
Feeling Out of Control with Your Finances? Here’s How to Get Back on Track
Sep 17, 2024
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If you’re a small business owner, chances are you’ve felt that pit in your stomach when you’re not sure if your business is financially stable. Maybe you’re working long hours, but at the end of the month, you still can’t pinpoint where all the money has gone. Whether you're managing personal finances or juggling both personal and business finances as a small business owner, it can feel like a constant struggle to stay on top of things—especially if it seems like you’re always one step away from a financial mess. Feeling out of control with your finances can be lonely, and I want to help you get past this feeling.
Here’s the thing: letting financial instability linger can take a toll on your peace of mind and the future of your business. Without clear systems in place, you could pay more in taxes or face tax penalties, miss opportunities for business growth, and have more sleepless nights wondering if your hard work is paying off.
I get it—you’re working hard, but somehow, it feels like you’re still not where you want to be financially. Maybe you’ve tried different approaches, but nothing seems to stick. You’re not alone. Many people feel overwhelmed with managing their money, and rightfully so, considering many of us were never properly taught how to manage our money. “Spend less than you make” doesn’t really cut it, ya know?
The good news? You don’t have to keep feeling out of control. The fact is, your behaviors and habits impact your financial situation more than your financial knowledge.
One of the first things I help my clients with is shifting their mindset and habits around money—learning to become more intentional with their financial decisions. Once you’re able to shift how you think about money, you can start making lasting changes that fit your lifestyle and goals. Here are a few examples to help you get started. Remember, they may not all apply to you. Just pick one that resonates with you and focus on it. It’s about progress!
Here are some practical ways to help stop feeling out of control with your finances.:
Adopt a ‘savings is a monthly bill’ mindset: Instead of saving what's left after spending, make savings contributions when you get paid. This change in focus will help you to build your financial security.
Practice mindful spending: Before making a purchase, pause and ask yourself, “Does this align with my goals and values?” or “Do I need this before I get my next paycheck?” Building this habit can help reduce impulsive spending and buyer’s remorse.
Create a habit of reviewing your finances weekly: Set aside 15 minutes once a week to check in on your financial situation. This simple habit can help you feel more in control and prevent surprises.
And if you have a small business:
Start thinking like a business owner, not an employee: Shift your mindset from paycheck-to-paycheck thinking to long-term planning. This means focusing on cash flow, not just profit, and making strategic decisions for the future of your business.
Create the habit of separating personal and business decisions: Treat your business like its own entity, even if finances are tight. By consistently making this distinction, you’ll start building healthier financial habits for both your personal and business life.
Adopt a proactive approach to financial planning: Instead of reacting to financial challenges, make a habit of planning for future expenses—whether it's taxes, a vacation, or business investments. This shift can reduce stress and give you more control.
If you’re ready to feel in control of your finances—whether personal or business—and gain the peace of mind you deserve, this is exactly the kind of thing I help people with. I’d love to help you, too. You’re working hard, and you’ve got the drive—now let’s make sure your finances support your vision for the future.
I’d love to learn more about what you’re experiencing and share some insights or first steps you could take. Feel free to email me at jessica@moneycoachjessica.com or click below to schedule a time to chat.
Remember, taking control of your finances is a marathon, not a sprint. Stay committed to making small, positive changes, and over time, you'll see significant progress. Your hard work and dedication will pave the way for a more secure and fulfilling financial future. Whatever you do, just do something!