Three Steps to Financial Clarity

3 Steps to Financial Clarity: At Peace With Money

As the holidays set in and the mad rush of preparation begins to slow, you might find yourself with a little time to reflect on your year. Why not take the opportunity to reflect on your finances? Your money, much like all the other pieces of your life, deserves your attention, thought, and critical eye. This exercise is meant to lead you to financial clarity. By completing it, you’ll gain a better understanding of what you want from your money, and how to get there.

Step 1: Define Your Destination

What’s your destination with your money? What are you planning to do with it? Is there something you’re saving up for? You might have vague plans, a well-defined roadmap, or nothing at all. This is the step where you can dream and imagine that destination. If you already have one in mind, check in and make sure it’s where you want to go. Make sure you investigate any current money goals you might have to make sure they really align with your desires. If you don’t have any goals, think of some you might like to adopt!

Step 2: Drop Your Pin

Pinpoint your current location. In other words, figure out where you are now financially.  It’s time to get clear and honest about what you have, what you owe and where your money is going each month. Use this step as an opportunity to total up your expenses and debts and track your recent income. Leave no bill unturned! If you want further instructions on this step, I recommend checking out my article on creating a spending plan, specifically the section on analyzing your expenses. 

Step 3: Plan Your Journey

3 Steps to Financial Clarity: At Peace With MoneyNow that you know where you are and where you’re going, it’s time to figure out how you’ll get there. This is the step where strategy comes in. Based on all the information you’ve already looked at during Step 2, you should be able to determine what will help you get to your destination. Whether that’s saving more money, paying yourself first, cutting out certain expenses, increasing your income, or a whole host of other ideas, identify your moves and decide when you’re going to make them. 

This process may take you a little while to complete, but it will ultimately bring you to a place of much greater clarity when it comes to your finances. This exercise can be applied to personal finances but it can also be applied to your business finances. I hope this season of reflection serves you well.

If you need any assistance looking through your finances, I’m happy to help you reach a place of clarity. Schedule a call with me!

Angela

The Possibilities of Rejection Therapy

The Possibilities of Rejection Therapy: At Peace With Money

Everyone dislikes rejection. So the thought of “rejection therapy” may seem less than enticing at first. But when I came across this idea, I immediately thought of how useful this could be for solopreneurs. How so? By helping us learn to make the big asks!

Learning to Love “No”

In a recent podcast episode, Hillary Hendershott featured Alex Grodnik, an investment banker turned entrepreneur  who discussed “Rejection Therapy”.  His therapy practice is simple: every day he asks for something and tries to get a “no” answer. This regular practice desensitizes him to rejection, and makes it easier for him to ask for what he wants. I think this is a great exercise for any of us: we all need a little help in asking for what we want!

Make the Ask

Rejection therapy is really about encouraging you to make the ask, and remember that the worst case scenario is hearing “no”. Once you’re desensitized to that outcome, it doesn’t feel nearly as scary as it used to! What are some things related to your business that you’ve been wanting to ask for? Maybe this issue comes up for you when you’re negotiating your rates, or looking for new clients, or cutting a deal with someone. Think about the big asks you’ve been needing to make. What if you just made them?

My best ask ever was getting to visit bead makers in Murano, Italy, when I was running my jewelry business. I was planning a trip to Italy, when I realized I would be very near the studio that the beads I used to make my jewelry came from. I had practiced bead making for a little while at that point, and my heart leapt at the thought of getting to visit and observe master bead makers. Before the trip, I reached out to them and they enthusiastically encouraged me to come to their studio. I even got to use their equipment and make beads along with them! If I hadn’t asked, I wouldn’t have had that experience. Making the ask made all the difference.

Can you think of a time when you made a big ask that worked out well? Think of the positive impact it made on your life. Asking is important! I encourage you to try out rejection therapy and work on asking for what you want and need. It will only help your business, and help you achieve your dreams! If you find you need some guidance or coaching, check out my packages under my Services page.

Angela

Image Sources:  Katerina RadvanskaJeremy Galliani