Have you ever heard of a money anchor?! Even if you have, it is always good to refresh on what they are and how they can help you to reach your money goals!
So what is a money anchor?! It is a tangible item, typically with the image of money on it. It should be something you carry with you or see often, like a keychain, mousepad, phone cover, actual money displayed in glass jars, etc. It can also be the passwords for your accounts - for example, changing your email password to "future millionaire." While most money anchors are directly associated with actual money, they can also be a visual representation of one of your money goals - for example, if you want to save enough money to take a trip to Disney World with your family, a mickey mouse keychain that you carry with you daily could be used as a money anchor.
Now that you have a clear understanding of what they are, lets talk through the top 3 reasons you need them in your life!
1) Money anchors serve as a visual cue, triggering your subconscious mind and providing a concrete image to you of your money goal. A non-money example of this phenomenon is the method most teachers use to teach people how to read -- you hold up a card with a picture of an apple, with the word apple written below it. Your mind learns to translate the written word with the identifying picture. Why is that important?! When you get your subconscious mind on board, it goes to work for you to meet your goals without you even consciously thinking about it! This subconscious shift has huge implications on your money mindset, which we will talk about next.
2) Having a money anchor changes your money mindset, eliminating the taboo aspect of money and helping you to address the often deeply engrained idea that money shouldn't ever be talked about. By removing the idea that money should never be talked about, you remove the stigma of charging the value of your services, asking for raises, and just talking about money in a way that feels comfortable. The constant presence of money anchors neutralizes your nervous systems response and allows you to talk about money in the same way that you would the weather.
3) Neuroscience of Visualization! Not only do money anchors impact your subconscious, they also cue your brain to visualize your next money goal! A money anchor literally activates the parts of your brain that make you seek out the opportunities to make your goals happen. I call this the “red car syndrome” - you never see another red car on the road until you drive off the lot in a red car, now they are everywhere! Money anchors help you to see various ways to make money, encourage you to seek out the opportunity to make connections and all of a sudden you have clarity, one step leads to another and your moving closer to your money goal.
So take some time today to pick out some money anchors to add into your daily life! Surround yourself with your money anchors to create the visual cue, acclimate your nervous system and release your limiting money beliefs, and allow the neuroscience of visualization to go to work in your life, helping you to consistently reach your money goals! Here are some of my favorite money anchors* - I can't wait to see what you pick as your money anchor, be sure to let me know!
*Please note these are affiliate links and I receive a small percentage from each sale.
Now that you've rewritten your money story, let’s talk budgeting. A budget for your business and home finances is so important! I like to picture money as a mischievous toddler, you need to take control of it and tell it where to go or it will just disappear. Being proactive with your budget allows you to take control of your money and helps with so many other aspects of your money mindset.
When creating your budget, you have to budget for your real life and not your ideal life. For instance, in my ideal life my family is eating healthy, home cooked meals seven days a week BUT in my real life we’re definitely eating out at least two nights a week. When I am creating my budget, I need to make sure that I am accurately accounting for how my food budget will be spent. Be honest with yourself and budget for real life.
As you create your budget, you need to be aware of your money doubt backpack. Didn't you know you are constantly walking through life carrying a money doubt backpack full of bricks that include all of your money anxiety, your generational money mindset, the things your friends have said to you about money, your money beliefs, and your money doubts. You’re carrying this weight with you all the time?!
Now I want you to envision that backpack, and look ahead to your new relationship with money - do you want to carry all of that weight with you into the next month? Do you want to carry your doubt and anxiety and fear? Or do you want that backpack to be full of just the essentials?
Here is the awesome thing: You get to choose what you carry in your backpack and you can choose to eliminate some of the weight. To do this, you start by removing the bricks and naming them. Just like you name your children, you name the bricks. I recommend creating an actual visual to look at and decide what you will carry with you (or not) into the next month.
And just as a reminder… it is ok have nice things, it is okay to own your wants and you don’t have to justify them. Not everything is going to be justifiable, and when you try to justify your wants, you only validate your fear, so you have to be mindful of that.
So let me know, which bricks will you be leaving behind?
We talk a lot about rewriting our money story and choosing a new belief system, but what does that actually look like? I want to share a few tips with you on how to do it the right way.
In reality, most of our money beliefs are not actually ours to begin with, they are a mix of beliefs that have been instilled in us from our grandparents, parents and families. Add in what we receive from social conditioning (social media, our co-workers, our friends, etc.) and it can be difficult to discern what it is we really believe for ourselves.
So, when you choose to rewrite your story you need to create a regression timeline. Take time and look at your life year by year, beginning with your earliest memories from childhood to identify common money stories that might exist in your life. For example, maybe your father lost his job when you were 7 and that had a great impact on your family. Now when you look at how you handle money, you are extremely frugal even when you don't need to be because you do not want to find yourself in the same position as your parents. Take a careful look at all of the patterns of behavior that may be repeating cycles in your life because you haven’t changed your perspective on the past.
Now that you have identified your money stories, look for what was amazing in those stories. For example, reframe your thought pattern to: even though my dad lost his job and we were eating rice & beans, I was spending every afternoon in the park.
Find the goodness in your story, see how the things that happened made you more resourceful or more caring. Reframe the story into a new and better story that made you the amazing human being that you are today.
I have my own story on reframing my past; when my family had to leave everything behind in Brazil to come to the to the US. Not only did they have to leave their possessions, they also left behind their community and who they were. So instead of saying my parents had to leave everything behind and they had nothing, I say “my parents invested all that they had to make room for more.”
Make sure you do not skip over this examination of the past as the first step in rewriting your money story. Why? Because you can't move forward without this deep understanding of where your beliefs came from.
Now, as you start to plan for the future you get to choose a new money system and belief. The key will be actually acting on that belief, because remember your life doesn’t change by inspiration and motivation, it changes by the actions that you take. The thing is, that even though you are taking on this new money mindset, it doesn't mean that all of your money struggles will disappear, but now you will make a change in the way you respond to them.
So how do you do that? You have to actively act on your new belief system - you have to believe that when you’re paying bills that you’re just making room for more money to come in. You have to prioritize being generous and allowing yourself to buy the things you want and need. You have to normalize investing in your business.
Make sure you also look for the wealth in other areas of your life as well, see the abundance that doesn’t come from money, but from the world around you. Celebrate that you can sleep late and wake up without an alarm clock, celebrate the crafts that you make, celebrate the conversations you have with friends and family. See all aspects of your life as abundant.
Now, here is something I get asked all the time -- if I am content and celebrating my abundance, am I able to still crave more? The answer is YES! You can live in a state of contentment and gratitude and still have desires for bigger and better things. Why? Because who benefits from your playing small? Who benefits from you downplaying your gifts? Who benefits from your lack mindset? The answer is: No One, except your comfort zone!
Now lets look at it from the other perspective. Who benefits when you are ready to really step into your marketplace and show up with your skills and talents? Who benefits when you are ready to have success? When you are ready to live a life that is full of abundance? Everybody Wins! What you might not immediately see is that there is a ripple effect -- your children are watching, you get to invest in your community and the causes you care for.
So now is the time to show up for yourself, to step into your new money mindset, to believe in the difference you can make and to put you and your business first.
Did you know it’s possible to gain clients without following the “standard” procedures of making connections? In a world of instant gratification, there isn’t time for getting to know each other and there definitely isn’t time to build trust. Lucky for you, I am going to share with you the three steps you can use to bypass the know, like, and trust factors and go directly for the relationship.
The first step is go deep. On that very first call dig deep into that person’s life, don’t be afraid to get to know them on a very personal level. Sometimes the conversations can get awkward, but that’s ok; the most awkward conversations can turn into the most amazing breakthroughs!
The second step is to show them what you can do for them, rather than tell them. Create a strategy, develop mindset and show them the plans to solve their problem. Allow them to see themselves in the solution.
The third step is make it easy. Make it easy for your clients to sign up for your services, make it easy for them to reach you when they are in a bind. Doing so will make it easier for them to continue to sign a contract with you.
Now let’s talk about the value ladder; in reality the value ladder is an old business motto that nobody has time for now a days. The value ladder tends to create layers of band-aid’s rather than going straight for the surgery.
And when that first band-aid doesn’t solve the problem, do you really think they’re going to invest more? Probably not.
So go for the surgery! Stop offering band-aid’s and go straight for the surgery. For those of you that are offering a service that changes lives, think of yourself as a brain surgeon, we change the way people think of themselves, we change the way people think of the world, we change their perception of what is possible for them, and that is truly what creates the transformation.
So don't think of yourself as a band-aid keeper, but as a brain surgeon where you’re going to be able to change their lives forever.
So go big, move fast, and watch your business go to the next level!
I love sharing many of my beliefs, thoughts and at times unpopular opinions.