End The Cycle of Paycheck To Paycheck By Rewiring Your Money Story
Have you ever wanted to invest in your future while living in the vicious paycheck-to-paycheck cycle?
It’s like you know you have to do something different to get a different result, but what exactly can you do?
You see programs and coaching packages & know there is a huge possibility they could help you create a different future for yourself.
You get super excited, then you see the price tag & you think, “But I can’t afford it.”
So you question over & over again, “How do I break the endless cycle?”
Progress can be made and success can be created.
In this training, you will learn the 3 Basic Money Principles to having a money story you can be proud of.
3 Basic Money Principles
Principle 1- Mindset
The first principle consists of mindset. It’s all about your money story. This is the story of the beliefs you have compiled within you from experiences and caregivers throughout your life.
These beliefs are rooted deep within to form what you believe to be true about money.
Now here is the problem…
The money stories you have within can often prevent you from making the money you desire because they are self-limits that block the money from coming to you easily.
Think of 2 magnets of the wrong side trying to be forced together.
They create a force of resistance.
Negative Money Stories
Ever heard the saying, “Money is the root of all evil”?
Well, let’s face it, people have paraphrased that saying just like the circle game you played in elementary school, where you have to whisper a phrase all the way around the circle & see if it comes out the exact same with the last person.
Do you have the phrase of “money is the root of all evil” constantly in your head on repeat?
Money is not evil; you have to have it to survive and to be able to give freely to others.
Isn’t that one of the main goals of life, to be able to help other people?
Money is a good thing, and your mindset around it has to be good in order for the universe to bring you more of it.
In the Bible…
The true saying is 1 Timothy 6:10 King James Version (KJV) 10 For the love of money is the root of all evil: which, while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
Now, in order for you to understand this and get the full message of what is being said, one would have to read 1 Timothy 6: 3-19. Broken down, what these verses say is that money is temporary and nothing should be valued as much as eternal life, sharing the message, and pursuing righteousness, godliness, faith, love, perseverance, and gentleness.
It additionally goes on to say that seeking to be rich in money and being rich in money leads to temptation, which causes people to wander from their faith. Lastly, it talks about how it’s not wrong to be rich but those who are, should not be conceited and should be instructed to do good, to be rich in good works, to be generous and ready to share, storing up for themselves the treasure of a good foundation for the future, so that they may take hold of that which is life indeed. So, as you can see, saying “money is the root of all evil” that most believe is far from the context it was taken from, and there are many limiting beliefs out there that people choose to believe that are only holding them back from the righteousness they deserve when it comes to money.
My point is, there are a lot of stories within us around money and other things that have been passed on for generations that do not serve us.
Another great example is “Money doesn’t grow on trees.”
But doesn’t it? Money is paper & paper is made from trees, so at the root, the money is a tree.
It’s all in how you choose to BELIEVE in it.
A few more limiting money beliefs you may need to rewire:
- The rich get richer and the poor get poorer.
- I’m just not good with money.
- Money doesn’t grow on trees.
- My family has never been rich. It’s hard to make money.
What are some limiting money beliefs you have?
Shifting Your Money Story
Create a money story that is in alignment with what you desire to be true about your finances.
Determine what it is that you believe about money.
Fill in the blank… Money is ____________.
Then forget everything you have been taught about money.
What do you now want to be true of money?
When wealthy people invest, what do you believe they think about investing?
What beliefs in you are not serving the wealthy human you want to be?
This allows you to begin taking the actions of someone who already has the kind of money you desire.
The shift then starts allowing you to believe & think differently about money.
This creates new neural pathways within your brain so that your body performs differently when thinking about large sums of money.
Ask all your questions & get support in The Passion Profit CEO Support Community.
Principle 2 – Purpose
The first rule about money is that it has to have a purpose.
It’s just like our life, in order to find fulfillment in our lives, we have to understand why we are here, what it is that we were created for & how we will take action.
It is the exact same for money.
Money has to have a purpose in your life.
There has to be a reason for you to have it, and you must know where it will go and how it shall be used once you gain it.
When money has a place to go, it’s easier to manage it and understand its purpose.
We use money for so many things like Giving, Saving, Shelter, Nutrition, Health, Transportation, Personal, Joy, & Lifestyle.
When your money has no purpose, when you don’t know how much you need, and when you are not responsible with spending, you wind up digging ditches, and then later you wonder how you have been swept into the deepest part of the gulf and water over your hea,d feeling like you are drowning.
It’s time to take control and take responsibility for your finances. Start keeping track of your income & expenses. (It’s a lot like business bookkeeping) you must know exactly how much you need and where it will go once you make it.
It’s time to Budget!
Tracking Your Money
There is a great app by Ramsey Solutions called Every Dollar.
Dave Ramsey and Rachel Ramsey Cruze invented this app to help you with budgeting your money.
As you have learned, every dollar has to have a purpose.
This allows you to track your spending habits & see where all your money is going.
Then, from there, you can create a plan to better serve your finances.
You will also want to do this separately in your business to be savvy with money there as well.
Principle 3 – Plan
As you might have guessed, principle 3 is to plan.
Plan out the future, The Desired Lifestyle Budget Worksheet can help you know exactly how much money you need, not just for your needs but your desires, too.
If you are not planning to win, you are planning to fail.
Do you want a house or a vacation home, maybe to put your kids through college, to travel, etc?
Maybe you just need an emergency fund or would like to be able to retire someday.
If your budget doesn’t currently allow you to save for these things, you have to come up with an income plan to find a way.
Keeping a budget allows you to think smarter, see areas where you can sacrifice a little to gain a lot by investing.
If ends aren’t meeting with your money, you might have to expand your income sources, perhaps creating a side business, for additional income streams.
Create A System
Once you have seen your budget & are planning for the future income to have a purpose, you want to have a good system to follow.
Again, Dave Ramsey & other financial coaches have created good example systems to help plan out where your money should be going so that you can make the most of the income you have.
Dave calls it the "envelope system" with 0-based budgeting.
Every dollar you make when paid goes into different envelopes based on the budgets you have set.
This allows you to see where you are splurging & where you could benefit from lowering your budget in other areas to prepare for other purchases & savings for your future.
No matter what, you just have to create a system that works for you.
There is so much more to life than living paycheck to paycheck, but to do that with any budget, you have to know how much you have coming in, where it's going, and where it needs to go in the future.
Danielle's Story
I have been in that position, not even making it to the next check, having to choose between paying bills, food, or electricity!
Yes, it was hard choosing between the basic needs and having nothing left after.
I know there are many others out there who sit in that very same boat rowing and rowing and feeling like they will never reach the shore.
A wise woman once told me,
"Purchases are not debt if there is a possibility of ROI- Return On Investment. It is an investment worth spending."
This one sentence changed my life because in that moment, I saw money differently.
That next $300 paycheck we received, I stopped choosing between the needs & bet on myself.
I invested in an opportunity to start my own business & create a better future for my family.
The odds were so much better than betting that things would be different if we changed nothing.
Now with over $120K invested in multiple businesses with multiple income streams, living a life we have designed ourselves with the freedoms we desire, I couldn't imagine not investing on learning everything above to create this better life we have.
Start small & grow as you go.
Conclusion
If you follow these principles, with time, you will find peace and freedom in your finances. The journey will not be overnight, but your potential is endless.
Even as you grow, investing can be hard. You will always have the sweats and feel like you are going to vomit when you are pushing yourself outside your comfort zone, but this is where real transformation takes place because you gain things within you that allow you to be more of the successful version of yourself.
It takes stepping into the shoes before they fit to truly have anything you desire.
Ending the vicious cycle of paycheck to paycheck requires awareness & taking responsibility that there is a problem, rewiring money stories that are not serving you, gaining support to learn what you do not know on how to think & behave differently, becoming committed & self-disciplined in holding true to the vision & abiding by the budget & plan.
Check this video out for inspiration on your journey.
Learn more about manifesting here.
Ready For Support?
It is with great pleasure that Passion Profit CEO can now help you through your money blocks for a fraction of the price I paid to get started on my own journey. If you are living that paycheck-to-paycheck life & wanting to start investing in your future by starting a business + working through your money blocks, I invite you to schedule a consult & let's work through it together.
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