BernetteWhen your money isn’t where you want it to be, what do you do? If you have a budget but find that your income isn’t keeping up with expenses and that leaves little for retirement, you can either ‘hope and pray’ or ‘manifest and make’. It’s the make part that I want to get into. You can make it happen and close the money gap.
That gap is where we need to focus. How do you close it?
Close the Money Gap
You either have to decrease spending or increase income. It’s that simple. But the how? Well, that’s where you have to make something happen.
If you have a negative gap that doesn’t let you meet your normal living expenses AND save for your future, it’s time to get busy.
While this book isn’t on manifestation, my next one will be. However, if you know me, you know that I am about manifestation so when doing everything I say below, remember to use your manifestation practice as well.
Step One. Know Your Money
Track your spending and expenses and identify where you can cut. My Money Mojo Workbook has everything you need to get started with personal finance plans, including worksheets and exercises.
Start with a week or a month and create a conscious savings and spending plan from that. Now you can see where your money is coming in and where it’s going out.
Step Two. Make Choices and Cut Back Where Possible
Identify where you can cut back on spending or unnecessary expenses. We all have some frivolity in our spending and depending on your Money Mojo Type, you may be more prone to overspending than someone else.
Step Three. Figure Out What You Need
Once you’ve done an honest look, then determine how much you need to fill the gap between where you are and funding your future.
With that number, what do you do?
Step Four. Make Money
If you need to, you get to making more money. Side hustle, gig works, and using your talents and skills to earn income. Even if you are working full time, what do you do or what skills do you have that others find valuable?
Explore this and see what you might be able to do with it. Find a part-time position, subcontract your services, offer a workshop, coaching/mentoring, sell products on Etsy or TikTok? Your personality will also be a factor. Be open to creative uses of your knowledge, skills, and abilities.
But you have to make some money and make it with a purpose!
Step Five. Take Action on Your Money Goals
With extra money coming in, you need to take action that lines up with the goals you set for your financial future. What are your money goals? Pay off debt first, add to your IRA, increase your emergency fund? Maybe you just want to be able to take an annual vacation when you’re retired and want to save for that.
Whatever it is, that money has a purpose and needs you to treat it that way.
What Next?
My Manifest Money in a Month workshop happens July 10th and my book, Money Skills for Your Rich Life is on preorder with a release date of July 17. The workbook has what you need to brainstorm income ideas to help you fill the gap.
You deserve a secure and stable future for yourself. One without fear or lack and that means using the time you have right now to make that happen.
