Are you desperate to master money?
In my line of work, I find that sometimes the thing that stops uber-talented people from stepping up and investing in themselves further, with the last bit of the puzzle, is the fact that they have already heavily invested in themselves, and have courses and trainings and business investments sitting on personal credit cards.
These debts can feel like a weight around the neck, constantly stopping you from doing what you would naturally do working your way to success.
So how can working within your wealth profile help you shake free of this weight, and effectively help you pay off what you owe?
Read on for the first 5 steps on this journey:
- Get Into Flow And Focus On Constantly Increasing Your Flow…
As we’ve talked about many times on this blog, your wealth profile helps you identify where your Money Mojo is, and how to do more of the things that fit with your Mojo. Basically boiled down this can be summarized as do more of the stuff you enjoy doing. Take a business view of things, even if you don’t have a business – and get rid of the stuff that pulls you down. You’re going to need all the energy you need focussed in the right direction to get you to where you plan to be.
2.Increase Your Income
Once you know where your flow is, use it to increase your income. If you’re a Supporter profile and you run your own solicitor’s firm, find new clients by going out and mixing with more people. If you’re a Mechanic profile and you’re a web designer, use online marketing strategies to attract more paying jobs.
3. Cut Down On The Stuff That Doesn’t Make You Money
I know, I know, if you’re building a business you need to invest time and effort into getting the jumbo jet off the deck. That goes without saying. What I’m talking about is the long shots, and the things with a long gestation period. Duncan Banatyne advocates in tough times “focus on cash flow – this is the life blood of your business”. Unless you’re monetising your activity your hard work and efforts are like spinning wheels on a stuck truck. We need to get you road bound and if you’re not pulling in cash from your activities you need to be honest with yourself as to whether you’re putting something else off, but being busy, or whether you’re holding on to the debt for some other reason. Sound nuts, but it happens.
4. Decrease Outgoings
If a membership site isn’t giving you what you really need right now, cancel the membership and put that outgoing towards paying off your debt. If you have tendency to fritter – make a list of the things you fritter on, and make a decision to cut them out. Calculate the saving, and put that towards paying off the debt.
5. Adopt A Strategy Towards Paying Off Your Debts That Increases Your Sense Of Abundance And Feelings Of Security.
What? How can I feel abundant if I’m in debt?!! Are you out of your mind Laura?!
Yeah – I hear that a lot. The thing is, often when people are in debt, they feel out of control and not safe. When we’re in this state, we do things we wouldn’t do if we were feeling fine. We distract ourselves, we drink more, we watch mindless tv, we avoid getting around the right people, we get ill, we feel constantly tired, we avoid doing the few things which will ultimately help us get back in control.
Sometimes we just need a nudge in the right direction.
Sometimes we need some help in letting go of the debilitating emotions.
And sometimes we just need some sensible advice to get us running on the right track again.