“Worrying about something is like paying interest on a debt you don’t even know if you owe.” Mark Twain
Eric, one of our clients, left a lucrative corporate training position 18 months ago to launch a hot sauce business. He’s a cook, avid foodie and comes from a long line of entrepreneurs. This was his big dream.
Now, like most new entrepreneurs and many in the current economy, he is struggling to make the business profitable. His wife Ellen works part-time and cares for their two small kids and the lack of financial stability in their lives is bringing up a lot of fear.
It’s also dredging up some of their oldest and scariest beliefs around money.
Many across the U.S. are navigating financially tumultuous waters right now. And, as a result, we’re getting the opportunity to practice living in the "unknown” and examine what's really important in our lives.
As uncomfortable as this may be, another way to respond to these fears and uncertainties is by asking ourselves if it isn’t time do some financial housekeeping? And, not just sweeping the porch, but really clearing out the cobwebs in the attic.
The following financial health questions and strategies have helped me tackle my “inner work” around money and prosperity:
1. Acknowledge that there is work to do. Regardless of your socioeconomic background, we all have our own “stuff” around money, prosperity and wealth. What are your core issues? Are you ready to do the work necessary to release old self-limiting beliefs around the green stuff? (Read Let Your Light Shine: Owning Your Personal Power from my book on this theme.)
2. Understand what money is. Author Joseph Campbell says, “Money is congealed energy. And releasing it, releases life’s possibilities.” People who know how to use money, know how to handle energy. Does this describe you?
3. If you were in a relationship with money, how would you describe your lover? How do you feel about money? Is it a friend or foe? Does it serve you or are you a slave to it? Is it tied to your mood or are you clear happiness is an inside-out job? Here is a great exercise to help you gain clarity in this area (share it with your partner, too).
4. Get real about your financial state. So many worry about how bad they think things are, without really having a grasp on their financial state. Others think they’re better off than they are. Move out of paralysis and take inventory of your debts/living expenses and income/assets (with your partner, if applicable). This will allow you to make conscious choices about how to live and spend.
5. Understand the true meaning of prosperity. Pause and think of all you have to be grateful for--your health, your freedom, your ability to create, the support in your life, your work, your family, etc. Money is just one form of prosperity. Celebrating all your blessings can really help shift your perspective and often gives you the breathing room you need to see your situation in a different light.
6. Keep the big picture. This too, shall pass. When you’re living in the unknown, it's really easy to stay "stuck" and fixated on your financial state. Spend time with friends and colleagues who support you and remind you this is only a bump in the road. You haven't fallen into a manhole, you're just experiencing a little rough terrain. Things will get better (reflect back on how you have come through past crises).
7. Don’t stop enjoying life! Just because your bank account is leaner these days, doesn't mean your social life has to grind to a halt. Seek out free concerts or outdoor events. Go on a family picnic. Go to the dollar theater. Pick a fun theme (Mediterranean, Mexican, Comfort Foods) and invite your friends to a potluck dinner at your house. Enjoy your local parks. The best things in life ARE free!
I’d love to hear your thoughts on this theme on our Live Inside Out FB page or my blog The Journey. Please share what perspective or strategies help you feel more empowered around your finances!
SHOW ME THE MONEY: RESOURCES TO HELP FOSTER FINANCIAL HEALTH
Lynne Twist’s “The Soul of Money”—explores the connection between money and leading a fulfilling life.
Jean Chatzky’s “The Difference,” --practical and insightful, addresses the inner and outer work.
Suze Orman's "9 Steps to Financial Freedom” –an empowering look at what’s holding you back from financial freedom.
Beth Kobliner's "Get a Financial Life"--personal finance in cliff notes format.
Robert Kiyosaki's "Rich Dad, Poor Dad"-- what the rich teach their kids about money that the poor and middle class don't.
Sonaya Roman's "Creating Money"--a metaphysical approach to creating prosperity.
Maria Nemeth's "The Energy of Money"--a spiritual guide to financial and personal fulfillment.
Catherine Ponder's "Dynamic Laws of Prosperity"--explains the wisdom of prosperous thinking.
Debtor’s Anonymous Support Groups—budgeting and support for becoming debt free; meetings around the US: www.DebtorsAnonymous.org
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November 17th 7:30-8:30 p.m. CST FREE Live Inside Out Class with Renee Trudeau. Topic: Creating Your Support System. Join Renee and women from around the world in a "virtual living room" as we explore how to live life from the inside-out. Register here to receive call information and details.
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