It’s Not About the Money

You know that feeling you get when you have to look at your numbers? That sinking feeling in your stomach, or tightness in your chest? That is a symptom of the Ignore-Panic Cycle.  Guess what?  It’s about the money, but it’s not about the money. And … it can feel really different than that. Take one small step. Love and light,...

27% have less than 1 month – Do You?

This may surprise you – almost half of Canadians have less than 1 month of expenses saved in case of emergency. In BMO’s newly released Rainy Day Survey, It is clear that savings is still a major challenge. One-third of Canadians are living pay-cheque to pay-cheque. I know from my clients that many of you are earning well over $100,000/year and are still struggling. You are juggling expenses, debt, and lifestyle choices. You don’t have a money life plan and are trying to manage complex finances in your head. The percentage of people with enough savings to cover a change in financial situation, job loss, illness, injury or major home or car repairs is up 8%, to 27% of Canadians, according to the annual Rainy Day Report. However, this survey also shows us that with two-thirds of Canadians using savings through an emergency, and almost half of Canadians with less than three months emergency savings, many Canadian families face potential financial crisis. Ready to create a better Money Life? 1. Get clear on what your life costs and what you earn 2. Decide what you really want your life to look like 3. Match your money to your goals. Need help? Let’s talk....

Follow the Winding Road

It always comes as a surprise to me that the road to success is so convoluted. Even after many years of working towards and reaching many of my success milestones, I am still amazed by the twists and turns that are part of the journey to what I really want. I seem to forget that it is always like this. My clients Carol and John called this week to talk about their journey. They have had some setbacks, some changes and some opportunities, and they are wondering what their next steps are. They too forgot that the pathway to success in their money life is not going to be a straight line. I reminded them that they will need to make detours, they will lose the trail for a while and they will often take 2 steps forward and one step back. So, how do you manage the exciting yet sometimes rough and bumpy journey? Be Clear About Where You Want to End Up Imagine negotiating those twists and turns if you are not crystal clear on the destination. You would get lost in the wilderness and go around and around.  Have a clear goal for business revenue, personal income, savings and/or debt repayment. Know what the milestones are and when you have arrived. When you know where you want to end up, and keep your eye on the goal, the detours along the way are not as challenging. Map Out Your Route and Keep Your Eyes Open When you map out your route, you have a plan to get to where you want to go. When life detours you,...

An extravagant life

Most of my clients have said this to me at some point in our work together. You may have said it or thought it yourself. Shelley and Brian were frustrated with juggling hockey fees, camp dues and property taxes in a month where the business revenues were lower than they had hoped. They decided it was time to get their money sorted out once and for all. They said to me “We make good money, I don’t understand why we are always struggling – we don’t live an extravagant life …” I said … yeah you do. I wasn’t being mean – I was being honest. OxfordDictionary.com defines extravagant as: Lacking restraint in spending money or using resources; Exceeding what is reasonable or appropriate Shelley and Brian aren’t alone. Forty percent of Canadians are living an extravagant life. – they are spending more than they are making. Another 20 percent live close enough to the edge that a late paycheque or a low revenue month makes them nervous. Are you living an Extravagant Life? Find out by answering these three questions. How much do we earn? Be clear on how much income you are bringing into your household. As a business owner, the total revenues you earn are not all available for your personal use. Taxes, business expenses and business investment must be accounted for. How much do we spend? Be clear on what your life costs. Consider not only the monthly expenses, but the fixed and variable expenses that come up during the year. Items like car repairs, gifts, gas and spending money for trips to the in-laws, vet...

Everyone Has a Drug

Everyone has a drug of choice. It’s the way you self-medicate. A way you try to fix what is wrong or missing. A way to fill an empty hole inside that everyone has. Your drug of choice could be food, alcohol, sex, surfing the internet and even exercise. For many, it’s spending money. Buying things, experiences, people…whatever it takes to fill that empty hole. Spending was my drug, and it could have happened any number of places. I attempted to fill my empty hole by spending $80,000 on coaching. It actually started off great. I made a decision to join a program and I learned a lot. In fact, I would make that decision again. It kicked off my business. And then, things changed…well, I changed. I started to use it as a drug – to fill the void of my own dwindling confidence, to buy an image of what I thought I should be. I stopped trusting myself. I was trying to buy salvation. I lost myself…and found myself in the process. This conversation I began last week sparked a shitstorm. People I’ve known for a few years have stopped communicating with me. Others have responded to me with various feedback, including the many reasons why this conversation is both confrontational and offensive. Many of my colleagues are taking my message personally. I have a message for them and for you, which is that the conversation I started has nothing to with any particular industry. This conversation is about MONEY – how you are spending it, where you are spending it and what you are telling yourself about...