Are you ready to master your money mindset and take back control of your finances?

Let's face it, no one likes being in debt. However, it is a reality for many. Student loans, mortgages, and credit cards all serve to set you back financially.

If you want to get out of debt, you have to change your money mindset. Your success is determined, in large part, by your ability to effectively manage your money.

The key to getting ahead financially is getting started. If you're ready to change your financial situation, keep reading!

Watch the video below:

(Click here to watch on YouTube)

[smart_track_player url=”https://stream.redcircle.com/episodes/384f53f2-b196-4192-9b1b-2e00805fcc63/stream.mp3″ background=”default” ]

Are you ready to build a million-dollar online business? CLICK HERE to take my FREE quiz to discover which online business model is best for you!

Financial stress can impact your mental health.

According to Forbes, individuals with high financial stress are twice as likely to report poor health overall and are four times more likely to complain of ailments. Despite this reality, people still fall into the trap of overspending on things that they don't need.

In short, they have bad spending habits. As a result, they end up falling into debt. It can be very challenging to get out of debt due to high-interest payments, which is why you want to avoid debt at all costs.

Credit cards and other unsecured loan debt tend to have interest rates higher. The average personal loan interest rate is 9.63%, while the average credit card has a 14.52% interest rate.

Money management has been the key to my success in life. However, I didn't always have good money habits. When I was in my early 20s, I was in a lot of debt. In fact, I racked up $15,000 in credit card debt.

I was living above my means and I had no idea where my money was going every month. It wasn't until I got real with myself and stopped avoiding the reality of my situation that I was able to take back control of my finances.

You can't be blind to your finances. Rather, you have to be hyperaware of your income and expenses. Track everything that you spend. Create a monthly budget and start reducing or eliminating any expenses that may cause you to overspend.

It's not the amount of money that you budget that matters.

Rather, it's the habit of budgeting that makes all the difference. There is no point in making more money if you cannot manage the money that you already have. By building the habit of money management now, you will be able to manage higher amounts of money in your future.

When it comes to budgeting, you can expect to have to make some sacrifices. I had to give up a lot of things that brought enjoyment to my life to get out of debt. I'm not going to say that it was easy, but the payoff was well worth it. I swapped short-term gratification for long-term wealth.

When I started my online business my first goal was to make $1 online. John Hayes was the first Internet marketer to make $1 million online in one day. He believed if you can make $1 online, you are 95% away from making $100,000 online.

The moment that you make $1, you get instant validation that whatever you're doing is working. This is what gives you the confidence to keep going and find ways to scale up. This is exactly what I did in my online business.

I've gone from being broke to becoming a multi-millionaire. 

Another great way to get ahead financially is to invest in yourself. You never lose by investing in your future self. In the words of Warren Buffett, “The more you learn, the more you will earn.” Attend seminars and events, read books, or find a mentor.

When you invest in your personal growth and development you learn skills that increase your value and potential to make more money. Over the years I have invested hundreds of thousands of dollars into myself. As a result, I've been able to build a 7-figure business doing what I love.

This is the money mindset of a millionaire.

No matter how bad your financial situation is right now, you have the power to take back control of your finances. When you change the relationship that you have with money, you start attracting more wealth into your life.

Financial success doesn't happen overnight. However, if you're committed to reaching your financial goals, there is no limit to what you can achieve. Are you ready to master your money mindset and build long-term wealth?

Are you ready to build a million-dollar online business? CLICK HERE to take my FREE quiz to discover which online business model is best for you!

Are you ready to achieve financial freedom?

Financial freedom is all about taking control of your finances. I believe that anyone can transform their financial situation.

However, if you don't have a healthy relationship with money, you'll continue to encounter money issues.

In this blog, I share a simple method for managing your money for financial freedom.

If you are tired of living paycheck to paycheck, you'll want to read this.

Watch the video below:

(Click here to watch on YouTube)

Do you want a copy of my FREE money management spreadsheet for creating financial freedom? CLICK HERE to download it!

This page contains affiliate links. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefitted from personally. Thank you for your support!

You can't earn your way to financial freedom.

A lot of people can earn a lot of money, but they don't know how to hold on to it. As a result, they fall into debt. I can relate to this. There was a time in my life where I was in a lot of debt. I didn't have a system or a method for managing my money.

I had money coming in, but I was freely spending it and not paying attention to where it was going. When I received my credit card statements every month I realized that I was spending more than I could afford. Even worse, I continued this behavior and kept digging myself into a financial hole.

It wasn't until I learned how to manage my money that I finally felt in control of my finances. I'm going to share a money management system with you that I used to get myself out of debt and achieve financial freedom. You can apply this system easily to your financial situation.

The habit of doing this exercise is more important than the amount of money that you have in the bank. If you can't manage the money that you have right now, you will not be able to handle larger sums of money.

Watch the video above where I share my computer screen and walk you through the money management spreadsheet that helped me achieve financial freedom!

Money Management Method – The JARS System

I learned a simple, yet powerful money management method from T. Harv Eker. In his book, Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth he teaches you how to manage your money for financial freedom. He suggests that you break down the money that you make and your expenses into six jars or categories.

Category #1 – Necessities (55% of your income)

These are things like your rent, mortgage, utilities, groceries, gym membership, car payments, phone bills, etc. You want to make sure that 55% of your income is going towards the things you need every day to live your life.

Category #2 – Fun (10% of your income)

It's important to focus on your goals, but you also want to make sure that you're enjoying your life. This is your play money for activities that you enjoy, like dining out, traveling, or pampering yourself.

If you're enjoying the benefits of your money, you will link pleasure to the process of having money. In short, having fun will motivate you to make more money.

Category #3 – Education (10% of your income)

A lot of people settle for whatever amount of money that they make. They don't aspire to achieve more. Saving money can be hard, but when you take the time to learn about money and invest in yourself, the process can be enjoyable.

I believe in the power of education. Investing in myself has been one of the most important things that I’ve done that have contributed to my success in life. In the words of billionaire investor Warren Buffett, “Ultimately, there’s one investment that supersedes all others: Invest in yourself.”

One of the best ways to improve your finances is to learn from others who have achieved the success that you desire. You can invest in their knowledge and learn directly from them. This knowledge can be consumed in the form of books, seminars, mentors, and coaches.

Category #4 – Long-Term Savings (10% of your income)

This is your “emergency fund” money that you don't touch. You never want to be in a position where a crisis hits and you have zero savings.

Ideally, you want to make sure that you have 3-6 months' worth of your expenses put aside in a savings account for emergencies. Also, you want to allocate a certain percentage of your income to a future goal that you want to achieve, like buying a home.

Category #5 – Financial Freedom (10% of your income)

This involves taking a percentage of your money and investing it into assets that can appreciate over time. This could be investing in cryptocurrency, building an online business, developing an app, or building a YouTube channel or blog.

There are so many investment opportunities available to you. However, if you don't put aside money for your freedom, money won't magically fall into your life. If you have to cut back on your necessities to put money aside for your freedom, do it. Otherwise, there is no possibility of achieving financial freedom.

Category #6 – Contribution (5% of your income)

This could involve giving a portion of your earnings to a charity or giving money to the homeless. Not only is contribution great for others, but it's also important for you. Authentic fulfillment comes from contributing to others.

It trains your brain to operate from a place of abundance rather than scarcity and fear. When you have your hands open to receive, more good things will flow into your life. However, if you're worried to give anything away, you cannot receive more.

Wherever you are starting from is OK.

We all start somewhere. However, you will never get to where you want to go if you don't know where you are. You want to create your personalized money management system based on your current financial situation.

As an example, if you go through this spreadsheet exercise and realize that 90% of your income is going towards your necessities, that means that you've got no money left for the other categories that I shared above. If this is the case, you've got to get creative and figure out how you can lower your necessities.

It comes down to determining which of the categories you can't afford to do right now, in the pursuit of achieving financial freedom. At the beginning of my entrepreneurial journey, I was willing to sacrifice fun because freedom was more important to me.

In my opinion, staying consistent with your education is critical. If you don't grow, you'll stay stuck. Your income is in proportion to your level of personal development. The more that you develop yourself, the more money that you'll make.

This is how to manage your money for financial freedom.

I hope that this money management system proves to be as life-changing for you as it was for me. Listen, I know what it's like to struggle financially.

However, your past financial mistakes do not have to define your future. Take ownership of your mistakes, learn from them and focus on creating the financial freedom that you desire and deserve.

Do you want a copy of my FREE money management spreadsheet for creating financial freedom? CLICK HERE to download it!

I am here to show you how to manage your money for financial freedom. Being financially free isn't just about making a lot of money.

Instead, it's about learning how to be smart with your money, and using it in a way that ensures that you can live the life that you desire, both now and in your future.

A lot of people struggle with basic money management skills, and end up learning the hard way, in the form of a mountain of debt and financial stress.

Money management is the one skill that every successful person has mastered. Are you ready to learn how to manage your money for financial freedom? In the words of David Ramsey, “You've got to tell your money what to do or it will leave.”

Watch the video below:

(Click here to watch on YouTube)

[smart_track_player url=”http://www.buzzsprout.com/9299/588997-plm-493-money-management-101-how-to-manage-your-money-for-financial-freedom.mp3″ background=”default” ]

Do you want to learn how to master every area of your life? CLICK HERE to join my Life Mastery Accelerator program!

Before you can even think about investing, you need to learn how to manage the money that you already have.

If you possess a scarcity mindset and don’t do the work to change your habits, it’s almost a guarantee that you will end up in the exact same place you were in before – drowning in debt.

When it comes to managing your money, there is a simple formula that I learned from T. Harv Eker. In his book, Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth, he teaches a very effective money management method, called the JARS System. This method is designed to teach you how to manage your money for financial freedom.

He suggests that you break down the money that you make and your expenses into six jars.

1. Necessities (55% of your income)

These are things like your rent, phone bill, Internet, car payments, etc. A lot of people get this part wrong, in that they spend 90-100% of the money that they make on these necessities. These types of people are living paycheck to paycheck.

2. Long-term Savings (10% of your income)

This is your “emergency fund” money. When it comes to saving your money, you want to make sure that you have at least 6 months worth of your income or expenses put aside in a savings account.

The reason why this is important is because you never know what is going to happen in life, whether that be a natural disaster, an injury, a job loss, a recession in the economy, etc. You need to be prepared in advance.

3. Financial Freedom Account (10% of your income)

This is money that you are going to put aside for investing in your future. The more money that you can invest here, the farther you will go.

I would say that 80% of my income goes towards financial freedom. Even though I enjoy a great life, I've been very hesitant to upgrade my lifestyle in order to match the money that I make. Why? Because I'm always thinking about the life that I want to create in the long-term.

4. Education (10% of your income)

The best investment that you are ever going to make in your life is an investment in yourself. This could be in the form of books, seminars, courses, coaching, etc.

Investing in myself has been one of the most important things that I’ve done that have contributed to my success in life. When you commit to investing in your personal growth and development, you are creating a better and brighter future for yourself.

5. Fun (10% of your income)

This money is for leisurely activities that you enjoy, whether that be travel, movies, entertainment, etc. It’s so easy to get caught up in the responsibilities of life, that we forget to let loose sometimes and have fun.

Make time to do things that bring joy to your life. Yes, it’s important to stay focused and follow your dreams, but don’t forget to enjoy yourself along the way.

6. Giving (5% of your income)

Giving a portion of your earnings towards a cause or charity that you are passionate about will bring a sense of meaning to your life. Moreover, it will train your mind to operate from a place of abundance.

This is how to manage your money for financial freedom. I hope this 6-step money management system helps you create the financial abundance that you desire.

Financial freedom isn’t just about having money. Rather, it’s having the freedom to design the life of your dreams – to do what you want and be who you want. Trust me when I say that it’s worth the hard work that it takes to get there.

Do you want to learn how to master every area of your life? CLICK HERE to join my Life Mastery Accelerator program!

What it’s REALY like to be a millionaire. Is this something you have ever thought about? Many people have an idealized notion of what it means to be a millionaire.

Just because someone is a millionaire, that doesn’t necessarily mean that their lifestyle aligns with their bank account.

Most successful millionaires do not live how you think they do. Not only that, but they set themselves apart from others by the skills that they have mastered; like confidence, discipline, emotional intelligence, and money management; to name a few.

Becoming a millionaire doesn’t happen overnight. I know that many of you have goals and aspirations of joining the ‘millionaire club’ one day, so I’m happy to share my story with you.

Are you ready to learn what it’s REALLY like to be a millionaire? You may be surprised by what I have to say.

Watch the video below:

(Click here to watch on YouTube)

[smart_track_player url=”http://www.buzzsprout.com/9299/569929-plm-475-what-it-s-really-like-to-be-a-millionaire.mp3″ background=”default” ]

Do you want to learn the 7 online business models that have made me an Internet millionaire in less than 3 years? CLICK HERE for instant access to my free course!

This page contains affiliate links. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefitted from personally. Thank you for your support!

Since I was 17 years old, becoming a millionaire was a goal of mine. I became a millionaire when I was 28 years old.  When I achieved the label of ‘millionaire', it didn’t mean that much to me, like I thought it would.

A more pivotal moment in my life was the point at which I was making a 6-figure salary. That is when my life transformed. I was able to travel, quit my 9-5 job, and I didn’t have to worry about money. I had finally achieved financial freedom.

This is what it’s REALLY like to be a millionaire.

A lot of people get consumed with the idea of making ‘big’ money, fast. Adopting this get rich quick mentality can be a form of ego gratification or an insecurity.

When you are obsessed with making a lot of money, it is easy to lose sight of what really matters most in life – happiness. The fact is that money does not buy happiness.

Research shows that wealth may make it harder for you to appreciate simple pleasures in life, and that’s bad news for your mindset, given that most of life is made up of simple moments that have a lasting impact on our lives.

Michael Norton, co-author of the book, Happy Money: The Science of Happier Spending, suggests that, while this is all well and good, the simple pleasures in life don’t seem as exciting as the extraordinary ones.

However, he points out that you can shift this perspective by giving up a simple pleasure for a period of time, which will allow you to savor it even more when you bring it back into your life.

Oftentimes our favorite moments in life don’t involve extravagant things. Rather, they are simple things, like a conversation that left you laughing for hours with people that you love.

This is what it’s REALLY like to be a millionaire.

As many of you know, I preach the value of life mastery. I believe that relationships, health, and positive emotions trump money. You can have all the money in the world, but still be depressed, lonely, and unhealthy. In my eyes, that’s not a definition of success. That’s failure.

I know that I said earlier that I don’t think that money can buy happiness, but there are some circumstances where I believe that it can.

Money allows you to travel the world and experience new and exciting things. Memories of places that I’ve gone and the people whom I’ve shared those experiences with have brought an abundance of joy and happiness to my life.

Money also allows you to invest in yourself. If you aren’t growing, you are dying. The more that you are progressing in life, the happier you will be. For example, I am able to purchase things like a PEMF EarthPulse mat for my bed, which improves my sleep, so that I can perform at my best, every day.

Lastly, one of the biggest things that money provides you with is time. When you leverage it correctly, you can use time to do more of what you really love.

To make a million dollars you need to become someone of value and develop incredible habits that translate to all areas of your life. That is what I am most proud of in my life. The money that I’ve made as a result of the work I’ve done is merely a secondary benefit.

This is what it’s REALLY like to be a millionaire.

Jim Rohn once said, “The greatest reward in becoming a millionaire is not the amount of money that you earn. It is the kind of person that you have to become to become a millionaire.”

Are you ready to upgrade your lifestyle? Be proactive and strive to become the best version of yourself. When you commit to life mastery, anything is possible.

Do you want to learn the 7 online business models that have made me an Internet millionaire in less than 3 years? CLICK HERE for instant access to my free course!

I would like to share with you some money management tips for getting out of debt. Debt is no fun, and the emotional burden that it can create in peoples’ lives can be overwhelming. Henrik Ibsen said it best, “Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt.”

Have you ever wondered why so many people have outrageous debt? A large reason is due to the lack of having a well-disciplined budget and financial life.

Managing your money doesn’t have to be difficult. It’s about knowing how you are using your money. How would your life change if you were free of debt? Make a decision to get rid of it, once and for all.

Watch the video below:

Click here to watch on YouTube)

Are you ready to learn how to master your finances so that you can succeed faster? CLICK HERE to join my Life Mastery Accelerator program!

Below are 5 money management tips for getting out of debt:

1. Be Aware of And Accept Your Debt

One of the most difficult things to do when first getting on the debt pay-off journey, is to truly accept your debt. Oftentimes, the reality of debt is too painful to acknowledge or accept, so the natural response is to avoid that it exists. I speak from personal experience.

When I was in my early 20’s, I was in a lot of debt. I had to make sacrifices in order to manage my money more efficiently and become debt-free. It was the acceptance of my reality that allowed me to make a change in my life. If you are serious about becoming debt-free, you need to acknowledge its existence. Be proactive. Don’t live in fear. Instead, take action. 

2. Decide To Change your Spending Habits

Making a decision implies that you are about to take action. When you make the decision to change your spending habits, you are halfway there to financial freedom! Saving money is about changing spending habits. What are your spending habits?

In order to become debt-free, you need to address the actual money management habits that you are struggling with, that led to the debt in the first place. Ramona Pearson, a certified public accountant and personal financial advisor said that “Money habits are formulated at a very young age for most people.” Take the time to figure out why you're spending habits are the way they are.

Sure enough, this is the reason why a lot of people that win the lottery end up losing it all. They don't take the time to develop the discipline in order to manage their money properly.

Focus on cutting your expenses or your overhead in some way. This will allow you to have some extra cash flow every month. Then, you can use that cash flow to start paying off your debt.

3. Track Your Expenses

If you want to free yourself from debt, you need to start tracking your expenses. The best way to work out what you spend your money on and how much you have left at the end of every month, is to keep a record of all your expenses.

According to Pick The Brain, for two weeks you should write everything down that you spend. Record the time, the place, and how much it costs. Doing so will help you identify your spending patterns.

If you haven’t done something like this before, there is a good chance that you will shock yourself. How often do you track your money? If the answer is never, it’s time to get out a calculator and start doing the math!

4. Don’t Spend What You Earn

Once you start making money, don’t be tempted to spend MORE money. This is where people get themselves into trouble. You have to discipline yourself to NOT engage in this behaviour.

In his book, Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!, Robert Kiyosaki said, “Invest in assets, not liabilities.” An asset is something that puts money into your pocket, while a liability is something that takes money out of your pocket. Which category does everything in your life fall into?

If you can’t manage the money that you currently have, then there is no point making more money. If you adopt the mindset that making MORE money will be the answer to your debt issues, you are wrong. This is a recipe for disaster.

5. Reward Yourself

Adjusting to a new style of living involves sacrifice. Breaking bad habits, especially when it comes to spending money, is hard work. This is why it’s important that you reward yourself when you have practiced self-discipline.

Be kind to yourself and engage in mini-celebrations, now and then. Why? Because the MORE that you acknowledge and reward yourself for your successes, the more success you will have.

Charles Duhigg, New York Times reporter and author of The Power of Habit: Why We Do What We Do in Life and Business, said “First, you have to pick a cue, like every single time that you get a pay check, you’ll move 5% of it into savings.” The key to making your habit stick is to give yourself a reward every time that you engage in a positive behaviour.

Debt is debt, but don’t feel that you have to punish yourself because of it. Honour the small achievements that you make every day, on your journey towards financial freedom. How you choose to manage and spend your money can have a profound impact on your life. I encourage you to follow these money management tips for getting out of debt.

Your ability to make good money decisions will end up shaping the direction that your life will take. Are you ready to be free of debt? Take control of your financial future now!

Are you ready to learn how to master your finances so that you can succeed faster? CLICK HERE to join my Life Mastery Accelerator program!