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Welcome to Life's a Game, a weekly newsletter to help ambitious people build a more meaningful and integrated life. Was this sent to you? Subscribe here so you don't miss the next one.​

4 Steps to ⬆️ Financial Health

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Quick Spin:

• The limiting belief I was struggling with
• 4 Steps to ⬆️ financial health
• Free Money Mistakes Webinar: October 24th

🧩 Thanks to our sponsor for keep Life's a Game free

This newsletter is brought to you by Found banking software. I started using Found 8 months ago due to its ease of use, smart expense tracking and tax savings features. If you want to try Found for free - click here. ​

♟️ MY TURN:

“Money comes from hard work.”

This is a dangerous phrase... and a limiting belief.

Hard work can lead to money.

But there is a huge part missing……

Money stays from smart work.

When I was 19 I got engaged. As a married woman at 21, my husband-in-finance took over our money and I worked hard and took care of the family’s other needs.

This is one of my biggest regrets.

Money can quickly become the boogey-man of our life.

“I don’t want to open the closet and see what’s really going on” so we shut the door and hope for the best.

The past 7 years (since my divorce) I’ve been on a journey to:

• Know my finances
• Understand my relationship with money

And now I’m a solopreneur. I’ve earned more than $300k in the past year through 4 different revenue streams.

And I've learned a ton along the way (and made mistakes as well).

Join me on Thursday, October 24th for a FREE webinar on the Top 5 Money Mistakes I made as a Solopreneur and how to avoid them. I will also share how I’m using Found software to create my P&L, track my money and conduct quarterly tax prep faster than ever.

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♟️ YOUR TURN:

Today I’m sharing the 4 steps I’ve taken to get smarter with my money as someone who has historically been overwhelmed by this area and felt 100 steps behind…..

Step 1: Start where you are

Does everyone else feel like people are rolling in cash and you have no clue where you went wrong?

Well that social's media for you.

The highlight reel of everyone’s lives.

Rather than berating myself for not making millions in my twenties or for losing so much money in my divorce….I focus on the future.

Today I add another brick.

One day at a time.

One small step forward.

I keep building.

And every day, it gets a little easier.

​Step 2: Get Professional Help

The next step I took in getting smarter about my finances is getting help.

And yes...this was easier said than done thanks to shame and ego.

I took three meetings with different financial planners.

A financial planner will look at your money and help you create a game plan towards your short and long term goals. For me that includes buying a house + saving for retirement.

Here are the questions I asked:

• How will you help me set and meet my financial goals?
• How do you balance my short term goals with my long term goals?
• How are you compensated and incentivized?
• Do you work with other people with my net worth?
• Do you work with other people with my income diversity?
• How do you work with accountants to ensure we take full advantage of tax credits?

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Step 3: Know your numbers

At the first meeting with a financial planner they asked me “so how much money do you have?” and I honestly didn’t know the answer.

This was a wake-up call.

Old 401Ks.
A few IRAs.
Some crypto somewhere.
It was so messy.

It was time to find everything and know my net worth.
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Step 4: Money In vs. Money Out

Revenue does not equal profit.
Revenue does not equal profit.
Revenue does not equal profit.

Most people on social media talking about their $100k months aren't showing you what they spent to get there.

You have to understand what's coming in, but also, what's going out.

So I brought all my expenses over to this great app called Found and started tagging everything. This exercise showed me how much more I was spending on my business than I realized.

After uploading all my expenses into Found, I realized my profit margin was NOT where I wanted/needed it to be. I made a plan using the easy-to-use features in Found to put money away for taxes, fixed expenses and properly see my take home profit.

If you are working hard but not seeing the financial results - remember - money stays from smart work.

Start where you are....

make a plan....

and watch it grow.
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♟️ Let's Win Together.

PS - If you want to learn how to use Found - a FREE software for your business - I’ll be sharing more in the October 24th FREE webinar - the Top Money Mistakes I made as a Solopreneur and how to avoid them.

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Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.

*Found’s core features are free. Found also offers an optional paid product, Found Plus.

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