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Tutorial #3879

Money Management

30 min - Tutorial
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Welcome to Lesson 6! Today Niedra askes you to think about how you manage your money and how your thoughts about money can impact your financial decisions. She encourages you to visualize the characteristics you want to cultivate so that you can be empowered by your financial decisions.

If you are interested in learning more about the book Niedra mentioned, you can go directly to the website for the book.
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Sep 04, 2019
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Welcome back. It says a lot that you're still here and you keep turning up. Very few people work on their business instead of in their business. Taking the time to think about all this search side, what do you believe? What do you know what is possible? This puts you in a realm with the winners.

This is what it takes to be successful and taking this time to design and think about and create is a skill that the more you do, the better you get added as a note. Not all plans and not all dreams come to pass, but the skill is, and the important part is making a vision, making a dream, making a plan, going into action. Sometimes we can have a vision that we want to go to New York, go through this course and then there's a death in the family or car crash or fire stuff happens. That doesn't mean that Ya, you're not a good manifester. It means that now you just have to go back to the drawing board and draw a new plan. Really what you're doing with all these drills and exercises and visions that we're doing right now is you are creating a blueprint and you're mastering the ability to make blueprints because the more you do this, the better you get at it and the easier it is to actually make your dreams come true. So keep working with this.

Most of us have little or no education about managing money. This is never discussed and to be honest, statistically we are income is defined by the five. The averaging out of the five incomes of the people we spend the most time with. Isn't that interesting? Which means let's say if you grew up in a blue collar community or parents, you have certain belief systems in realities and what is possible for you that are unconsciously influencing who you are and the beauty of the time and the era that we now live in, that this is not really a controlling factor for your potential.

You may have middle-class community and parents and maybe fellow [inaudible] teachers that say, well, this is what's possible. This is what's happening. This is what I can do. But you don't have to hang and have those be the influencing builders of your reality and truth. The Internet has opened up an incredible world for of us in all areas of our, our experience of life. We can expose ourselves to the most brilliant minds and brilliant knowledge that we would never have had access to if it was just up to our lifestyle and community.

So this is no longer limiter where you grow up and how you're brought up. You can learn new things, you can find new ways to do things and this includes managing money, thinking about money and money. Potentiation. Interestingly enough, most belief systems and association in relationship to money is actually based on time. This is a clue that you can kind of gather where is your rules and values and how you manage your money coming from. Even if you don't know you're doing it. An example is a homeless person. When they get a little money, they going to spend it right away.

They're so into right the right now of money now, now, now that it's, it comes and it goes. Many people think of money, they get a salary, they get their paycheck that it comes in and maybe they think of it in terms of the month, what they need to pay the bills, or they're just like they get the money and they pay whatever they need to pay for. So there's span of this. This life of course called money is about a week long or a month long. Then there's people that, rich people, abundant people, people who are doing very well with their money and managing it and manage it. Yet strategically in terms of long spans of time, they're not looking at how to use it now or this week or this month.

They're actually thinking of their money in terms of in the next 10 years, in the next 20 years. So they're thinking on a very large scale about money. I bring this up because for example, if you take getting a lot of money, doesn't guarantee that you manage it properly. Statistically, most people that win the lottery, they make millions within a year. They're back to the same amount of money they had before they won the lottery. That means they blew it.

They had no concept of how to manage bigger amounts of money. So guess what? They defaulted back to the same operating system they had before they won the money. So the concept of making an income is not really, uh, its own factor for how you manage your money. I've heard of movie stars making millions who are in debtors anonymous because they broke, they look affluent, they have an affluent lifestyle, but they actually have no money and they probably did.

That platform can be overwhelmingly high. So where do you fit into this picture right now? How do you think about money? Do you think of it in terms of the week, the month? Do you have a saved? Do you have any kind of plans in place about managing your money? You know, again, let's see where you are right now. So please pause the video and write down what, where do you stand? What do you do or not do about your own money?

[inaudible] [inaudible] was that interesting? Did you discover that you're the kind of person that you get a windfall of money and then you run out and go shopping because you're not thinking of your money longterm. Or perhaps you're the kind of person that puts everything on a credit card, berries your head in the sand, and then you hope for a miracle that something good is going to happen or someone's going to save you. And yes, I've been there too. So I, I'm with you on all of this. Or do you, are you regulated? Do you have some kind of system in place? And really the key question to ask here is your degree of anxiety and it, um, instability and that inner state of discomfort about this subject.

So many of us lie awake at night and worry about how am I going to pay the bills? How am I going to pay my taxes? What, where is this? How is this going to resolve? Any is not a thriving teacher. You're not becoming a thriving teacher unless you really look at this, right? And get first of know where you're at and then start to have some ideas of where to go. There is a lot to learn about this before we actually get into managing money.

Let's look at the truths around money and your truth because there is such a pink elephant that no one's looking at in our culture and our community and our upbringing about this. There's a lot of very bizarre belief systems floating around truths that are unconsciously influencing us. An example, our m money at the source of all evil money doesn't grow on trees. Um, there's a biblical statement that a rich man can get into heaven about as easily as a camera can go through the, um, you know, a needle hole. This so many big rich people are greedy or they get rich on the backs of the poor. There's a lot of this going on and it's basically, um, a solution to really on dysfunctional thought path or the not an understanding of the truth. Can you see our few start making money?

And you have this unconscious voice inside saying that you don't deserve it because, uh, or you're a bad person because you're making money and what right do you have to make this money? Who Do you, who do you think you are? Do you think that's going to get in the way of you thriving? So let's look at this in depth. And first of all, I invite you to pause the video in a minute and really dump everything you've heard about money. Every little silly thing that you don't agree with, but you've heard because that's the beginning again of navigating through this inner muddy waters.

So you can start to have some sanity around this subject matter, positive video now and right. Your belief systems that you've heard of are aware of whatever, anything about money, write it down. [inaudible] wasn't that interesting? Isn't there a lot of nonsense floating around in our heads about money and for your information, your subconscious mind or your conscious mind I should say I heard is always eavesdropping on what is going on inside there. So you want good stuff floating around inside you so that you can operate from a place of integrity in the world.

What can some good examples of belief systems be? Uh, and I've done this myself cause I found a lot of trash inside of me when I was spring cleaning my belief systems and I would like to share some good belief systems that now are very real and true for me. My money is that I receive is the result of services that I respect, that I am delivering, I know are good value and I enjoy receiving good money as a result of it. I love making money from working. I love making a lot of money.

Money gives me a stress free life. Money is what I need in order to achieve my dreams and do fun things. My money allows me to increase and give better value to the world. I respect my money, I respect people who make money because I see how hard they're working and what amazing things they're doing as a result of it. I love money because it empowers me to do more in my life and money is important for me. I give it time, I think about it.

I have a look at where I stand with it. It's an honorable place for me to put my attention on. Do you see how these are a little bit easier to have so that I can go out and do something and ask people to pay me for it and it's cool. It's true. I do think this is the value that I have around it and let me add in a little aside is you need to know that what you are doing for someone else is actually valuable.

So there is an inner ethics that we are going to address in our next lesson about being in integrity about what you do. Are you giving good value? Because the interesting thing about money, money is an amplifier. It's a force. It's like laser, it's like electricity and it's very, very neutral. Once we get all of this stuff around, it removed kind of like electricity.

If you put your finger into a socket and you get electrocuted, it's very negative and we turn a switch and we have lights. And much of our life happens because of the power of electricity. So money is a similar thing. Now, an individual, an individual managing money, that money becomes an amplifier. So if you're a jerk and you're selfish and you have no interest in anybody else, that money can just make you a bigger jerk and have more impact with your jerk though. But if you are good person and you want to help and do good in the world, don't you think that money can amplify that? In your case, if you have aging parents and you're making a lot of money and you can send them some to help them out, isn't that a wonderful thing?

But if you can't pay your own bills, you can't extend this goodness out to other people so that it's just a magnifier. It's a force. It's a power. So please pause the video now and record your own good belief systems. Get some new ideas in place. Something that will empower you, make you feel respectful in yourself when you turn around and ask somebody else to pay you some money, do it now. [inaudible] interesting, right? And just like you had your ideal teachers self, your high teachers self, there's also a personality around money.

What kind of person would have these new empowered belief systems around money? Because it's a specific personality connected to this and you want to have your own ideals as to what sort of person manages money. In my case, I used to be a real scatter bear brain around it because it was almost embarrassed about the fact that I actually care about it. So I'd get a check in, I just haphazardly put it somewhere and then be frantically searching for this check or get some cash and I didn't know where I placed it. So it was a bit of a scatter blank brain.

So that was not an ideal money personality. Some examples that I now have about the type of person I am that manages my money well are I like not living in debt. I pay attention to my money I recorded. I am clear about when it gets deposited. I know how much I make.

I enjoy keeping some orderly structure around money. I twice a month have a look or every two weeks I have a look at my money situation and manage it properly. I have appropriate flows for my money. I am very ethical and upfront and transparent about money transactions. Every service that I provide, I am very clear about how much it's going to cost.

I make every effort for the person interested in anything I do to know the financial part of it because all of us need to make decisions. I don't hide that information and keep it hidden and then suddenly throw it at the person before they had a cha when they thought otherwise. Very, very important for me that the person on the receiving end knows what the costs are and what the expenses will be. I spend less than I make. I plan my money so that it lasts and I make decisions accordingly.

So please pause the video now and write down qualities of what your high self, as a money manager would be. What characteristics do you want to embody? What behavior, what thought patterns? And by the way, character isn't something you're genetically born with. Character is something that is developed and cultivated and worked towards becoming more and ethical. Becoming more upfront about money is a personal growth journey and it's worth cultivating. Heck, only you live your life. Only I live my life and the more conscious we are, the more we step into all these responsibilities develops muscle power. The belt develops character, develops you into someone that everybody else will admire and want to be like.

You will become even more of an inspiration. So pause a video and write this out now. [inaudible] okay, so now that you have gotten in touch with the type of person you want to be managing your money and some nice basic foundational belief systems that can work, how do we manage our money? What can be done about this? In the old days it was a little bit simpler and easier.

A person got their salary or pay for the week or the month. And I know stories of the old timers, they used to take the money and like they had a bunch of different envelopes and they put, this is for the bills, this is for the groceries, this is for savings, this is for the children. There were like these little categories of how you flow your money. Now it's become very diluted and convoluted and as a Terrick in essence. But it doesn't have to be like that. Now we have unlimited credit.

Everybody's encouraging us to go into debt right away. Um, our bookkeepers and accountants, they always have, what's your income, what's your expenses, and then your profit after that. And it's all very overwhelmingly complicated, confusing. And again, probably not your strong point. I'm not a numbers person, so it's not an area that I naturally gravitate it to. So what can be done about this? I would like to share a system that I put into place. It's been a game changer for me.

That's so simple in genius and great for entrepreneurs. And it's called profit first by, let me make sure I have the name of the person by Mike Macau. Lo it Mecca. We will have a link at the end for this book. Now, what's special about this book? He cuts to the chase about how you manage your money and why you're in business. You're in business to make a profit and that's where you will go right against every bookkeeper and accountant you have because they're going to do expenses before profit, so very, very simple.

Let me share you the what I put into place. I get my money in. It goes into my bank account, I call it income. Then I take a percentage out that I call profit. Now if you're at the beginning and you're heavily in debt, it can be $1. I don't care how little it is, but it's setting up a flow and where your money can flow and the intention of why you're working is that you can create abundance and thrive and have leftover for yourself. So profit. I take a small percentage of what comes in and right away off the top I put it into profit. I have a separate bank account, it's called taxes.

I have a percent of the amount that I need per month that I put in there for my taxes. Guess what? April 15 comes around. I have no stress. I don't even think about it. I know the money's been sitting there all year and I have no headaches and most of my friends and peers are pulling their hair, had our hair out, they're stressed out of their mind. They're selling their possessions and all sorts of weird and unusual and crazy behavior going on and don't think it's just that little low income people. It's a high income people.

They're in the same category because they don't manage their money. Then I have my bills, my monthly bills. I have an account called bills. A certain amount goes into there and I know how much I need to have in that account every month cause I did my numbers and then I have an aspect of my yearly expenses. I have my car insurance and my yearly memberships and whatever else I have.

I have a certain amount that goes in there and then I have my personal, what's leftover is for me to spend on this month. So do you see how that's like six, I think it was six bank accounts and it gets done every two weeks. And guess what? If you asked me right now, what's your profit from this year? I would just go tick, tick, tick. And I would tell you the number. No accountant and bookkeeper can tell you that.

And most people in business for themselves, they can be in business for 10 years. They've been working 18 hour days. They are struggling. They're always doing it, waiting for the moment where they actually have that break. Good people providing amazing service. But the sad tragic part is no profit and they're as stressed out after the 10 years as they were right at the beginning when they started. So it's a real devastating situation. Whether you're small, a part time, small or bigger, not hard to dig yourself out of with this strategy.

There are many other strategies out there. I'm not saying this is the only one, this is just one I would like to share that made a difference in [inaudible]. It was a game changer for me in my life and it will show you how to get yourself out of debt if you are in debt and chances are you are, most Americans are, it's a lifestyle for us, the most abundant country in the world, most massively in debt for most of the middle class and a lot of the upper-class and probably the lower class. Weird, right? It's insane and not very complicated to resolve, but you need to look at it now that I've triggered your imagination and perhaps provided you with one way that you can have a management system in place for your money. I would like you to have a look and see what can you do to make to manage your own money. What steps would you like to put into place?

Pause the video here and write out every possible idea that's coming to your mind that you would like to implement about managing your money. And maybe one of the steps is to get more education in the area to start to look for ideas of how do I manage my money? Because to be honest, you probably don't know. As I mentioned, I do recommend that book. It worked for me, but there's many other wonderful books out there as well. So pause the video now. Write out what your strategy, ideas, things you can do about managing your money. [inaudible] excellent. Well done.

Now I would like you to close your eyes and imagine what is your life like now that you're managing your money, what kind of person are you? Do you sleep better at night? Do you actually feel excited that you can do something good? Imagine what it would be like in six months or in a year. Your Business is flourishing and prospering. You've worked your way out of debt.

If you're in debt, you know how to pay all of your bills. You're planning a wonderful vacation that you could never afford before because you're blow it on cappuccinos at Starbucks. What would you feel like? What kind of person would you become? What kind of possibilities do you hold in your future? The cool part is you don't have to be rich. To do this.

You just have to manage what you got and grow it very gently and humbly and realistically. Make it good. Make your future good, make your financial horizon shiny and add a little abundance in there. Why not thrive a lot? It's all in your head. It starts there. It starts in your heart. Make it feel really good. Take a deep breath in. Take that vision, all those wonderful feelings, all those ideas. Place them deep in your heart center and breathe out.

Open your eyes. Know that these changes are going to stay with you and grow even if you're not thinking about them because you've planted a beautiful seed inside yourself and guess what? Something is brewing because you've spent the time looking at all of this and now four more fun practice things to do before our next lesson. Go over all of your notes. Go over who you want to be as the money with your money manager persona.

Look at build your belief systems and improve on them. Look at your strategy for managing your money and share what you're discovering. Jay, share your plans with the community and don't forget to take action on not one thing. Going into action about something is the big is what successful people do. You don't think about your life, you do your life.

You roll up your sleeves and you take one step that you can do right now. See you in the next lesson. All did I mention, don't forget to share with the community. We all win more together where team together everyone achieves more. Share your visions. Share what you've discovered. Share your belief system. Look at what other people have posted.

You may find a bunch of ideas that you want to implement for yourself. We all went from getting to know each other better and we applaud each other and we will thrive. Next lesson we cover ethics and professionalism. See you then.

Becoming: The Secrets to Thriving as a Teacher: with Niedra Gabriel

Comments

1 person likes this.
This is so good! Well done in delivering valuable content! I got so much out of this! Thank you!
1 person likes this.
Great advice!
2 people like this.
The money management chapter is amazing. Sitting down and really thinking about how we think, act and believe about money is just eye opening. I actually laughed when Niedra shares getting a check or cash and then not even knowing where she put it because it sounded just like me and what that made me think is how careless and how little interest we where giving to that important value in our life called money. Just by the simple act of knowing where we put it and acknowledging its presence, role and importance in our life is a huge step to literally healing our relationship with money . I can't thank you enough Niedra for sharing all this information. You are making a difference in this life time and if money is helping you accomplish this, then I wish it will continue to flow like a river into your life. Blessing to you
Kimra good work on having an honest look here. and thank you for the blessing, I love the metaphor of money flowing like a river in my life!
2 people like this.
'Money is the root of all evil' - how laughable it is that we take all of these ideas that other people have about money as our own! I can see how the issue of money really is no different to all of the other ideas that we've been exploring throughout this series; it's ultimately about confronting our deepest held beliefs (some that we didn't even know we had!) head on.
Andrea so well said! Thank you!
1 person likes this.
amazing how hearing this from someone in the same profession makes it so much more real and seem so much more attainable
abigail Yes, I am in the same profession! and thank you for the comment. I do know what you mean, it has to be believable to YOU.

warmly,
Niedra

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