Guilt and shame. So often those are the words I hear fellow creative entrepreneurs say they feel when it comes time to talk about money. We don’t talk about money because we’re ashamed to openly discuss it with others. But why?
I think a lot of it has to do with the success we see others have and in return feel we need to reach that same level of success. We think by hitting the same as our corporate salary or making 6-figures is success. But in reality, if we simply understand what our relationship with money is and how that defines our financial freedom, then we can start talking about pricing for profit.
I don’t believe the purpose of money is to get rich and buy whatever you want and honestly, it doesn’t have to be a “selfish” topic.
The conversation of money is like self care. If you don’t take care of yourself and your finances, there will be a time and a place where you have to stop doing what you love because the money won’t be there to support it any longer.
In this podcast feature episode with the ladies over at the Creative Legacy Podcast, we dive into the topic of money and the relationship it has on us personally, in our relationships, and inside our business.
We dive into the four money mindsets (also known as money personalities) and how your specific mindset makes you feel about money to your core. Knowing what type of mindset you are, identifying your limited beliefs and understanding not everyone else has the same money mindset as you—similar to the five love languages—allows you to manage your money not only in your business, but also in your personal life.
We can learn to manage our money well by learning how to do it, but when it comes to money mindset it’s about speaking truth over yourself!
Y’all this episode is so good! We dive even deeper into the four money mindsets and even share our own personal money mindset, who the most important people are to have on your money team, the taboo around talking about money, and giving yourself permission to be okay with your financial need instead of thinking you’re “supposed” to have a certain level of success.
4:45 – personal finance for entrepreneurs
5:30 – Why it’s hard for women to talk about money
7:00 – What you need to understand about money
7:30 – The #1 thing I recommend for entrepreneurs to do in order to understand cost vs. value
9:50 – How to get confident with your pricing
10:45 – How to track your time and why it’s so important
12:25 – my social media free experiment
17:10 – How to pay yourself
18:10 – Overcoming the fear of your financial need and instead stepping into financial freedom
Related : The Truth About Income and Happiness
23:15 – Give yourself permission to find your own financial need, not one you think you’re supposed to have.
24:10 – Define success for you
29:30 – A breakdown of the four money mindsets and a tell-all of which one’s we believe we are and why
39:40 – Why it’s so hard for women to talk about money
41:10 – Dealing with imposter syndrome
Related : Does my work matter? | Overcoming Doubt
44:50 – Who you need on your money team
48:20 – The first thing I tell anyone that will dramatically improve understanding your business finances
I am so passionate about understanding your financial need. What you have to do in order to have that financial need. Understanding why you have your business in the first place. Digging into what you want your business to do for you and your family. And creating your sales goals from there!
If this episode hit home for you share with us in the comments below or even take it one step further and take our Money Mindset Quiz!
Watch – My Social Media Free Experiment
March 5, 2019