As you know, I set out to more less work for myself about four years ago. There are many positives to this life change. Though I have wavered in moments of hardship, I am certain it has been one of the better decisions I’ve made in my life. You hear a lot about the positives of freelance and entrepreneur life. The negatives, though, are no small part of the game. For starters, you wind up paying for a lot more by yourself. I detailed some of my costs in this blog post. Also, money comes in peaks and valleys. Not spending during the peaks and planning for the valleys is not an easily built habit. Time is also in your hands, which is beautiful and dangerous. Meetings, networking, scrolling, partying, traveling and more all can leave your productivity levels low. I’m approaching my role as boss in a new light this year, though. I’ve decided I’m going to give myself a raise.
How am I going to give myself a raise? Well, for starters, I can only go up from where I am. During the past few years, I have suffered significant personal losses. In the midst of my new freedom and my mourning, I splurged and traveled the world. I maxed out my first credit card. I’ve failed, succeeded and learned when it comes to my businesses. One of my lessons: taxes hurt. That being said, this year is set to be my most profitable. I’m not just going to give myself a raise by making more money, though….
Accountability: I’ve opened up about my finances and my budget to close friends and family. I’ve shared my goals. I’ve also reached out and worked with a financial advisor. I’m not only getting my retirement contributions back up and running, but I’m going to look at new ways to invest for the future. My network will keep me honest and support me. You are part of that network, too!
Cooking at home: I have a never-ending leak in my wallet from eating out. A lot of it honestly comes from my rushed schedule and lack of planning. I have some new tools and a commitment to cook more at home. I’m excited and I hope I can use my blog to share some recipes. This will help with accountability, as well.
Scheduling my spending: I kind of live and work on the internet. Many of us do. It’s easy to slip in a bit of shopping and spending within minutes. I also shop professionally for you my followers and for my clients. I am exposed to so many neat things every day. What I’ve decided to do is that I’ll designate days of the month I am able to spend outside of necessities. I will start making a list of items I’d like to buy on that date. Today was one of those days. On my list is a fitness outfit, sunglasses, tweezers, a hair brush, and a hair dryer. Because I started working on that list a week ago, it got smaller because I crossed other items off. I thought longer about certain items and decided I didn’t need them, at least not yet.
Using my tools: I use two amazing tools to manage my money. The first is Quickbooks. It is the most comprehensive way to request, track, and analyze your income if you work on your own. I also know some big businesses who use the more inclusive versions. The dashboards and reports are going to become my friend this year as I track my income more closely.
For personal finances, I’m using the Albert app. I did a lot of research for the right app when I knew I needed to get focused on my finances. Albert does a lot of cool stuff. For starters, I have it set to take out money from my account each week to put toward my credit card. It also categorizes spending so I can see trends and break bad patterns.
Asking for help: I don’t have to do everything myself. It’s a waste of time. I know this. I preach this to clients when I’m pitching my business. I don’t say it because I’m selling myself. I say it because I believe it. Why do something you’re not adept at if someone else can do it? Someone else can do it better and more efficiently. You save time and money in the long run. I’m getting my team together here and at Sweet Talk Strategy. They’re going to allow me to say “yes” to more business and produce more in the long run.
Saying no: I have a big heart and a workaholic attitude. I also want to soak up every minute of life on this earth. I am prone to over commitment. I am stepping back from the “do it all” mindset this year. It is draining personally and financially. I’m saying “no” to coffee meetings, to projects, to trips, to parties and more. In order for me to say “yes,” I will need one of the following:
-I must be enthusiastic.
-It must be very important to a family member or friend.
-It must help me grow.
-I must receive fair payment.
Otherwise, I’m going to use one of many sweet, kind, honest ways to say “no.”
Pressing pause: Along the same mindset, I’m going to be using Airplane mode more often this year. When I’m not working, I want to NOT work. I want to put my phone away. I want to unplug. I have a new relationship to nurture. My health needs attention so I can be productive and enjoy life when I need to. I also want to allow some of my ideas and projects room to breathe in my mind. I need to refuel my creativity. I can only do this if I take real breaks.
Thinking of the environment: Many of our more costly and frivolous of habits (clothes, eating out, travel, decor) are hardest on the environment. I wrote a bit bout my new focus on a sustainable wardrobe here. This is an issue I struggle with. I am going to put my money where my heart is. It won’t be all consuming, but I do want to keep this in the forefront of my mind.
How are you going to give yourself a raise this year? I’d love to hear your saving and spending tips! Drop them below.
