The amount of money you make is directly related to the amount of value you bring to the world and your ability to package, position, and convert that value.
If you want to live the life of your dreams, you need financial certainty and abundance. Money can be a tool for funding your dream lifestyle, but for most people, money is something that holds them back.
So in this 5-Minute Friday, I’d like to share a 5-step roadmap you can use to work towards a place of financial abundance in your life. These five steps will give you what you need to start creating your rich life!
Make no mistake, this will take a lot of work — but it’s always good to have direction.
Let’s get into it!
#1: Set your target income.
So many people just want to “get rich.” They don’t have a specific goal, so they never make any progress.
Spend some serious time thinking about the lifestyle you desire, and how much money it would take for you to fund that lifestyle! Don’t sell yourself short. Think BIG. I’m giving you permission to dream here. Whatever number you pick, it should make you feel uncomfortable.
Whether it’s $100,000 a year or $1 million — set a goal and write it down.
#2: Break down the numbers.
Your yearly income goal might be intimidating. Heck, it SHOULD be intimidating — or else you aren’t aiming high enough. But when you break that yearly goal down into months and weeks and days, it becomes much more manageable. So get out a calculator. Divide your yearly goal by 12 — that’s how much you need to make per month.
If you divide your yearly goal by 52, that’s what you need each week. Divide THAT by 7 and you get your daily target.
Now if your yearly goal was $100,000 and you did all this, your daily goal is $275 — which isn’t that scary at all, is it? That’s just $35/hour if you’re working 8 hours a day, for 365 days.
When you break your big money goals down into smaller ones, you can start to visualize what you’ll need to do to create your rich life.
#3: Make a plan to reach your $$$ goal.
Take an honest look at your incomes and expenses. Ask yourself, “What changes do I need to make to hit my daily, weekly, and monthly income goals?”
You might need to cut expenses here and there. For any expense that doesn’t align with your vision for your life, feel free to say “NO” and save a bit of money.
But cutting expenses will only get you so far. If you really want to transform your income and life, you’re going to need to EARN more — by putting more value out into the world. Think about how you can create multiple streams of income. What knowledge or specialized skills do you have that you can teach? What services can you offer? What products could you create and sell? Figure out how many products or how much of your service you’ll need to sell to hit your money goals. Make a plan based on the numbers.
#4: Create systems and automate.
The more systems you have in place, the more likely you are to reach your money goals. Get accountability and coaching so that you take consistent action and stick to your plans! Find mentors who you can reach out to for guidance and support in leveling up your income. Use software to automate and optimize your finances, invoices, monthly expenses, investments, and anything else you can. These systems and tools will help you immensely!
#5: Do a monthly check-in.
A lot of people are afraid of checking in on their finances because of guilt, and they let everything slip away. You want to do the opposite. You want to be keeping a close eye on your incomes and expenses every month so that you can keep moving closer to your goals.
Go to your calendar and set a monthly check-in where you’ll look at how much you’re spending, how much you’re bringing in, and whether you’ll need to make any major changes in the following month. You can also use your monthly check-in to reflect on whether your current income streams and systems will get you to your income goals as-is, or if you’ll need to shift gears and try something different.
Friends, there’s your 5-step roadmap to financial abundance! Now that you have your plan, it’s time to execute! If you want to create the income and lifestyle of your dreams, you will need to take MASSIVE ACTION EVERY DAY like never before. You need to create momentum. There will be struggles and setbacks, but you must keep moving towards your goal. Be consistent and keep pushing yourself, and you WILL find the rich life you desire.
To learn more, join me on Episode 1,071!