When it comes to earning money, you’ve got that covered. But how much have you thought about what you should be doing with your money? The truth is, managed money works harder. Just like you manage and nurture the relationship with your friends and loved ones — you must do the same for the relationship with your money. Nurture it, pay attention to it, put effort into it, respect it, cherish it. Show it a little TLC and you’ll be rewarded for it.
Read on to determine ways to both manage your money and enjoy your life around your money.
Spend…smartly
Want to know how to spend your hard-earned money guilt-free? Create a spending plan. This will allow you to gain insight into your spending habits, track your purchases, and ultimately, figure out ways to make your money stretch further. Maybe you’ll realize that eating out 5 nights a week is a bit excessive. Especially when you have a financial goal that you’re working to meet. A spending plan will provide a framework for you to make the cuts to the things that don’t matter to you in order to spend on what does.
Invest in yourself
The single best way to build wealth is through investments. Investments come in many forms. You can invest in real estate, the stock market, etc. Most importantly you can and should invest in yourself. Investing in yourself strengthens your personal development muscle. When you realize the importance of investing in yourself, it will spill over to the other areas of your life…including investing your money. So, exercise your investment muscle. Take that course or training. Attend that conference. Hire that coach. And set aside that income to automatically invest before doing anything else.
Take care of yourself first, then others
It may seem counterintuitive, but the best thing you can do with your money is be selfish with it. There is no one responsible for your future, but you. So before you open that 529 plan to save for college tuition or enroll your child in private school, make sure you’re on track for a fully-funded retirement. Trust me, you don’t want to get to retirement and have to rely on the government or your children because you haven’t properly saved. Take the time and resources to first establish your financial foundation. Then let working to advance the position of your children motivate you to take your finances to the next level.
Enjoy the money you earn
You’re a high-achiever and a high-earner. You work hard and should play too. Money is not only meant to take care of your necessities. It’s also meant to be enjoyed. The key to a healthy money relationship is maintaining a balance between your spending, giving, saving and investing. One of the best ways to enjoy your money is through your spending and giving. The joy in spending your money on the things you love is a no brainer. But you’d be surprised by how much joy comes from providing the necessities or an unexpected treat to those in true need of it.
If you’re ready to make the most out of your money, I can teach you the blueprint. I will provide you with clear, actionable, and high-impact steps designed to help you turn your 6-figure income into a 7-figure net worth. Apply for a free Discovery Call with me.
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