Money Lessons to Prosper and Grow

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Money Lessons to Prosper and Grow

I recently spoke at a Business Women Australia event on how I plan my business and personal budgets in a way that has helped me save a reasonable amount of money. I talked extensively about how important it is that the business is profitable and how that profit is what enables the owners to live the life they choose. 

Back in 2013, I set a goal to save $58 000, by the end of that year I had over $71 000 in my savings account.

What happened leading up to and during that year was quite phenomenal. I found money coming to me in the most peculiar ways.

What was important about this was, I had set the intention to save money and it happened. The reason I was compelled to set the goal in the first place was because the prior year, 2012, we had finished paying for our house and at the same time our eldest son completed his final year at university. Both my husband and I were pretty chuffed because we were debt free and our commitments to supporting our son who was living away from home were over, giving us a surplus of almost $1000 a week.

By October 2012, ten months later, we had absolutely nothing to show for the surplus money we were meant to have. It seemed to have just slipped through our fingers, I was appalled that this had happened and was determined to make sure that money did not get wasted again.

Once I made my mind up and set the intention to save, money started to flowing to me. Every spare cent that came my way I stashed into the saving account, it became a game. If I went out with someone and they offered to pay, I would transfer that amount into the savings account. I was going to spend it anyway.

I wrote down 100 times why I deserved money

An exercise I was given by a mentor of mine, Benjamin J Harvey was to write down 100 times why I deserve money, this was an interesting exercise and really stretched my brain. One of the key factors was not to repeat the same reason twice. Meaning, I had to come up with 100 different reasons. 

Setting the intention is only the start of reaching the goal, writing it down and creating a plan to make it happen was the key.

At the beginning of 2013, I went through both my business and personal spending with a fine toothed comb and set up a budget to make sure money never slipped through my fingers again.

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