When it comes to money, we are usually so sure about how much we can have, how to make it, and all the reasons why we don’t have enough. Debt, spending and pleasure are on our minds, but hate? Looking at myself and my love-hate relationship with money changed my completely changed my financial situation. Now I know I love money, I enjoy having it and I have no debt. I would like to share some questions and tools that helped me on my journey to becoming my own financial guru.
How much money do you have? Look at how much money you have, not how much you spend or earn, but the amount you have once you’ve taken all those expenses into account. I used to have none. I had a good salary, and lots of possessions, but I had no money. I lived from paycheck to paycheck and, credit cards, a car and a house with pending payments.
Are you creating your wealth, or think you deserve it? My secret fantasies were having a handsome prince (or entrepreneur) fall in love with me, and becoming a trophy wife, or finally being recognised at work as a valuable commodity, becoming part of the board (with the corresponding raise of course!). But when it came to create my wealth, I didn’t have the slightest idea what that was.
I loved money while acting as if I hated it. No wonder I didn’t have any. It was only after I used the below tools that I transformed my relationship with money, and allowed myself to earn, create and have the money I truly desired.
1. Be willing to have money
When you are willing to have money, you stop being focused on “not enough” or just getting by or spending it all. Start keeping 10 percent of every dollar you earn, and keep it in a savings account. This starts training you to have money. People who truly love money are willing to have it and spend it. But spend it too often, and you start to resent money (and the people you believe have more than you!)
2. Commit to creating wealth
Take a look at your finances. And be brutally honest with what’s actually going on. Figure out exactly how much you owe, the income you have each month and all your monthly expenses, down to the cent. I was terrified about doing this exercise, but you cannot love something you fear. After committing to keeping track of my money, I found myself making wiser choices about my money, and also, when I started setting aside that 10% of my income, I was surprised by how much money I really earned.
3. Educate yourself about money
I used to think that learning about money was the most boring thing in the world. But when you love something, you want to know all about it right? Fun and free trainings online are a great place to start and you can build up your knowledge, so you can understand more about money and managing your finances. While some may still find it boring, you will find that building this knowledge will pay off in the future, and you’ll reap the rewards sooner than you think.
4. Ask for the money
If you think you deserve a raise, ask for it. If someone owes you money, ask them to pay. You might fear them thinking you are greedy, but having the willingness to receive money is just as important as giving.
5. Use your money to make money
Do you have a hobby that has the potential to become a profitable side business? You could make extra money while doing something that brings you a lot of joy. Or would rather invest in something? Learn about the stock market, try your hand at investing and see if it’s something you enjoy doing.
6. Be willing to be kind to yourself
I used to spend so much time worrying about money and judging myself for the choices I was making. When I started focusing on what I could do that day to create wealth and have money instead of beating myself up, it became much easier and fun.
The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.
This story originally appeared on Women's Health.