It's all about the money (and I think I had it all wrong anyway)

Today I'm covering a big, important topic for my wonderful coaching clients: MONEY and how to get more of it!

For years I had neglected the importance of money in my life. I saw it as an inconvenient but essential thing that kind of ticked along. I was pretty disinterested in moolah as long as I had enough for the essentials and a vaguely decent quality of life. I rarely checked my bank balance and didn’t know the first thing about my pension.

Even when I became a freelancer I paid as little attention to finances as possible. My motto was that as long as I was in the black and putting aside a little every month then I was ok.

But all of a sudden this approach wasn’t ok. After having my daughter my financial needs were very different. S**t got real.

I’m certainly not telling you this to put you off freelancing (or having children!). I’m sharing my experience because I now understand how important it is to look after money. And that doesn’t mean gunning for the highest paid job in a role where it feels like you're selling your soul or compromising your lifestyle.

To grow my wealth I’m studying a very powerful course taught by the magnificent Fiscal Godmother. Here’s what’s working for me from her teachings. I’m pretty sure it will work for you too as I know how bloody talented you are and that you deserve the finest things in life:

Knowing that I have the potential to significantly grow my wealth: Not in an airy fairy, dreamy way but in a way where I get up every day and feel motivated and excited about how I’m going to grow my wealth based on rock solid strategies I’ve now put in place.

Tracking my spending: For all of July I have noted how much I've spent and on what. This terrified me as an exercise as I didn't want to have to justify costs I'd usually brush under the carpet. But it has made a big impact, I can now see plainly the difference between expenses that I could live without and investments in my health, wellbeing and career, where I will reap the benefits back tenfold.

Asking for more: This is so tough for many of us but I’m getting my head around the idea of rating my services in the communications and coaching space based on the value they bring to people rather than the hours I put in. The more closely my work connects to my sense of personal purpose, the more confident I am in the value I bring and the more lucrative (and fun) projects become. Also, by not undervaluing my work, I can offer better quality and more attention to my clients, as I don’t need to spread myself too thinly.

Setting clear financial targets: I have done some important calculations to figure out what I want to earn each month to give me the kind of life I want. While it still feels terrifying to commit to these targets, the fact I have them is making things so much clearer for me in terms of what to prioritise and what will drain my time and not pay dividends.

Talking more about money: I blame my inherent Britishness for feeling embarrassed to discuss this topic. But in all seriousness, the more I’ve started to take an interest in my finances and ask questions of other people, the more in control of growing my wealth I become. For instance, just having a conversation with my partner about investments we need to make for our daughter is helping me plan ahead. Asking my accountant about tax implications of airbnbing our place is shaping my future strategy. I really needed to stop being so vague and disinterested in money!

Getting serious about the future: I often encourage clients to envision a future where they’re living an ideal life. I’m not trying to predict the future but supporting them to broaden their horizons and inspire them towards action. I’m now going one step deeper into this and looking at exactly how much money I’ll need to set aside to create my ideal future. Calculating the cost of my future dream home, living costs and any luxuries I deem necessary. This has brought me to a scary sum but it is certainly a wake up call to get moving on the money front, Ms Watt!

What state of health are your finances in? I can promise that my juicy career coaching will support you to raise your salary, get you a better paid job or establish a sustainable freelance career in a matter of weeks, so your future is financially healthier and your work lights you up.

And if you have a buddy who works in marketing and is struggling with his or her finances for the love of God throw them a life line and forward this blog so they can book their free one-to-one coaching session with me this week. (Limited slots available - so be quick!)

Wishing you a most prosperous week,

Amy

Amy Watt
Founder of Megawatt Coaching

Rocking my Riviera look in preparation for the yacht I'll be buying in a year or two of focusing on growing my wealth.

Rocking my Riviera look in preparation for the yacht I'll be buying in a year or two of focusing on growing my wealth.