19. Master the fundamentals of money
In this episode we talk all things:
How to make decisions with your future vision in mind.
Example of what our big vision is and how we use it to determine our financial decisions.
How keeping the faith will collapse time and bring your desired reality to you much quicker than you could ever imagine.
What to consider if you want your money to work for you, not work for money.
Experience from being ‘broke’ to looking into expanding our wealth tenfold within only three years with life changing mindset shifts.
What to avoid when starting out in business if you don’t have a big enough financial runway to grow.
What to do when you end up in a financial shit show to turn it around.
Our experience of losing $120k + in a few years and how we overcame those losses.
Your past self would be so proud of where you are now and how this puts.
How your past financial reality never determines your future financial reality.
You can change the narrative and be the author of your life, here is a bit about my story and turning everything around in rapid time.
What to do when there is a disconnect between your current reality and desired reality
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Welcome to the money mindset hub podcast. I'm your host Carla Townsend, and money mindset and success coach on a mission to normalize feminine wealth through empowering the minds of fierce females in business, you're in the right place if you are a female who wants to become a vibrational match to attract more wealth, freedom and abundance, but you just keep getting stuck, or there's something amiss. There's something blocking you from attracting that desired level of success and reaching your highest potential. So I'll be talking all things money mindset, energetics of money manifestation law of attraction, CEO mindset, and much, much more. Because the world needs more competent women like you with deep pockets. So let's get started.
Hello, and welcome back to another episode of the podcast. So today, we're gonna be talking all about mastering the fundamentals of money, and what it actually means. And I just wanted to touch on a couple of key points as kind of like an overview for this topic. So mastering the fundamentals, to me looks and feels like dreaming, big picture, playing with the potential realities, beginning to gain clarity on what your true desires are getting real with your current reality and gaining complete self awareness of what needs to improve, and what things need to happen in and as well as being held radically accountable to actually stop building that momentum, and building that momentum in your life as well as in your business. So a little bit of a hint, this podcast episode is an overview of module one for my new group coaching program money methodology, the link is in the bio to sign up and join me on March 16, when we kick it off. So if you love what you hear, just hit the link and yeah, sign up and have a raid, whatever you want to do. It's there links in the bio money methodology, a six week group coaching program, it is going to be fire like absolute fire and it's going to be live with me, I don't know if the consecutive ones will be live or not. I'll figure it out. So great to just get in the energy now. All right, straight into it, mastering the fundamentals of money. So I want to touch on how to actually begin to make financial decisions with your big vision in mind. So you're a woman in business, you have a big dream, you have a big vision you have you're here to create a legacy. And in order to do that we need to understand, well, then life happens, right? And you have other goals. So how do you then go and make those big decisions, those big financial decisions, but not lose your your actual vision? So first off, you need to understand what is your big vision for your life? What does it actually look like? For your business? For your for your personal life? What are the biggest what are the dreams? What are the goals, I'll give you an example of as as to be able to buy investment properties and have a portfolio. Now because this is something we are we have been working towards for years, we've made our financial decisions with that in mind. So an example of how Mick and I have done this over the years, and obviously just got better and better at it because it definitely takes practice. But in order to make the decisions that are in line with that big vision is to always first off hold that big vision in mind when you are spending when you are making big decisions. So for example, when we had our third baby we needed a bigger car right it was just really squishy trying to fit the five of us in Ohio and Tucson. If you know what I found out Tucson is you know, it doesn't really fit that much. It's like a small SUV. And yeah, trying to fit fathers in their mind you like Jada had turned for exactly one month before Mercy was born. So they're all in car seats. And obviously Merce was in a capsule. So trying to fit them in a Honda Tucson was not gonna happen. So we needed to get a big car. Now the thing is, what our big vision was at that time was like, we didn't want to just get any car, we wanted a car that again was going to fit the vision, which was going to suit the purpose that we needed it to suit for the foreseeable future, not for right now. The same lesson applies when you're trying to make decisions from your current state in business, you need to make decisions from that future self in business. So what do you What decisions do you need to make now? What would the CEO in you do right now for the future? For your goals? You always make decisions based on your future reality, not your current reality. In most instances, obviously there's always exceptions to the rules. But in this instance, we thought all right, well, we need a bigger car, but we eventually will get a new caravan which is going we need at least you know 3.1 ton towing capacity. So we have a look at all the cars that would tow that match what they were worth what they were worth brand new what they're worth, as a demo or secondhand and all that sort of stuff and we thought you know what, right now,
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we you know, we were looking at like obviously there was the pratos which is super popular here the Toyota Prado, but to buy a brand new one was around the $85,000 mark. And we just thought no for us right now, we don't want to spend that sort of money on a car. It's a depreciating asset, you know, not dissing anyone who buys new cars, it's obviously each to their own. Alright, if we spent $85,000, for instance, on this car right now, then our big vision is to actually get investment properties and build up our portfolio. So if we spend that amount of money now, how's that going to impact that big goal. And that big goal is about appreciating assets. And that big goal of investing in a property portfolio is about making our money work for us, which that is the goal. The goal is to make our money work for us not work for money. So at that point, we decided now we can go without the new car, we'll get a second hand car, we found another great car, we bought it secondhand, we got a great deal, it was top of the range, you know, not that we were looking for, that didn't really matter. But we love it. It's great. It fits our family, it toes what we needed to tow for when we do eventually get a new event. It also is, you know, half the price of what it was going to cost us to get, say a new product, for instance. So that's what we decided, because that is achievable. And, you know, we'll pay that off as quick as we can just so that it doesn't push out other goals back. I hope that makes sense. I feel like I've I don't know if I even just like explain that clearly. But you know, there's nothing wrong with getting new cars and things, if it's not going to push back what your actual big desires are in life, especially when it comes to wealth creation, like what is your big desires, for creating wealth, through your business, through your personal life through investment opportunities, whatever it might look for you everyone looks different. And for us it was, we can go without the brand new car right now. Because it means we will keep our dream of having an investment portfolio much closer. Like this year, for instance, we've already kicked off kicked off discussions. So that's super exciting. You
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know, it just happened very, very quickly. But yeah, that's that's where we're at this year, and we only bought the car a few months ago. So
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you can see how quickly it could have impacted that, you know, we might not have had been having those discussions that we're having now about buying more houses. If we put ourselves in position where we're just in more debt, it sort of falls into, like my next point about mindful spending and spending money on exactly what you really want, not falling into, you know, scarcity, sales tactics and shiny objects, syndromes, and just be aware of practicing patience as well. I think patients hold a really great place, when you are trying to get to your goals, and you want to Quantum Leap faster. So when you want to Quantum Leap, you know, right now you need to figure out whether or not there's a disconnect between where you are now and where you want to be. So in order to move from where you are now to where you want to be and get into that reality, that financial reality, that business success, that personal success, whatever it is for you, then you need to look at, where's the disconnect, and where's it happening, and for a lot of us, when it comes down to wealth, it is in the decisions that we're making in the way that we're spending the way that we're saving the way that we're investing the way that we view money, the way that we, you know, judge or judge others who do have money or don't have money, or whatever it is, there's always things that we are doing, whether we're mindful or aware of it or not, that are either going to bring us to that desired reality quicker or slower or push it further back. So, you know, example, like I did that at the start. And I know a lot of us do it at the start of our business when we have this shiny object syndrome, right. It's like the next best best method. And it's like, you know, buy this marketing program. And you know, you need this, and you need that and all that, you know, it's, I mean, if you've got an incredible financial runway, obviously, you can afford to make those, you know, trial and error. I've definitely done that. I've done so much trial and error. And, you know, even when I probably shouldn't have, but I've learned that those things didn't really serve me. And it's about being more mindful. No, it didn't put us in a position of not having money or anything like that. But yeah, that's another story. So another thing I could probably talk about this honestly, forever, because it's one of those things that either so many different ways to
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manage money, manage your finances, whether you are single or in a relationship, whatever it is, there's lots of different ways to do it. You have to find a way that suits you. But please know that it is your mindset towards your money and why you why you desire that amount of money in the first place. That will get you to where you need to be. It's not about the quick method. It's not about the get rich quick scheme. It's not not about any of those proven strategies or anything like that, yes, they do work for lots of people. But they've got the mindset that that will work for them. And so it does. This is sort of like my final point that I really wanted to go into, which can be a bit of a big butt. When you do get into tough situations, the key thing into getting out of those situations, because that's just it. Wealth Creation is not just a straightforward, straight up linear approach, right. There's peaks and troughs, and there's curveballs, and that's just life. But that builds resilience. I've definitely experienced that. I'm not sure if I've mentioned on the podcast before, but you know, in the last like, several years, you know, we've gone through our fair share of financial loss, like at least $120,000, in losses of just, you know, unfortunate events, but it's not derailed us. And the reason why hasn't is because this key thing I'll get on to, which is holding the face, that sounds really simple. And I know that sounds really simple. It's like, yeah, cool, okay, well hold the faith and like things will magically happen. No, but it's about holding the faith that regardless of the situation that you're in right now, things will always improve. No matter how tough or how stressful it might feel at the time, when you have complete certainty that it will improve, it always will. Because you open yourself up for the opportunities for IT to improve, you look for every reason why it will improve, because you know that it will improve much like you know that your business will be successful. You know, what your purpose is, and what you're here to do, and how you're here to serve in this world. So when you give your finances the exact same level of certainty, that's when things happen. And that's what when you begin to see the synchronicities that fall into place in your life is when you are open to seeing them and you're open to receiving them. You're not in the other complete opposite situation, which is looking for every reason and every excuse as to why it can't get better, why your situation is never going to improve. And while was me and I guess playing into that victim land. Yeah, like I said, it sounds really simple. It sounds really simple. I know. There was definitely a place three years ago, when we were in our worst place financially, ever, ever. And Mick and I have been together for 10 years this June. And that was the worst place we've ever been. It was the most stress. And it just, you know, it felt like when is it going to end? How is it going to get better? But the thing was, we're looking for how can we make this better? How will it get better holding the faith that it will always always get better? You know, at that point, it was when our son was born. And so three years ago when our son was born, and we just bought our big family home, right this home that we never thought we'd be able to afford, like a house like this really, after I said the house was like a 12 square house. Reflection is a beautiful tool. Reflection is just is one of the best things to do in life, other than documenting your journey, definitely document your journey in entrepreneurship in life in general, because your past version of you would be so proud of where you are now. But unless you can actually go back and look at where you look at how far you've come. It can be really easy to be like well, what haven't I done yet? But yeah, just to put that in perspective. So we just bought our bought our house, we had our son and it was so stressful, you know, and like we had no money in the bank.
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And it was it was just just the worst
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it was just that worst. That was the year that money mindset had this business was created. Because we went from being in that situation for the first time ever. to it being a distant memory only a few short months I think it was like three or four months later it was like well and truly out of that and it turned around very very quickly. And you can Quantum Leap this is the thing I know I hear this term all the time like quantum leap collapse time and it can be a bit of like buzzwords now but you really can you know from going from having like no money to within a couple of months of being a distant memory not being stressed at all not having worried I was still on maternity leave so it's not like I was actually working but it turned around so fast. And we've never been in that place again. And I just wanted to share that I think I might have shared it before but you know if you're new here there you go. There's a little bit more about my story and I hope that helped you just understand like, you can definitely change your reality and just because of your your past financial reality it never it never ever, ever dictates where your future financial Reality is going to go, you get to choose, you get to be the author of your life, you get to create a different narrative in your life. And, you know, if you're, you're not a newcomer into personal development, you probably would have heard that, right? You know, like, you really can change the narrative and you can change the trajectory of your life. If you make that choice, and you hold the faith that it will. Obviously, like I said, I'll just sort of summarize those key points in this mastering the fundamentals of money is all about understanding, first off how to make financial decisions. Always holding that vision in mind, that big vision for your life, for your business in mind all the time, that will then lead to mindful spending on the things that you truly desire, truly desire the things that truly feel good, you know, it doesn't even have to be big things like houses, or cars, or whatever it can literally even be like, the clothes that you choose to wear mindfully spending on things like that, instead of just buying clothes, because they're cheap, or they're on sale, you wait, you save up, you practice patience, and you buy that clothes that you actually want, you know, maybe it's the better quality and better cuts or just the clothes that you put on and you feel amazing in some never used to do that. I never really used to spend that much money on clothes. But now, you know, when I do go shopping, I will buy the thing that I want to buy. And it doesn't really matter what it costs. It's just, if it's nice, and I like it, and I feel good in it, I will wear it, I don't care if it's a brand name or not a brand name. It's just if I feel good at it, then that's me, you know, each have their own. The next one. Obviously, the final point was just about holding that faith regardless of how shitty life can be and how many curveballs it can throw at you. When you always hold that face, things will always improve. And hand on heart it has every single time no matter the shitty cards we've been dealt, it has always improved. Anyway, I really hope that helped. That's just kind of Yeah, I guess a bit of a summary as to what mastering the fundamentals of money means to me and obviously in money methodology, I'll go into a hell of a lot more and how you can do it and practical tangible exercises as well. Yeah, I hope you enjoyed this episode. As always, please screenshot and share it your stories and tag me so I know you're listening. leave a review if you'd like I would. I love it. I love all the reviews. I love seeing people tag laptop my life. It really does. So yeah, I'll leave you with that. And I'll catch you in the next episode. Thanks for listening to this week's episode. I hope you enjoyed it and if so, please subscribe to the podcast and join our mailing list at money mindset hub.com. Until next time, remember, everything you desire and deserve is just on the other side of your own resistance. So take that next step.