Nine practical and emotional strategies to save and manage money during the festive season, so you can start investing and making money work for you.
The brain hates uncertainty, it sees uncertainty as dangerous; the clearer you are about what you're trying to create or achieve, the more confident you'll be when it comes to taking constant action.
Uncertainty is part of life and there’s no way to know the future with complete certainty. There are too many variables.
We assume the way to avoid financial failure is to know all the variables and possibilities, but what we need isn’t knowledge of the future or instant success, what we need is courage to keep going in the face of impossible odds.
When we see our worst fears and face them, they can no longer control us.
I’ve made tons of financial mistakes, even as a money coach and personal finance author.
One big money mistake I made, was not listening to my financial adviser when she tried to get me to move into real estate investing and start creating passive income 4 years ago.
I held onto that mistake for years and spent years beating myself up for not listening to her, until I realized it was affecting my relationship with money.
When we hold on to a financial mistake and we keep thinking about what we should have done better or we keep replaying how badly we screwed up, we teach our mind to focus on that mistake and we keep the energy of that mistake alive and store those memories in our bodies.
The longer we keep that energy alive, the more we berate ourselves, blame ourselves and victimize ourselves, the more we start to doubt ourselves with money, which impacts the way we behave with money in the future,
If left unresolved and unhealed, this doubt and victimization can also be passed down from generation to generation.
Last year at the Thai Retreat, Mizo said something really powerful: "Black women know how to hold each other in pain but we don't know how to hold each other in expansion and joy."
I felt that.
We had a deep conversation about this in the #MoneyMagic student group and we were all triggered by the insights we got as we delved deeper on this topic of expansion and being alone at the top.
We spend so much energy holding ourselves back so we can be loved.
This energy we use to keep ourselves small is exhausting, this exhaustion of limiting ourselves is showing up in our bodies and causing physical energy blocks and it’s affecting our health.
The exhaustion shows up as deep anger and frustration about money.
It shows up as resentment in families, especially where money is concerned.
One of my greatest fears is the fear that if I keep financially expanding and allow myself to succeed beyond my wildest dreams, then I will lose the people in my life because they will reject me.
I call this the fear of losing love.
The need to be loved is one of our most basic needs.
Research has shown that babies who are starved of affectionate touch can actually stop growing and can become ill. It’s not enough for babies to be held, they have to be nuzzled and kissed, they have to be held in a way that makes them feel loved.
So as adults, it makes sense that we’d also want to hold onto the love we have in our lives and not lose it.
Why do we run away from the things we say we want?
Why do we say we want to save more money and then spend all our money on something trivial?
We say want to get out of debt but every time we're given the opportunity to do just that we freak out and run away.
At a conscious level we may have a goal to create financial freedom by paying back debt, saving and investing, but at a subconscious level our mind may see our financial goal as unsafe and scary.