A few months back, my husband and I watched The Secret. I decided to test out the law of attraction by manifesting an extra $5K in our checking account. I thought about this long and hard all night. I thought I was being savvy by not being specific about how I wanted to receive the money, only that it would be there. And the money did show up, in the form of a temporary deposit from my husband that I had known nothing about.
I learned that the law of attraction works, but that you have to be pretty specific about what you want and how you want to receive what you ask for. In retrospect, this explains why my money management system has helped me experience more financial abundance than I ever dreamed possible.
You see, my mindset started to shift in a big way in 2012 and 2013 when I started managing money differently, month in and month out. As I changed my processes, and started to experience better financial results, my beliefs shifted quickly too.
It’s in the doing where the learning happens. Your experiences with money shift. Then your beliefs change. Then you have a new mindset.
Here are 3 things I do to manage my cash flow in a way that helps me experience financial abundance. Apply them in your business, and your mindset will shift to one of more abundance too.
(We cover these 3 steps in detail in the 6-Figure Cash Flow System.)
Financial Abundance Step #1 – Track Your Expenses
Sure, it’s not always fun to see exactly how much money you are spending on a monthly basis. But it’s absolutely crucial to get clear about your expenses so they don’t pop up unexpectedly. Once I started tracking all of my business expenses in one simple spreadsheet, I could easily see how much money I needed to make to cover those bills.
Then I took things a step further and started saving for annual expenses as well. This takes a huge amount of stress out of my financial life. Many of my big expenses are due in December and that’s my month where I tend to see the least revenue, so saving for those expenses throughout the year eliminates the stress around paying those big bills.
Financial Abundance Step #2 – Create a Monthly Revenue Plan
Early in business, I had a vague idea of how much money I wanted to make and it was always more than what seemed to pop into my checking account. It wasn’t until I got clear about exactly how much money I wanted, and exactly how it was going to come into my business, that I skated right past 6 figures.
To create a monthly revenue plan, you want to:
- Write down the exact amount of revenue you’d like to receive.
- Break out exactly how you expect that revenue to come in, by product and service offering.
- Determine what you need to do to meet your projections for each offering.
This is how you make the law of attraction work for you, because now you are laying out exactly what you want and how you want it. This practice also allows you to check in throughout the month and see where you are at against your goals so you can make course corrections before it’s too late.
Financial Abundance Step #3 – Plan Your Money Flow Monthly
With clarity around your expenses and a monthly revenue plan that meets or exceeds them, you’ll want to move on to creating a clear plan for how money will flow to you and through your business.
Once you get this process right, the circle of money stress dissipates.
- No more hoping that today’s revenue would cover tomorrow’s expenses (and worrying they will not).
- No more balancing my checkbook several times each month just to be sure everything will be covered.
- No more pulling money in and out of savings to cover expenses as they some up.
These activities reinforce the negative belief that there isn’t enough, even when there might be more than enough. Instead, pre-load your checking account with all the money you need to cover the month’s expenses. Do this once each month then get back to your more fulfilling and creative work.
This was the hardest concept for me to get a few years back, but it transformed my mindset completely as I could actually experience the abundance I was receiving. I also saved several hours each month of tedious money management work.
>> Find Your Path to Financial Abundance
We cover these 3 steps in detail in the 6-Figure Cash Flow System, where you’ll learn simple money management techniques that will empower you to attract the money you want and create more financial stability in your business.
10 STEPS TO BUILDING PASSIVE INCOME WITH DIGITAL PRODUCTS (Free Guide)
Download a complimentary 35-page PDF guide that will walk you step-by-step through the right work to do in the short term to receive the financial freedom and flexibility you want in the long term.
To receive the guide, simply type your email into the box and click “Sign Me Up!”