by Kathy Kali, Money Coach & Fair Founder
Well, it's a new year. Again. Hopefully the haze from your holiday hangover has cleared, and you can start to take stock of things. Did you make more money last year? Did you give away more money last year? Did you save more money last year? Did you fulfill more of your life purpose last year? If you answered no to any of these questions, you've got some work to do on....MONEY.
With money I have learned, there are basic laws which are unchanging. Before I knew these laws I struggled with money. In the last 14 years of practicing and teaching these laws, they have provided security, and yes, WEALTH! In my own household we used these laws to up our net worth by $150,000 in 3 years. My clients use these laws to get rid of debt, give and save as regular habits, and build their nest egg.
Are you ready to master the mental & practical laws of money?
Well, then let's dive in!
THE BASIC LAWS OF MONEY
1. Make money.
The #1 law with money is that is okay to make some. One of my mentors Toni Stone always said, "Money will come when you are doing the right thing." And I have found this to be true. When I am following my heart and my purpose, the right jobs and chance to serve for me have materialized. And when I give and serve, money comes. And as I continue to ask "how can I serve better?" more money comes! This can mean upgrading your work ethic. If you are moaning about money and only work part-time, time to start hustling and working more!
Are you in action with your life purpose to serve others? Are you charging a good rate for your services or product? Some people believe they can pray money into existence. And yes, prayer and intention are useful. But you also need to be in ACTION. So if we need to work, and act, let's act for whatever brings us joy, and brings us the most income! And money comes as a result. And more money continues to flow, as we continue to serve in bigger and better ways.
Once we make money, then we can start to give.
2. Give money
The #2 law of money is that once we have an income, we have a responsibility to give. Giving is an ancient practice of giving 10% of your income away. To give is to remind our subconscious that "we have it to give", which affirms our own prosperity. When I started tithing I found my income grew steadily. I began to have an assurance of the flow of money. I also felt more "deserving" of receiving large income.
Where should you give? Traditionally tithing was done to spiritual communities. In modern culture many people receive guidance from many sources. So giving can be distributed to any place or places that inspire you: spiritual communities, counselors, healers, coaches, artists, or even charities and organizations doing good works. Giving is a personal decision and should never be coerced.
When we give, we have an assurance of prosperity.
3. Save money
The #3 law of money is to save some. Just like giving, saving is a spiritual practice and a practical habit. When we save some of our money, it creates reserves for security and for greater wealth-building. Just as the Babylonians and Hebrews saved grain for lean times, we can save for emergencies, large purchases, assets & investments which will produce income for our elder years. Saving just $50 a month for Christmas or Hanuukah can ensure your holidays are stress-free!
I recommend you save 15% of your gross income every month for retirement. Once again, use your monthly budget, or tracking system, to manage this. If you give 10% and save 15%, then you can live on 75%. This does mean that you have to have discipline and not allow your lifestyle to get out of control. Millionaires exercise this kind of self-control by eliminating debt and consistently saving money over many years, note Thomas J. Stanley & William D. Danko in The Millionaire Next Door.
When we save, we have longterm security.
4. Track money
Money loves to be paid attention to. It tends to grow in the presence of attention. When we do not pay attention to money, it disappears. How are you going to pay more attention to your money? One way millionaires grow their nest eggs is by using a monthly budget. This is a tracking system that is different every month based on your changing needs over time. You can use a paper budget or an online system like Mint or Everydollar, whichever you are more comfortable with.
One way to track successfully is to be in a class where others are tracking money. The culture of a group can support you to learn the new habit of budgeting. Be aware it takes 90 days to learn a new habit. So it is common when we work by ourselves to abandon budgeting after just one month. That is why my programs tend to run for 3-6 months. In just 3 months the average household pays off debt/saves an extra $5000!
When we track, we meet our money goals.
Kathy Kali~Money & Business Coach,
Founder of Conscious Living
Kathy Kali is a Certified Financial Coach and Founder of the Conscious Living Fair. Kathy teaches intuitive business owners: healers, coaches, teachers & leaders how to build wealth so they can make the world a better place. Her clients pay off debt/save an average of $5000-$15,000 in 3 months.