Cracking Down On That Big Ol’ Excuse: Money!
Something I hear a lot from clients, family, friends, workshop attendees when it comes to them contemplating quitting their job, launching their business, or letting go of their soul-sucking clients, is: “but I need the money.”
And of course, this is all very well. We all need money to pay for our outgoings and to live.
But here’s the thing: do you know where your money is going right now? Where’s the rest of your money being spent?
I can certainly speak from experience that when I was in a corporate job, and actually in my business when I started too, I would get paid at the end of the month and spend every single penny I had on ‘stuff’ just because I had it. Eating out, drinking, clothes, make-up, shoes I never wore, a fancy car I drove from home to work.
So ask yourself an honest question: are you spending a lot of your money just because it’s there?
Having recently run a spendings check with a friend, we worked that he was currently drinking, smoking and eating out £900 of his wages every month. From a job he resents going to I might add.
His face went white and he almost vomited in the sink when he realised.
Not only was £900 from a job he loathed going into his body, coming out into the toilet, damaging his health and making him feel really crap, but the things it COULD have paid for made him feel even worse...
Can you imagine if he’d have been saving that £900 a month for the past year, to put into his new business venture? To quit his job and start on his own? To take 3 months out in between jobs to travel? To put a deposit on a house so he could rent it out while he visited friends around the country? To cut down to working part-time?
Yes, he could imagine it too. Hence the white face and near vomiting.
And this isn’t a bid to say: hey, you shouldn’t be spending money. This is to say I’ll bet you have money right now that you’re just spending because you have it, that could otherwise be spent on a bigger plan. And that if you’re miserable with what you're doing right now and you want to do something else, the thought ‘yeah that would be great but what about the money’ can’t be an excuse to dismiss your dreams anymore.
Naturally, it starts by figuring out what that plan is, and staying on track with your finances to make it work. But if you’d have started doing that this time last year, two years ago, where might you be now?
So, it’s time to start thinking about the bigger picture, and not living hand to mouth every month. It’s time to start making that plan for change, and FREEDOM.
Where you start?
Specificity is the golden nugget of all nuggets.
How much specifically do you NEED to be bringing in right now? What ensures you have all your outgoings covered? Business expenses covered? And allows you some of your favourite fun things too?
Get clear on that figure first. As this will really help you to get some focus and reduce that “I need all of the clients to pay for all of the things” panic.
Action Step: Get familiar with your finances and work out how much you’re spending right now, as well as how much is actually a necessity.
Here’s A Downloadable Spend Tracker To Make It Super Easy For You To Do!
Now, here I’m not saying that you have to sacrifice money for living your dream life. Because you can absolutely categorically have both. In fact that’s what I’m encouraging most of all: having a long term plan to build a business that pays, buys you dream holidays and lets you take off Fridays! But if you’re feeling stuck in a rut in your bid for freedom, this is the first step to take stock, recalibrate and reassess what needs to happen next.