I’m excited to talk with you about Money Leaks today.
But first, I want to share that I’ve been featured on Psychology Today:
How To Ease Money Stress During Divorce. I loved collaborating with the writer on this piece and I’m always grateful for media experiences like this.
OK, Let’s Talk About Money Leaks
Since I have been teaching my financial therapy methodology for almost two decades, sometimes I have a hard time breaking things up into bite-size tools. I want to give you everything, my full methodology: Money Healing, Money Practices and Money Maps, so you have everything you need.
Hence I created a 320 page book, The Art of Money: A Life Changing Guide to Financial Happiness and why I teach my methodology in a year-long program.
But I do know how important and helpful it can be to break things down into baby steps. And, I do know that the only way to learn my full methodology is in small steps.
So, here’s a baby step for you that you can include in your self-care money practices.
The money leaks practice is a review of your expenses and then simply letting go of any extra little expenses that you are not using. It could be choosing to let go of an expense for a while in order to spend that money in another area or to free up extra resources for savings. It’s that simple and it frees up a lot of energy.
Some years, I do this money leak practice every quarter but this year I’m finding that I want to do this practice way more often for both my personal finances and my business finances.
And yes: you need to be looking at your numbers to even notice a money leak.
You can do this by going to your online banking, checking your bank statements, or reviewing your Income and Expense report (in your bookkeeping system) and seeing where there were any extra money expenses that you want to let go of at this time.
And, while these expenses are typically small amounts, they can really add up.
So, recently, I asked myself what money leaks can I let go of right now?
I had a lot of TV show subscriptions that I wasn’t using any longer. During the beginning of the pandemic, I seemed to be watching everything. But now, I wasn’t needing them any longer. So, I got rid of Showtime, HBO and Starz, which felt so good. I kept Netflix and Hulu which we are using.
I also realized it was time to finally let go of our landline which cost almost $100.00/month. I was using it for my community calls for my Art of Money program but I started using my cell phone and the reception worked great. I’m also getting ready to let go of some business tech tools that I am not using any longer. I moved to a different email system and teaching platform and my team is getting everything fully moved over so I can let go of those extra expenses, which will be so relieving.
I found this post about money leaks from December 14th, 2014 and I thought it would be fun to share with you…
I’m thinking about “money leaks” today…
We all have them so please be gentle when you find them.
Money leaks can be anything that you are spending money on
that you are not using or enjoying anymore.
It could be a gym membership.
Biz tech tools that you are no longer using
Returns that need to happen.
Or a recurring expense that you forgot to stop.
And, I’m sure there are more examples of this.
A few months ago, my husband and I
realized that he had some money leaks in his biz.
He had a couple of tech tools that he didn’t need any longer.
I think they equaled $150.00.
So he let them go.
That felt good!
Today, I am realizing…
I have some returns that I need to make.
A colorful basket that didn’t work
that I need to box up and return via the mail.
And some clothes that weren’t right from Nordstrom Rack.
I got the label ready for the box.
And, the clothes are in the trunk of my car ready to go.
Next step will be to make the returns happen!
I know this will feel good…
and clean up some money leaks that I have been feeling.
Any money leaks that you take care of right now?
Then add some love and chocolate and celebrate
You see…this is all part of my money self-care practices, which I’m continually fine-tuning.
Now it’s your turn:
Decide: What are some of your money leaks right now?
Take one or two baby steps here to let them go and see how good it feels.
If you want to learn more about self-care money practices, go here.
If you want to stay with the baby step, please do.
Remember baby steps add up to big shifts and change.
With dear wishes and my support,
P.S. The Art of Money 2021 Opens on October 8th for Early Bird Enrollment!
Though the program isn’t open for registration yet, you can review all the details about it, including the curriculum, guest teachers, and community calls on my Art of Money program page.
The biggest new thing happening with my Art of Money program for this next round is that in addition to us not raising the cost of the program we’ll also offer a new payment option: you and a friend/mother/father/brother/
That means you and a friend will be able to join at the discounted couple’s rate and you can split the expense between you.
With all that’s going on in our painful and beautiful world, it’s more important than ever to find a safe community space where you can talk through money issues. That is one of the most important parts of the Art of Money program…the community support, both from me and other members in the program.
We’ll be opening for our early-bird registration on October 8th. So, stay tuned and get ready. If you could use some extra affordable support in your money life, I can’t wait to welcome you…