How to manage your money as an entrepreneur is one of the most common questions I get. As a business owner, your money management will make or break your business.
That's why it's shocking to see how most people bury their heads in the sand and ignore the details of their money, willy nilly making decisions without a plan. That is a highly stressful way to live and work. You can't make any good or clear decisions when you're anxious, fearful, and scattered.
If this sounds like you, don't worry--there's no shame here, and we're sharing with you our top tips on how to manage your money in both your business and your life.
You need to BOTH know your numbers and shift your mindset.
If you spend time with your money every day for just a few minutes, your entire relationship to money will change. When you transition from impulsive and stressful spending into feeling more at peace and secure with your financial picture--that is gold!
The goal is to put you in the driver's seat so you can feel empowered. You CAN do this!
You need to believe that you ARE worthy of money, of success, of prosperity, and that you have the skills, the story, and the expertise you need to create wealth.
When you couple your money mindset with learning money skills, you will be unstoppable!
Our money expert today is Shannah Compton Game, CFP®, MBA, the leading expert for millennials on money. She is the host of the popular iTunes podcast, Millennial Money, where over 500,000 listeners from around the world join her twice a week to tackle their finances. Shannah is passionate about millennials and loves producing original content for this underserved segment.
Aside from her podcast, Shannah is an accomplished financial writer, with weekly contributions featured in the Huffington Post, Wise Bread, PolicyGenius and Haven Life. Shannah’s financial expertise has been highlighted in articles for Women’s Health, MSN Money, Reuters, Bankrate.com, Refinery 29, Yahoo! Finance, and Co-Op Credit Union to name a few. In her free time, Shannah is the Principal at Shannah L. Compton, CFP(r), MBA, a California Registered Investment Advisory firm, where she consults with entrepreneurs, millennials, and couples.
What you’ll learn in this episode:
- Do you need to spend money to make money?
- How to know when it's time to hire help
- How to budget for business expenses and create a mindful money plan for both your business AND your life
- When and how much to pay yourself
- The most common limiting beliefs we have as doers, dreamers, and creatives and show to shift them
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Links + Resources Mentioned in this Episode:
- Listen to Shannah's podcast, Millenial Money
- Frustrated by your lack of progress with your blog, despite working tirelessly on it? If you’re ready to unleash your inner entrepreneur badass who already knows she’s worthy and successful and can do anything she puts her mind to (even if your inner critic is currently calling the shots!) then I’ve got you covered. Sign-up for my FREE blogging masterclass called 3 Behind-the-Scenes Secrets to Profitable Blogging in 2020 and Beyond here!
- Calm meditation app
- Get my 2-hour "How to Start Your Blog" Workshop here where I show you step-by-step how to start your blog from scratch!
- Check out Shannah's new company, Hello It's Me
- Get Shannah's Money Mindset Journal
- Happy Money by Ken Honda
- Follow Shannah on Instagram @shannahgame and @helloitsmeco
- Follow me on Instagram @katekordsmeier and @rootandrevel
More Ways to Enjoy Success with Soul
- Download a transcript of this episode
- Download on Apple Podcasts
- Don’t forget to join our free Success With Soul Facebook community for follow-up conversations about the podcast episodes and where I also often go live to answer your burning questions. Hangout with like-minded bloggers and heart-centered online business owners exchanging priceless feedback, encouragement, and other golden insights from the trenches.
EPISODE CREDITS:
Produced by Danny Ozment at https://emeraldcitypro.com