.

Instead of saying this: I want to make $10,000 each month.

Say this: I want to profit $10,000 each month to take my family on a lavish vacation every year.

When you do this, you give your goals purpose and they become bigger than you. You will start to make better decisions about how you make, spend and manage your revenue because you’ve attached it to something that’s important to you.



The second step to consistently hitting your money goal is to ensure you’ve incorporated 3 key ingredients: your personal needs, your business’ financial data, and applying the S.M.A.R.T goal formula. As noted above, adding extra layers of detail to your goals will help you to remain disciplined when motivation wears off or the “I don’t feel like it” kicks in.

So, why are your personal needs important when setting your money goals in business?

Most women go into business so that they can have a better life outside of work. It could be out of necessity to remove the income cap, to have more flexibility to be available for family, or any other reason. But whatever your reason, understanding what you need financially to make your desire a reality is an important ingredient in setting money goals you can hit each month.

Personal needs – Questions to consider:

  • What is your minimum wage monthly income? – This means what is the lowest amount of money you can possibly bring home to cover your necessities.
  • What is your comfortable living income? – This means what amount of income will allow you to live a very comfortable life. You can easily cover the things you need and be able to afford some of the things you want.
  • What is your luxury life income? This means what amount of money will allow you to do all the things you dream of doing and more. Ex. Hiring a nanny or chef, multiple trips out of the country each year, working only 2 days a week, etc.

Financial data in your business – Questions to consider:

  • What is your average monthly revenue? – This will help you to see what you are currently bringing in so that you are realistic about your starting place. We’ll cover more on this in the next section.
  • What is your most popular product/service? – Identifying what customers or clients are already interested in will help you use that information to drive more sales to that specific item vs having to establish popularity or desire of a different item.
  • What are your average monthly expenses? – Having a clear understanding about how much you are dishing out each month helps to establish your big picture.
  • Where is most of your spending going? – The easy way to increase profits is to cut expenses. So, identifying where the bulk of your spending is will help you determine which expenses can be cut, if any.

Applying the S.M.A.R.T. goal formula – Questions to consider:

  • Is your goal specific? – This goes back to the first step of visualization. What are you hoping to achieve and why?
  • Is your goal measurable? – This is the process in which you will determine how close (or far) you are from achieving your goal. What milestones will you need to hit in order to achieve your goal?
  • Is your goal attainable? – This is by what means will you use to hit your goal. Ex. What products/services will you sell, what sales strategy will you use, etc.
  • Is your goal realistic? – This means do you have the tools/skills you need to hit your goal or will you need to learn some new things.
  • When do you want to accomplish this goal? – Giving your goal a timeframe helps to keep your goal at the forefront of your efforts and provides you with an additional checkpoint.

Incorporating these key ingredients in your goal setting process makes you 10x more likely to hit your goals consistently. In other words, putting in the additional efforts to understand where you are and where you want to go before working towards your big picture increases your chances of the outcome you desire.



This is the part of the process that is often left out and the main reason you aren’t hitting your goals consistently. Once you’ve visualized your goals and added in all the success ingredients, its time to create a plan of implementation. The easiest way to do this is to reverse engineer your big picture.

Let’s say your goal is to profit $10,000 each month.

*remember that profit means the money left over after subtracting expenses


Step 1. Determine how much you need in sales to profit your goal amount.

Your most popular item costs $100, you have monthly expenses of $2,500, and taxes are roughly 20%.

You’ll need to add in your monthly expenses of $2,500.

$10,000 profit goal + $2,500 average monthly expenses = $12,500

Then, you’ll need to account for taxes.

$12,500 profit goal & expenses x .20 estimated tax rate + $12,500 profit goal & expenses = $15,000

Finally, you’ll need to determine the number of sales you need to make to hit $15,000.

$15,000 profit goal, expenses & taxes / $100 price of popular item = 150

Now we know that in order to hit your monthly goal of profiting $10,000, you must sell 150 of your most popular item at $100 each month.


Step 2. Break your goal’s monthly timeframe into weekly and daily chunks.

How many items do you need to sell each week?

150 items / 4 weeks (average) = 37.5 rounded to 38

Next, how many do you need to sell each day?

38 weekly items / 7 days = 5.43 rounded to 6


Step 3. Determine what needs to happen to make 6 sales each day.

Whatever method you decide to use to reach your 6 sales a day, be sure to remain consistent. Also, remember to make any adjustments in your calculations if your method of choice includes advertising & marketing or increasing your prices. The most important thing to remember is that you find what works and stick with it.

How well do your current goals attribute to the success of you hitting them?

What adjustments will you make today to ensure you are chasing attainable goals?


Short Article Review  

  • Your goals need a beginning, middle and end. Think about where you are, where you want to go, and the steps needed to get there.
  • Give your goals meaning and purpose. Visualize more than just what you want to make each month but also why you want to make it. This will drive you during the not so good days.
  • Set wholistic goals. Be sure to include every aspect of why you are in business to make entrepreneurship worth it.
  • Map out the process. Know exactly what you need to do each day each week, and each month so that you stay on track.
  • Make any necessary adjustment. Don’t be afraid to go back to the drawing board or switch up your approach.
  • Be consistent. You can not achieve your goals if you don’t consistently follow your success plan.

The content in this article is for informational purposes only and is not intended as legal, tax, investment, financial or other advice.  Always seek the advice of a licensed professional regarding any financial questions you may have. 

The Post Is Your Money Acting Funny And Your Change Acting Strange? appeared first on Womanly Inspiration.

You or Your Partner? No More Fights On Who Is The Breadwinner

You or Your Partner? No More Fights On Who Is The Breadwinner

Rashmi Schramm MD

Tong (Toni) Liu MD is a Cartoonist, Life Coach, and Family Physician focused on women’s preventative care.  View profile

One of the top stressors for couples is money.

Just a century ago, there were very clear rules for who served as the “Breadwinner” for the household.

In modern society, however, women have rightfully gained the opportunities to work and support themselves!

However, old traditions can still run deep on a subconscious level.

Many women still end up the primary caregiver for their families, either by choice or pressure.


Breadwinner Battles

What if there was a way to create your own Breadwinner, completely separate from you AND your partner?

Now there IS such an option.

It’s called “Financial Independence (+/- Retire Early)” – the “FIRE” movement.

It sounds hokey, but it has worked for so many people, and it can be reproduced by ANYONE.

Most of us have never been taught anything about finances, including myself. This is probably why the average savings rate for Americans is an appalling 5%.

Wealthy people understand the power of compound interest. Money can actually make more money; money can work FOR you, rather than you working FOR money.


Isn’t the Stock Market just Gambling?

I used to be completely against investing in the stock market. I saw it as gambling and too risky, especially for someone as risk-averse as I was.

Individual stocks for individual companies may be too risky, since you could lose everything you put into it if the company went bankrupt.

However, a well-kept secret is a type of stock called an “Index Fund,” such as the S&P500, which is the average of the 500 top-performing companies.

They can never all go bankrupt at the same time. If one company does poorly and drops out of the top 500, you will automatically get the new one who takes its spot.

This is like betting on the casino – the casino may win and lose money to players, but OVERALL the casino ALWAYS wins (that’s how they stay in business).

Learning about Index Funds and how ANYONE can make an Investment Portfolio and reach Financial Independence, was life-changing.


Simple Calculations

And the math is surprisingly simple.

Calculate the amount you need to save up with this FIREcalculator (! It tells you, with your current living expenses, income, and savings rate, how many years you’d need to work to achieve Financial Independence.

Even with fluctuations, overall your money grows by 6-8% interest each year once invested (and there are even some stocks who pay you money regularly called “dividends” even if the company did poorly and lost money).


The Ultimate Freedom

If you save up enough so that 4% of that interest can fully cover your living expenses, then you have achieved “Financial Independence.” Meaning, you NEVER need to work for money again. You know you will be ok if you NEVER made another cent in your life.

You will have more freedom, control, and power over your life. You can say yes only to the jobs that excite you, go part-time, or do volunteer work that lights you up, rather than feeling you ever “have to” take a job ever again because you need the money.

This is SO powerful. It means that your Portfolio will be the Breadwinner for you, your partner, and your family. Your Porfolio will make money for you while you sleep, and will always be there for you to rely on.


Questions and Concerns

I know there are still so many fears and uncertainties, such as what if the stock market does really poorly or the laws change?

The Index Funds have recovered from all the stock market crashes and depressions in history, and ended up even better off than before.

The stock market even recovered after Covid-19 hit. It dropped in March but now, just 6 months later, is back to where it was, and doing even better!


Can FIRE work for me?

YES!! FIRE is not a myth, or accessible for only the high income earners.

ANYONE can do it, with some planning, discipline, and taking a long hard look at what truly brings you joy and what are just excessive expenses that you’re spending just because society tells you you “should.”

The point is not to deprive yourself. Everyone’s living expenses and “FIRE number” will be different.

The FIRE movement empowers and brings more mindfulness to our financial choices, which in turn will improve all other areas of our lives.

There are some details which I felt may be too overwhelming to share in this article. I’m more than happy to send you resources and/or sit down with you to discuss more! Reach out to me anytime or comment below.

We live in a fast-paced, ever-changing society. The role of Breadwinner doesn’t need to belong to men or women. We are not boxed in. Let’s break boundaries together!


Short Article Review

  • Money is a huge stressor for couples and a root cause of arguments.
  • Men have been the traditional “Breadwinner,” but now women are leveling the playing field. But what if there was a 3rd option?
  • Financial Independence (+/- Retire Early) “FIRE” movement states that you can set up money to make more money for you by using broad stock market Index Funds.
  • These are less risky than individual stocks and there is zero chance of you losing all the money you put in.
  • Once 4% of your investment profits cover your living expenses, you never have to work for money again. Your investment Portfolio will be your Breadwinner, and you and your partner will have more freedom, ease, and power over your precious time and energy!

The content in this article is for informational purposes only and is not intended as legal, tax, investment, financial or other advice.  Always seek the advice of a licensed professional regarding any financial questions you may have.   

The Post You or Your Partner? No More Fights On Who Is The Breadwinner appeared first on Womanly Inspiration.

Manage Your Business Finances Like a CFO

Manage Your Business Finances Like a CFO

Elaine Co

Elaine Co is a a Chartered Professional Accountant, and fellow entrepreneur who helps small businesses with their bookkeeping and taxes. View profile 


As an entrepreneur, there are always a million other things that seem more important than managing your business finances. From updating your website to creating that next social media post, it’s easy to let your accounting and finances fall by the wayside.

However, if you are serious about growing your business, managing your business finances is something you need to prioritize. 

Knowing your numbers is key to growing your profits. 

By knowing your numbers, you’ll understand what’s working in your business and what’s not, and make adjustments before it’s too late.

The truth is, no one is going to care more about your business than you. You need to be your own CFO. 

Here are some guidelines to follow to manage your business finances as your own CFO.

1.  Stay up to date with your bookkeeping

Having up-to-date bookkeeping is the foundation of getting the financial side of your business organized. It provides you with the tools and knowledge to make smart business decisions that will ultimately increase your profits and grow your business. 

This starts with having a system to track your income and expenses. This can either be done in a spreadsheet, or in an accounting software like Quickbooks Online.

If you’re a new entrepreneur in the side-hustle stage with a small number of transactions, a spreadsheet will typically be sufficient. However, if your business has more complex transactions or if you’re in your business for the long haul, I strongly recommend investing in software. 

What happens when you ignore your bookkeeping?

  • You don’t catch mistakes in time which can cost you time and money. 
  • You’re stressed come tax time when you’re stuck with doing a year’s worth of bookkeeping at once.
  • You miss deadlines and pay unnecessary penalties and interests.

Regular bookkeeping allows you to be proactive with your decisions, and plan for what’s coming up. 

An important part of bookkeeping is making sure you have the proper documents and records to support your revenue and expenses. 

Organizing and storing your receipts is a must. If you are ever audited, the government will want to see the invoices and receipts to back up what you’ve put through your tax return.

If you find yourself ignoring your bookkeeping because you’re too busy running the day-to-day operations of your business, consider outsourcing your bookkeeping. The investment will be worth the gain.

2.  Analyze your numbers every month

Your numbers tell the story of how your business is doing.

After your bookkeeping is done for the month, the next step is to analyze your numbers.

Take a look at your revenues, expenses, and net profit. Then pull up your accounts receivable and accounts payable reports.

These are some of the questions you should ask yourself:

  • Were you profitable last month? Or did you have a loss?
  • What was your highest revenue stream and how can you focus more on it?
  • What was your biggest expense? Is this contributing to your business, or can you eliminate or reduce it?
  • How much do my customers owe me and should I be following up with any of them for payment?
  • How much do I owe my suppliers, and do I have enough cash to make the payments?


It’s so important to go over your numbers each month and strategize on how you can improve them next month.

If you work with a bookkeeper or accountant on an ongoing basis, it will be especially helpful to work on this exercise together. 

3.  Have a cash flow plan

I’m sure you’ve heard of the phrase “cash is king”. This is very much true, and running out of cash is one of the top reasons businesses fail. 

Set up a cash flow plan that includes the timing and amount of cash coming in and cash going out, so that you can predict things like:

When will you run out of cash and will need to invest money into the business from personal funds?

Or the opposite – when will you have a cash surplus, so you can reinvest back into your business or pay yourself back?

This can simply be done in a spreadsheet. You don’t need any fancy apps or software. 

A good cash flow forecast or plan will ensure you’re able to pay your bills, pay yourself, and set aside money for taxes. 

4.  Understand your tax obligations as an entrepreneur

A common mistake made by new entrepreneurs is not understanding what their tax obligations are. 

As a business owner, things such as sales tax, income tax instalments, and payroll taxes come into play that new entrepreneurs don’t realize.

Do you need to register for, collect and remit sales tax?

Do you need to make estimated tax instalments? If so, when are the due dates?

How much taxes do you need to set aside each month so you’re not hit with a huge tax bill you weren’t prepared for?

These are just some of the questions you should know the answers to. 

Knowing your obligations and taking care of these ahead of time can save you headache and unnecessary penalties and interests down the road, and most importantly, help avoid mistakes. 

Make sure you do your research or consult with a professional to get educated on your tax obligations.


Remember, bookkeeping and dealing with your business finances isn’t something you do once a year just to file taxes.

Make it a part of your monthly to-do list where you sit down and go over what’s going on in your business.

Take the time to understand your business numbers. Look at them regularly, and use them to make smart business decisions that will help you reach your goals.


Short Article Review 

  • As a business owner, managing your business finances is a must if you want to grow your business and profits.
  • Take the time to understand your numbers and make it a priority to analyze your numbers every month.
  • Staying up to date with your bookkeeping is the foundation to getting your finances organized and will make tax time less stressful.
  • Monitoring your cash flow allows you to be proactive with your money. By having a cash flow plan, you can control the amount and timing of your cash ins and outs.
  • Make sure you understand your tax obligations as an entrepreneur. Getting educated in this area will save you headache and penalties, and most importantly, help avoid mistakes.


The content in this article is for informational purposes only and is not intended as legal, tax, investment, financial or other advice.  Always seek the advice of a licensed professional regarding any financial questions you may have. 

The Post Manage Your Business Finances Like a CFO appeared first on Womanly Inspiration.

Are You In A Bad Romance With Money?

Are You In A Bad Romance With Money?

Elodie Petitjean is a holistic coach, serving women desiring to craft their own extraordinary life. View profile 


How would you describe your relationship with money? Is it a love and hate relationship? Is money your lover and pouring into your life easily? Is money the source of all evil?

Money is not the issue, it’s what you think about money that is!

“A thought is harmless unless we believe it. It’s not our thoughts, but our attachment to our thoughts, that causes suffering. Attaching to a thought means believing that it’s true, without inquiring. A belief is a thought that we’ve been attaching to, often for years.”

Byron Katie, Loving What Is: Four Questions That Can Change Your Life

It’s what we think about money that is responsible for our financial situation. What we think about money is what is real and true for us; even if it is not logical and crazy for us. The brain does not make a difference between right and wrong, it believes what we believe in. Often, these beliefs are not even conscious or cognitive, we acquire them as we grow up and if we do not question them, they become our reality. The good news is that you have the power to change them!


The Biggest Lie

Before we dive into your thoughts about money, let’s dismiss a big lie! Money is not the source of creation, you are! Do you remember the last time you wanted something so badly and you did not have the money for it yet? Remember this, how old were you? Did you create the money with an extra job, sold your belongings, borrowed money from your parents, took a loan? Did the lack of money stop you back then? No, right? You found a way to create this extra money because you wanted this so much. And then, you forgot how potent and magical you truly are to manifest what you truly desire.

When we grow up, we often use money as an excuse or justification for what we cannot or will not do, choose or have. Just be aware of what you think and say with money and everything else. Every word and thought you use are a blueprint to create your future.


Your Point Of Views Creates Your Financial Reality

To start with, what do you think about money?

  • Is money bad, the source of all evil?
  • Does money change people, relationship?
  • Money doesn’t grow on tree?
  • Money doesn’t buy happiness?
  • Money is not important?

List Everything That Comes To Your Mind When You Think About Money, Either Negative or Positive. I bet you will be more negative and that’s totally ok!

Next, what do you think about rich people?

  • Are they good or bad people?
  • Are they generous, caring or contrary selfish, bloodsucker, self-interested?
  • Have they made money fast, is it clean money?
  • Are poor people big hearted?

Let yourself be wild and list everything that you think about people having money.


What Is Your Truth About Money?

Now, look closely at all the things you just listed. All the things you catalogued about money are all limiting beliefs, lies, points of view that keeps you from creating, having, saving, spending, sharing money. Are these thoughts, beliefs, points of views yours or your parents, partner, family, friends, colleague or friends’ point of views about money?

Go back to your childhood now, what have you heard about money? What was your parent’s relationship with money? Was money a taboo or was it a topic to discuss freely at dinner? Did you lack money as a child? Did you hear your parents say : “We cannot afford this”?

What did you hear about money in your community, church? If we grow up with limiting beliefs about money, there is a pretty good chance that we will adopt them as real & true as we grew up. Your point of views about money, business, rich people, poverty will influence your money flows. You can now choose to keep only the beliefs, point of views that are actually true for you.


Money Is Energy

I would like for you to have a new perspective about money. Money is energy, like joy, gratitude, kindness. Money is inside of us. Money is all about allowing yourself to receive more. When you allow money to be part of your life, you will have more money. Money does not not buy happiness however it does contribute to create even more possibilities. Money was created by us a long time ago when the barter system was no longer working. Money did gather all religions, cultures & races, together. It was the first time people were unified using money.


A New Vibe For Your Brain

Remember earlier, I told you your thoughts and words you are using are a blueprint to create your future. You have approximately 60,000 thoughts a day. They are all old and recycled thoughts. So to change your frequency, change your thoughts. Self suggestions are really potent and powerful to program your brain with new empowering thoughts about money. It gives your brain a new melody to play. I challenge you to repeat out loud these affirmations, in front of you mirror every morning for the next 30 days, 3 times each: 

  • Money is important to me.
  • I really appreciate money.
  • I love money and money loves money.
  • I love making money.
  • I make money easily.
  • Money is energy.
  • I have enough money in my bank account and in my pocket.
  • I have enough money to spare and share and enough to show I care.
  • The more comfortable I am with money, the more powerful I become.
  • Talking about money is easy for me.

If some affirmations sound wrong for you, just keep practicing and see if it lightens up over the next few days. If you come up with your own positive affirmation go for it! Your own affirmations, mantras will always be more powerful.

What new point of views could you adopt to support a positive attitude and create more money in your life?

What is your biggest takeaway, insight?


Short Article Review 

  • Be aware of your thoughts. your thoughts with and around money are the ones responsible for your current financial reality.
  • Money is not the source of creation, you are! You are in charge of your money life.
  • Are these limiting thoughts even yours? Select only the point of views that are real and true for you about money. Dismiss all the rest.
  • Money is energy. Allow yourself to receive money. Money gives you more possibilities.
  • A new vibe for your brain. Choose empowering and supporting affirmations about money and practice them every day.


The content in this article is for informational purposes only and is not intended as legal, tax, investment, financial or other advice.  Always seek the advice of a licensed professional regarding any financial questions you may have. 

The Post Are You In a Bad Romance With Money? appeared first on Womanly Inspiration.

What Nobody Will Tell You About Financial Security

What Nobody Will Tell You About Financial Security

Renae Jayeola is a Wealth Coach specializing in helping women achieve financial and personal mastery. View profile

The finance industry often operates under a shroud of mystery. You don’t get a lot of information about how wealth gets made when it comes to planning your finances.  I want to lift the veil and share my easy 8-step method for creating a solid financial and wealth-building plan.

If you’ve ever wanted clarity and direction that helps guide you in accomplishing your money goals, then you’re reading the right article. Some of the educators in the industry just give high-level teachings without actionable steps. 

My goal? To get you closer to that vision you have in your head of what you want your life to be, without having to worry about money. This is the inside scoop that only the people who know, know but I think it’s only right that you know too.


Step 1. Write down your goals. 

When writing your goals, make sure they’re action-based instead of results-based. For example, “I’ll buy a home in two years with $10,000 saved for a down payment” versus “I want to buy a house.” Your goals could be anything, from a luxury holiday to early retirement. But make them as specific as possible, and with a timeline so you can track your progress towards achieving them. 


Step 2. Release Money Blocks and Upgrade Your Money Mindset.  

“Money Blocks” are the emotional and psychological elements that prevent you from achieving and maintaining wealth.

 They can show up in 2 ways:

 1.  As you’re working towards a financial goal, it sabotages you along the way so you never reach it. 

2.  They pop up after you’ve achieved this financial goal, sabotage your success and essentially take it all away.

These money blocks primarily exist in our mind. And our mind is a powerful tool for attaining and maintaining financial success. The ways to work through them vary depending upon the person. The key part is having an awareness of how they show up in your life, then finding the RIGHT mindset techniques to remove them. 


Step 3. Build up emergency and sinking funds. 

Emergency and sinking funds give a safety net between you and life’s unknowns. An emergency fund is saving for unplanned expenses, e.g. a job loss, or broken laptop. A sinking fund is an account for upcoming expenses like car repairs or planning a wedding, etc. Sinking funds can act as another layer of protection to your emergency fund when you build both into your financial planning. 


Step 4. Debt Pay-off (if applicable). 

Good debt generates income and increases your net worth. E.g, a mortgage on a rental property, using ‘leverage’ to buy stocks or trade currencies, and so on. But bad debt limits you from being able to achieve your financial goals. This is debt on credit cards, student loans, etc. If you have any bad debt, create a plan to pay it off quickly. If possible, make extra payments above the minimum required payment to accelerate becoming debt-free.


Step 5. Start investing for the long term

The most powerful tool for your income to build wealth is compound interest. With the power of compounding interest, your money can grow exponentially over the years.  The earlier you start investing, the greater effect this compounding will have on your sense of security and your financial freedom. This could be investing in real estate, the stock market, and in business. Now this invested money will be paying you year after year in the future.


Step 6. Reduce your taxes

There are lots of legal ways to save on your taxes and build wealth faster. The tax-efficient investments should be specific to your circumstances. Some of these examples include: ISAs, as investors don’t have to pay any personal income tax or capital gains tax on any income or profits. Personal pensions can also be a great way to minimize income tax, capital gains tax and inheritance tax. You can also do a lot of write-offs on taxes if you have your own business. 

Step 7. Get the right type of protection in place 

There are a set of must-have documents that protect you, what you have, and those who depend on you financially: wills, living trusts, enduring powers of attorney, living wills and insurances. Think about estate planning on how you’ll transition your wealth to your family when you’re no longer here. When the time comes, how would you like your money and property distributed? Remember to talk to the trustees or the people that you’re naming in your estate documents. 

Step 8. Review your plan frequently and stay the course.  

To get the most out of this plan, you have to stick to it! Figure out what motivates you and use that to help you keep the momentum up day after day. Sometimes life circumstances change, or goals and timelines may change. Adjust accordingly and reflect on whatever lessons you learned so you can make smart decisions going forward.


How can a financial professional help?

What does all this insider information tell us? Well, it means that trying to achieve financial freedom and create generational wealth is a lot more complicated than most will make it out to be. It’s really hard to navigate without help. I’m not saying it’s impossible. People do it, but the road is a lot longer than it has to be

Getting help from a financial professional can help you meet your unique financial needs and goals. The professional has experience looking at the terrain, understanding what it takes to be able to achieve success.


Financial Advisor vs Financial Planner vs Financial Coach?

A Financial Advisor is a professional who helps manage your money. Financial Advisor is a general term that might include stockbrokers, insurance agents, money managers, estate planners, bankers and much more.

The financial planner is one type of financial advisor who helps individuals create a program to meet short and long-term goals. The planner might have a specialty in investments, taxes, retirement and or estate planning.

A financial coach helps clients understand financial literacy and create new money habits and behaviors, so they have the tools and strengths to manage, save and grow their money successfully. The coach might specialize in mindset, cash-flow, investing and much more.


Short Article Review 

  • Why is a financial plan important: It gives you peace of mind, allows you to afford the things that you want, and helps you achieve your long-term life and financial goals.
  • Winning mindset: Where success is 20% Strategy and 80% Psychology.  Ensure how sound the psychology you operate with is to increase your certainty for success.
  • Action Items: Have a plan for your money. Consider planning for things such as emergencies, retirement, investment portfolio, insurance, estate planning, tax, etc. 
  • Plan Type: Are you planning for just yourself? Partner? Dependents? Knowing what type of plan you’re creating makes it easier to build all these different aspects in. 
  • Take action: Now that you know how to create a solid financial plan, there’s just one thing left for you to do: take action. Get to it, and soon you’ll be financially free!

    The content in this article is for informational purposes only and is not intended as legal, tax, investment, financial or other advice.  Always seek the advice of a licensed professional regarding any financial questions you may have. 


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