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Money Habits: Transform Your Relationship With Money in 2021

The first of the year is notorious for resolutions that often never materialize. Lose weight, run a marathon, write a book — there is always a big transformational dream. How does a dream become a reality? I believe HABITS are the most important piece of any transformation. Behind the habits are BABY STEPS – something very tiny you do every day that gets you to your bigger dream. 

Several years ago, I decided I wanted to do a triathlon.

While I was on a swim team as a kid, I had not done laps in a couple of decades. I didn’t own a bike and I was not a runner. Let’s be honest — the odds were against me.

 

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I did a ton of research and went all in. I created a training plan that was based on minutes. Each week, I was to complete a short and long swim, a short and long bike, and a short and long run. Week by week the minutes would increase by 10 percent, and then every fourth week the minutes would reduce by 25 percent to give my body a break. 

The plan was very methodical. I printed out a blank calendar and filed in each day with what I needed to accomplish. Every morning I would wake up and do exactly as my training plan dictated – swim for 13 minutes, or run for 27 minutes – nothing more, nothing less. I would put a big X through the day after I completed it, just like a kid counting down to the last day of school. 

Minute by minute, I transformed myself into a triathlete. 

If I focused on the dream of crossing the finish line, I am not sure I would have made it. The concept was too big, too out of reach, and too impossible. But waking up and making a commitment to run for 17 minutes that day – well, that I could do! 

Seven months later, I did cross the finish line. While I will never forget the excitement and elation I felt that day, I also fell in love with the process of training for the race. I loved waking up and knowing I had something to do that was going to get me to the finish line. I fell in love with the habit of training. 

Becoming empowered around your money is a lot like training for a triathlon. If you’ve never paid attention to your finances, having a joyful and easy relationship with money may seem like an impossible dream. But, if you have a solid plan and stay focused on the task at hand each day, you can transform your relationship with money one baby step at a time.

Here are a few pointers to get you started:

  • Make a commitment to give your money some TLC and then break it down into action steps. 
  • Be aware of your money mindset and how your money stories and money blocks are showing up in your life. 
  • Figure out the habits and systems that work for you – Create habits that are fun, easy and feel supportive. 
  • If there are places you need support, don’t be afraid to ask for help. This can be a bookkeeper, a CPA, a tax accountant, a financial planner, a money coach, or even just a good friend who is willing to be your sounding board and keep you accountable. 
  • Take action – make a commitment to do a little at a time and be consistent.
  • Focus on the baby steps.

Related Post: More Focus = More Money

Perhaps you are overwhelmed and don’t know where to start.

The key is to just start. Start small, and with what feels easiest to you. Take the task at hand and break it down into manageable pieces. 

Maybe it’s looking at your bank account every morning or committing to Financial Fridays where you update your books on Friday mornings, or Wealth Wednesdays where you review your reports on the first Wednesday of every month. Whatever it is, each time you make a choice to take a baby step in understanding and organizing your finances, you are one step closer to being empowered around money.

Be honest with yourself about what you can take on, and what you want to take on.

I have set up QuickBooks files for clients who want to do it themselves and then nothing happens, I mean nothing. They think: How hard can it be? I can find the time for this. But then months and months later (usually around January or February when a tax deadline is looming) I get an email or a call. They are usually stressed out and panicked because they need to get a full year of bookkeeping done within a matter of weeks. While this certainly can be done, it is not the easy or stress-free way to financial freedom. 

Related Post: IS MONEY ON YOUR GRATITUDE LIST?

The best results come from having a system and process where your money is shown some love and attention on a regular basis. This system might be done by you or by someone else, but the key is to be regular. Do it daily, weekly, or monthly so you aren’t in a panic on April 14.

If you are ready to make the commitment to pay more attention to your money, download my Money Action Plan – A Guide of What to Do When. This will help you to do a little at a time and be consistent. 

Just a note: Please don’t panic. I understand changing the way you interact with money can be completely overwhelming—especially if you don’t have any or many systems in place. It is totally ok to start where you are and pick one or two things you want to focus on at a time. Remember: baby steps. Take it easy on yourself but don’t bury your head in the sand, either. Like all good things, transforming your relationship with money takes diligence and time.

Carolynn Bottino is an author, speaker, and founder of the Money Empowerment Project®.  Her international best-selling book of The Land of Plenty: A Soulpreneur’s Guide to Finding Joy, Possibility and Abundance through Money Empowerment was featured on the Spirited Woman’s top 12 book pick list for 2020.

After empowering more than 100 clients in her bookkeeping business, she discovered her passion helping soulpreneurs find joy around their money.  Carolynn approaches money from a practical and holistic standpoint, with no judgement, helping you find abundance and transform your relationship with money. 

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