10 Game Changers – Managing Money for Network Marketers
Want to make a huge difference in your life? Learning to live your life like a business and taking good care of the money you work so hard to earn will do just that! We all worry so much about how much money is coming in and that is important but taking care of the money coming in is just as important. Taking care of the money you make is the difference between living comfortably or living with a monkey on your back, and the latter is not a comfortable way to exist. The stress alone can create so much mental, emotional and physical damage. You could be making six figures and still be broke. If the monkey of bad habits and negative psychology continues, more money is not the best answer. I think this is the definition of the rat race!
A change in perspective and positive action IS the answer!
Think about this: What is your relationship with money? Do you view it as a friend or an enemy? Is it the good guy or the bad guy?
Raising your awareness about the negative thoughts you have concerning money is half the battle…the rest of the battle is in deciding to make positive changes and TAKING ACTION. You have read this far, so you are likely considering making those changes. Let me share with you my best tips on how.
Below are my top 10 Money Game Changers that you can implement RIGHT NOW.
1) Understand Your Mindset – What Are You Carrying Around With You?
Growing up, how did your well-intentioned family set you up in terms of your money wiring? What was the money language?
Was there always a conversation about how tight money was? Or were there periods of free-spending, followed by bouts of deprivation?
What you are carrying with you from the past may be the reason that you are making challenging money choices… like going deep into debt, not paying your bills on time, or dipping into your retirement savings. The good news is that you can change all of that negative wiring. You really can! But first you need to understand where you currently sit with your mindset.
2) Make the Decision to Change Your Financial Blueprint!
You can live free of financial stress. Yes, it takes work, but you can do it and it is so worth it!
You see, how you feel about money will dictate whether you attract wealth or repel it. Do you feel that money is not good, or that you are not deserving of it? This thought pattern will prevent you from getting more of it. Some people believe money to be the root of all evil, but remember that money is neither good nor bad, it is just a tool, a tool that creates choice, and for most of us money is used for good things. I prefer Mark Twain’s perspective that “the lack of money is the root of all evil.”
3) Alter Your Intentions For Your Business.
A good intention for your business involves more than the desire to earn more money – it’s about saving it, investing, and putting it to work for you. Your network marketing business is about creating wealth, but you want to get smart about how you use the money that you make. Ask yourself what you want the money that your network marketing business provides to do for you.
Is it more stuff that you desire? Or do you want to change the lives of future generations? The goals you set will determine the outcome!
4) Expand Your Knowledge About Finances.
You have heard the saying that knowledge is power. When it comes to finances, that is most definitely the case. My life has changed because of the books I have read and of course, the people I have met along the way.
Are you afraid that it’ll be to complicated? Or do you hope that by ignoring the problem, it will all just go away? You no doubt already realize it doesn’t go away. Most financial solutions are not all that complex, and really provide you with loads of freedom when you are empowered and fully understand the issues..
Reading books by financially savvy people has been vitally important for me in increasing my financial I.Q.
Here are a few of my favorite go-to books:
Money master the game, by Tony Robbins; God wants you to be rich, by Paul Zane Pilzer; Think and Grow Rich, by Napoleon Hill.
Pick one up this month and make it a goal to finish it. The knowledge within these pages will empower your future financial decision making.
5) Making The Money Is Only ONE Piece Of The Puzzle.
Can you increase your network marketing income if you really set your mind to it?
Are you able to devote an additional 4-5 hours per week to network marketing? If you are, then big things can happen FAST.
Review your cash in and cash out, and this will give you the insight, and knowledge that you can use to take control. You need to identify where your money is going, and where you can make small changes. Remember it’s the small, daily decisions that will empower you!
6) Create a Debt Snowball!
This is a fun way to think about your debt-freeing project. Imagine a snowball, that’s rolling down a hill and gathering momentum with each small amount paid off. Before you know it you’re at the bottom of the hill and you’ve CRUSHED your debt. I did this with an investment property mortgage recently. It is so fun to see the number go down!
Pay off the small ones first, and then strategically work your way through all of the larger debts. Imagine how free you will feel when you have NO MORE payments. It’s possible, and sooner than you think.
7) Hire an Accountant!
A good accountant will educate you about all the advantages of a home based business, and they will help you live your life like a business – strategically.
Ask your local financial institution for recommendations, and keep in mind that an investment made in an accountant is an investment made in the growth of your bottom line. In my experience, it pays off BIG TIME. Chances are good that you are not a financial expert or tax expert. Make sure you get good advice from a professional.
8) Create a Net Worth Statement.
Write down everything you own. Your assets go on one side of the page and everything you owe ( your debts) go on the other side. Then you subtract the difference. This will give you your current net worth.
Why do this exercise? It may well surprise you to see those numbers, but remember, what we track and measure can change because we are aware of it. And it’s fun to watch this change over time! I do a net worth statement twice a year and have been doing so for the past 15 years.
9) Play The Prosperity Game.
I learned this game from The Law of Attraction book I read a number of years ago. I started with $10,000.00 and each time I played, I added $10,000.00 and I would write down exactly what I would do with the money. Exactly – line by line.
Fast forward to 2 years later and I realized that I was playing with the exact amount of money in my prosperity game journal that the average top earner in network marketing was earning annually. It was one of those aha moments where I realized how powerful our mindsets are!
The way this works is that this game puts you in an abundance mindset. You will start to take action to create what your mind is imagining.You can play this game too.
Start with a journal and write down $10,000.00. Record how you will spend that money, and continue weekly or daily. You will be surprised to see how that will change your mindset and your reality.
10) Teach Your Kids the Game of Making Money.
Most of us have wiring about money that isn’t fun. How do you want your children to think and feel about money?
See if you can stop saying we can’t afford that, and instead start asking how could we afford that. This is a creative approach and will move your family forward. You can change your kids paradigm about money by changing your own first! After all, you are grooming the next generation in your family.
Let’s think long term! Let’s make a difference in our financial lives for good.
The only thing holding you back is you! Follow these 10 steps to increase your financial literacy, and start living your life to the fullest. Money is just a tool and you can do a lot of good and have a lot of fun with it. There is plenty of time left this year to step up to the financial plate and knock your debt out of the park!
Let me know in the comments which of these 10 game changers is your favorite, I’d love to discuss your progress.