We’re on episode 53 of the Fearless Business podcast. This episode sees something a bit different, with Fearless coach Kate Hunter discussing all things money mindset.
When you are self-employed, there are times when you can ease up a little bit.
But there are times when you find yourself putting off certain tasks. Money work is one of them, and this can block the flow of money coming into your business.
Why a flow? Money is another form of energy exchange.
After all, money is worth nothing, unless you give it to someone. Otherwise, it is just a piece of paper, right?
Money develops meaning when you keep the energy moving.
To be able to bring money, you need to have channels open to bring in money.
There are skeptics out there about this approach to money.
However, through seeing money as this energy flow and putting it into practice, the results are there.
If you are sticking to this same old routine with your money, then it’s clear why you are always seeing the same results, rather than the different ones you were expecting. By bringing in new practices around the way that you approach money such as the way that you think about your money and the way that your mindset works about money are critical to keeping this flow going.
To recognise what’s causing your blocks, you need to be true to yourself.
If, as a self-employed person, you have decided to have some time off and take things easy, then that’s fine. It’s important to take a break. However, also be conscious that it will affect your money flow.
Make sure you are also being honest about tasks which you have purposefully been avoiding, such as accounts and finance jobs. Has putting off your money admin made things unclear? Are there things that need to be chased up?
The prospect of all these money jobs can leave you feeling stagnant and blocked further.
First things first, you need to give yourself a money date. Give yourself some time in your diary to get back on track with your finances and work to get the energy flowing again.
What can you do on a money date? Here are some ideas to give structure to your date and get clear with your money. They may not all be for you, but they may give you the inspiration you need to get started.
The first thing to do is clear out your purse or wallet. You may even find that you have money sitting around the house elsewhere that needs sorting and everything is in a muddle.
Do you ever have those times when you go through your purse and find old bits of foreign currency and months old receipts? Things like this are cluttering your purses, and can contribute to your money block. Have a clear out and get rid of anything unnecessary.
Through that clear out, you then find out about the money you do have, which you may not have realised before. Appreciate that money and the abundance in your life, it is a sign that money is flowing to you.
Step two is to head over to your accounts. Have a check in with the spend and flow of money in both your personal and business accounts. Consider whether anything needs to be reconciled such as outstanding payments and expenses and take action.
These money admin tasks are important because you are taking steps to recognise and solve your blocks in your accounts.
Another block could be in your money abundance tracker, especially if you have not kept up-to-date with it.
A money abundance tracker tracks the flow of money into your life, but also the value it brings into your life, which is how abundance works.
For example, if you have received any gift cards, discount codes, or cashback. This should be included in your tracker. Any form of money and the value you get from it should be noticed and appreciated. Energy flows where there is gratitude and appreciation, so try to keep your tracker updated and add in all those little things that have made a positive impact on you.
Kate Hunter - “An hour into my money date at this point and I then see that £745 worth of strike payment has finally gone through that I'd been chasing for a little while, and it just appeared in my bank account. I then got a message from a coaching colleague who I’d given some referral work to, and she said send me an invoice for your finder's fee. It's X amount of money. Put your invoice in, and as soon as she’s paid, I’ll pay you.”
It was after an hour of working on these blocks that all these bits of money came in.
Another thing done during the money date was to reconnect Plum, a spending pot app, of which there are many. Plum links to your personal account and saves money for you each month without you realising. Depending on the flow of money, it will save money into another pot. It disconnects after 90 days, which could be adding to your block. Reconnecting any apps could be another thing to start getting the energy flowing again.
Also checking bills and credit cards will help and make sure everything is paid off that needs to be.
If you need an extra boost and motivation when it comes money, affirmations are really beneficial. Some of Kate’s include:
Using affirmations in things like passwords can help because you are writing them regularly.
When you’ve had your big catch-up money date, set aside half an hour each week to keep track of your money. It means that you don’t need to devote a massive amount of time each week, but you can maintain the energy flow and quickly recognise any blocks.
And there you have it. Your money mindset has been reset and is ready to go.
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