money-rules

I recently purchased a jewel of a home in beautiful Santa Barbara. The house has the white kitchen I’ve always dreamed of, with ocean views and a sunny California spirit. It took me and my husband quite some time to find the home that really felt right for us, and we are so proud of the results.

Believe it or not, this home is one of my first major real estate purchases. Intentionally, I rented for far longer than the average parents might advise. And you know what? I’m glad I did—because I’ve never lived in a place I didn’t absolutely love, and now, I live in my dream house.

Between growing up and managing our businesses, we’ve all been taught plenty of lessons about how to handle money. One lesson that’s really popular is the idea that renting is like throwing money away. The rule is to buy as soon as you can.

Well, at the beginning of my career, buying a house wasn’t an option, so I rented. Then, as I started to make good money, there came a lot of pressure to buy something. Anything. The house in the non-happening area. The outdated condo. It seemed to be what all the responsible people were doing.

Before making any moves, I looked more closely at the real costs of buying, and suddenly this rule stopped making sense to me. I started to add up how much money I’d need for a down payment, what I would owe in taxes, plus the maintenance costs, renovations, not to mention what I’d spend on furnishing the house.

I realized I was not going to get a place I actually wanted to live in, and it’d be really expensive for where I was at financially. Plus, did I really want to be focusing on the house while growing my business?

The answer was no, so I decided to upgrade my lifestyle instead, and I loved every minute of it! For the next five years, I lived in luxury rentals.

As a woman who works from home, I knew my environment would be important, and it turned out to be critical in those years, allowing me to comfortably receive high-end clients and even host private
intensive days and small group retreats at my home.

I now believe it’s so important for us women entrepreneurs to make our own rules in life
As my business expanded, I was traveling more and more. By living in furnished short-term gorgeous homes, I was able to leave for months at a time and simply stop my lease. Predictably, people told me I was throwing my money away—until the recession hit, housing prices plummeted, all of those “solid investments” went upside down.

Having stayed true to my desires, I now believe it’s so important for us women entrepreneurs to make our own rules in life. I followed my intuition and went against all conventional wisdom, and it paid off. Since then I’ve come up with a few of my own money rules, here are the top 5 that I live by:

1
Don’t Worry… It’s Only Money
There’s no reason to be intimidated by money. Empower yourself to get crystal clear on what your desire is, without judging the amount. Whether it’s a new home, private school for your kids, a trip to Paris, or a yoga retreat in Bali, write it down and find out exactly what the investment is. Don’t be afraid of a “big” number. The Course in Miracles, says “There is no order of difficulty in miracles. Miracles are expressions of love.” Believe that whatever you desire is possible. It won’t happen if you can’t imagine it. See it. Feel it. Claim it. And don’t give up until you manifest that dream of yours.
2
Have the Courage to be Visible
I personally follow a “no excuses” policy, and it has served me well.  You’ll be amazed at how powerful you are if you don’t self-abandon, and instead see your dreams through until they appear.  Once you’re clear on exactly what your dreams are, then it’s usually time to stretch or take a risk of some kind—that could mean putting something on a credit card that you are committed to paying off, adding a little extra hustle to the way you do your business, or trying out a new marketing idea to become even more visible in your industry. Some new level of effort and risk is usually required to have your dream become your reality.
3
Feel Good About Spending Money

By definition entrepreneurs do not subscribe to the majority’s idea of how life should be done.  So why would we listen to their rules on how to handle money? The truth is there’s not one right way to do it.  I’ve built my businesses based on feminine principles, which means I check in with my intuition and spend money in ways that feel pleasurable to me, whether I’m hiring a mentor, a new team member, or a private yoga instructor.  It’s okay to live within your means, but being tight with your money won’t attract more money. Feel good about investing in your business as well as in your own health and happiness. Enjoy the things you love. Bring that love into your work. Save what you can, and stay focused.

4
Transform your Relationship with Money

The way I got out of debt and into an empowered relationship with money was by pulling all those crumpled bills out of the back of my desk drawer, and taking an honest look at where I was at financially. Being scared and avoiding my financial status didn’t help me get what I desired, which was getting strong and healthy in my relationship with money. If you’re not paying attention to where your money’s going, that’s where you give your power away. Knowing what needs to be paid and when gives you the opportunity to know exactly what money to make in your business. A little organization goes a long way in achieving your financial goals.

5
There’s No Lack of Money in the World

This was a big lesson for me to learn. As many of us are, I was taught that money was hard to come by, that I had to work very hard for it and save every penny. The truth is that as women entrepreneurs, we do not have a capped income earning potential. We can literally make as much money as we desire. I remember being so fearful about money that I couldn’t even get my next client. These days, I remind my clients: There are 7 billion people in the world, 3 billion with internet access, and 500 million on Facebook. How could it be impossible that 10 people out there don’t need and crave what you have to offer? There is more than enough money and clients for you.

4
Transform your Relationship with Money

The way I got out of debt and into an empowered relationship with money was by pulling all those crumpled bills out of the back of my desk drawer, and taking an honest look at where I was at financially. Being scared and avoiding my financial status didn’t help me get what I desired, which was getting strong and healthy in my relationship with money. If you’re not paying attention to where your money’s going, that’s where you give your power away. Knowing what needs to be paid and when gives you the opportunity to know exactly what money to make in your business. A little organization goes a long way in achieving your financial goals.

5
There’s No Lack of Money in the World

This was a big lesson for me to learn. As many of us are, I was taught that money was hard to come by, that I had to work very hard for it and save every penny. The truth is that as women entrepreneurs, we do not have a capped income earning potential. We can literally make as much money as we desire. I remember being so fearful about money that I couldn’t even get my next client. These days, I remind my clients: There are 7 billion people in the world, 3 billion with internet access, and 500 million on Facebook. How could it be impossible that 10 people out there don’t need and crave what you have to offer? There is more than enough money and clients for you.

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