My Current Financial Goals!

So frequently, I talk about goals and planning and money systems here. But rarely do I share with you what’s going on behind the scenes for me. Today I want to give you all a look into my financial goals, and how systems work in my business.

System at Work

In my own business, I use a money mapping system that helps me allocate funds from my business for different purposes. If you haven’t read my full series on money mapping, I recommend doing so by clicking on the links above. My money mapping system helps me to allocate a portion of the income I make for saving up for my financial goals. I have a habit of over-saving, so it’s important for me to have a system in place that helps me navigate how much to spend and how much to save. If this sounds familiar to you too, check out my article on over-saving, and how overcoming it can help you! Making this discovery has definitely been helpful for me.

Goals: Big and Small

The goals that I’m currently leveraging my money system to save up for range from small things to big life events. Last November, I bought a 2016 Rav-4, so one of the goals I’m working on is paying off my car loan. I am also saving up to do a motorcycle tour of New Zealand! Originally I had a target date for this goal, but now things depend on when COVID-19 is no longer an issue, so things are a bit more flexible. You can read more about my motorcycling journey (and how being a small business owner helped me with that!) here. My last goal has less to do with saving and more with just practicing good financial hygiene. My husband is hoping to retire soon, so we’re keeping an eye on our spending to make sure we can live within our means when that happens!

Hopefully this post has given you a flavor for my goals, and helped you think about what yours might be too! For more help here, check out my article “Know Your Money Why.”

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Angela

 

How Starting My Business Helped Me Live My Motorcycle Dreams

Earlier this month, I completed my fifth annual 1,400-mile cross-country motorcycle road trip. This is my third year riding my own bike, and my third year riding on my dream motorcycle, a red Indian.

I haven’t always been a motorcyclist. The first two years of this trip, I rode on the back of my husband’s bike. But after that second trip, I decided I wanted to learn how to ride. I completed my local motorcycle safety program and got my license. We bought a Honda Rebel 250 and I set a goal to ride my first 500 miles. Then I set my sights on a bigger bike, more mileage, and a longer trip.

Living my motorcycle dreams involved a long process of incremental growth, a flexible schedule, and some money. I had all of these things because I was a seasoned business owner. While I’ve been working under the name At Peace With Money for about three years, I have a much longer history of doing independent bookkeeping work, and before that I ran a jewelry design business. The skills I gained as a solopreneur – dedication, commitment to incremental progress, etc. translated well into becoming a motorcyclist.

I also have a flexible schedule as a solopreneur, which meant I could find the time during the week for lessons and rides. And I had the ability to pay for a course, because of my financial savvy in my own business experiences. I find that solopreneurship can be full of valuable lessons, and can give you the skillsets and necessary resources to accomplish the things you’ve dreamed up. That’s why my objective with At Peace With Money is to help solopreneurs align their business profits with their life goals; because I think it’s 100% possible!

I hope this little pep-talk give you a dose of inspiration for the week. Think of a dream you’ve always had. How could you orient your business to focus on achieving it? You might also like to read How to Start a Goal-Based Business for more thoughts on this subject.

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Angela

 

There is No Wrong Choice

When you run your own business, you make a lot of decisions, mostly on your own. That grants you enormous freedom, but also leaves you with immense responsibility. This responsibility often hangs over our heads: what if we don’t make the right choice? We stall the flow of our businesses by avoiding tough decisions.

I, for one, have definitely struggled with this. When I was running my jewelry business as a full time project, I often put off making decisions. My avoidance of them was fear-based and emotional. I felt like I had to nail every choice and do everything by myself. Not having anyone else to bounce my ideas off of left me frozen and fearful. You can read more about my experience running my jewelry business here

Since then, one of my major breakthroughs was realizing that there is no wrong decision. No matter what I decide to do in my business, I am always able to learn from that choice. If something I do turns out to be a mistake, I find a way to recover and learn not to repeat the misstep. However, I find that the vast majority of choices I make in my business are not typically so high-stakes. Often, I’m making choices about how to utilize social media, what to include in a proposal to a client, etc. I can agonize over the details, but at the end of the day, every choice I make is just another step in a larger experiment: my business! And the purpose of my business is to support me and my life goals – the choices I make within it don’t need to be stressful or fear-fraught.

What are some strategies that could help you breeze through decision making with your business? Perhaps you can get comfortable trying out systems and ideas on a trial basis. Maybe it would be helpful for you to find an accountability buddy to talk to and discuss ideas with. Perhaps hiring on an employee or contractor and delegating some of your workload can take some of the pressure off. It could be helpful to journal and investigate the fear or emotions that are blocking you from making a decision. Simply approaching your business with the mindset that you can learn from all your choices can also help alleviate this.

Making decisions in your business confidently and with an air of curiosity and experimentation can make your business more fun for you. And really, isn’t that what we want?

I hope this post inspired you to go forth confidently and make any moves you’ve been stalling. Go get ’em, tiger! If you find you could benefit from an accountability partner and you’d like guidance around your financial systems, I absolutely love to support solopreneurs around these things. Head on over to my Services page, and schedule a call with me.

Angela

Image Source: Amy Shamblen