How to overcome your Money Block
Today I am going to write about one of the biggest obstacles that prevents people from following their dreams – the Moolah! This can be a major block for people especially if they have responsibilities (children, car, mortgage etc.) and cause anxiety. But as with the other obstacles (read about them in my earlier blogs), you need to take a closer look.
How much money do you Need?
With all the exercises I have been sharing with you over the last few months, you should have a good idea of what you want your life to be like by now. You can find them again on my blog. So, then the next question is how much money do you actually need? A very helpful exercise that I learned from Bob Proctor via Ewa from Abundant Results Coaching is this – How much is Enough? Calculate how much money you would need for a year to live a comfortable life. Add as much details as you can – utilities, insurances, taxes, entertainment, socialising, gym fees, clothes, groceries… It doesn’t have to be an exact number, but a good guesstimate. Then break that down to how much you need to make each month. Congratulations, you have just set yourself a goal!
By doing this exercise, I hope you have conquered a bit of the FEAR. Fear usually prevents us from seeing things clearly and can sometimes be based on very nebulous reasons. By breaking the money block into a specific amount, you have just turned the fear into an achievable goal.
How can you make Money?
Now you have your monthly financial goal, let’s see how you can achieve it. There are a 101 different ways of making money. Ideally your new career or business will satisfy your financial needs, but at the beginning you might have to supplement that with other income streams. Also the more income streams you can set up, the less you are depending on any one of them, which means you are safer in case you lose a job or your business doesn’t take off as quickly as you want it to.
To get your creativity going here are a few ways to make extra income:
- Use your skills – do you have any handy skills that you can advertise to friends, family and in the neighbourhood? Examples include: painting, sewing, doing accounts and proof reading.
- Share your knowledge and skills – can you teach something? You can apply to colleges or schools, organise your own workshops or even do it via Skype.
- Sell stuff – when is the last time you cleared out your closet or the attic? I know somebody who just sold his van in order to invest money into his business. Again, what sacrifices are you willing to make?
- Mystery Shopping or market research – some of these pay you either in money or in goods/vouchers to test products or services.
- Extra work – always wanted to know what it would be like on a film set? There are several casting agencies in Ireland looking for all ages.
- Get a part-time job that gives you a basic income, but allows you time enough to work on your business.
If you just draw a blank, gather a few friends and brainstorm together. Or book yourself in for a private 20-minute session with me where we assess your situation to see how you can overcome your money block. It’s free. You can book yourself in here or pop me an email at firstname.lastname@example.org.
If you have more brilliant money-making ideas, please share them with us in the comments below!