Turning on Your Money Taps

One of the things I've been working on for several years is cleaning up my money issues. That includes everything from thinking I have to work really hard to make a lot of money, to taking care of old debt, to having a plan for paying down new debt, to plugging even the slightest money leak.

The truth for me is that I tend to not pay attention to my money as much as I should, so inevitably something happens where money MAKES me pay attention. It's not usually a positive experience. ;-)

I've made some big strides in this area, and along the way I discovered that once I started really paying attention to my money, it started showing up a lot more in a lot more positive ways.

Here are 4 tips that have helped me immensely to turn on the flow of money into my business and my life that I know can help you too.

TIP 1. Keep a daily tracking sheet of what comes in...

I learned this direct from my million-dollar mentor Kendall SummerHawk. I track every penny that comes in on one simple sheet each day. When I first started doing this, I had days where I didn't have any money coming in, but within just one month, it's rare if there's even one day that doesn't have some sum attached to it.

TIP 2. Have a purpose for each income stream

I've always done this without really thinking about it, but once I started getting crystal clear about the 'what' and the 'why' for each and every one of my income streams, they turned from trickles to rivers.

TIP 3. Take care of any outstanding money issues

Just yesterday I sat down with files and phone numbers in hand to cancel some memberships I wasn't utilizing, get a refund on an erroneous charge to my bank account, and asked my assistant to send reminders for two overdue invoices. In that day's mail, I received checks totally almost $3000. See, money likes being paid attention to.

TIP 4. Find and plug those money leaks

In every business, there are places where money is leaking out. It could be the webmaster who charges by the hour and takes too long to complete a task. It could be a monthly subscription that you either don't utilize at all or that you aren't clear on its return on investment to be sure it's actually a good one to make. It could be paying monthly for a service you use all year in your business, and that you could save 10% on if you chose the annual payment plan instead.

When you start to pay attention to your money, it will immediately open up the flow of it into your business and your life.

Which one of these tips are you going to start doing today? I'd love to know, so leave your commitment in the comments below.

(c) 2009 Alicia Forest

About the author:  Alicia M Forest, MBA, 6-Figure Business Breakthrough Mentor, teaches self-employed professionals how to attract more clients, create profit-making products and services, make more sales, and ultimately live the life they desire and deserve. For FREE tips on how to create wild abundance in your business, visit http://www.ClientAbundance.com

Comments

[beth]

Love this reminder!

Especially the step on taking care of outstanding money issues. I am digging out my visa right now as I remember there is a strange charge on there I have been meaning to look into. Thanks and I look forward to speaking more about ways you create ease and abundance on our call next month!

To being inspired,
Beth

http://www.inspiredhabits.com/speakerseries/

[Kimberly Reddington]

Alicia,
I already have a good handle on keeping track of my spending based on my income, but I love your idea from Kendall about keeping a daily log of what you made. I have a place where this is all tracked, but I keeping track of it daily and more regularly might help me to stay on track more with my goals.

Also, what you mention about having a purpose for each income stream is so important. This is a good reminder to me to pull out that list I made a few months back and to review it.

[Kimmoy]

Hi Alicia,

I really think it makes a huge difference to pay attention to the money coming in vs. the money that's going out. If you shift your mindset to how can I bring in more money and cut excess then you're not operating from a place of lack.

Paying attention to money is on my to-do list so thanks for this fabulous post!

[Roxana, the AvidDiva]

Hi Alicia,
After listening to your tips for today, I started wondering how many memberships I have running that I don't pay attention to. For the next week, I am going to make a list of all my expenses in this area, check out if there is any return on investment and then I am going to eliminate those that are not working for me. I am also going to make a list to make sure that I am at least current in all my debt. I am making those lists tonite in order to start making any arrangements tomorrow. Thanks for the tips.

[Intuitive John Shoemaker]

Alicia-Timely article...

I went to Ecker's Millionaire Mind last weekend in Atlanta...and so much of the "money stuff" started coming up.

I saw your article as I sat down tonight to plug some of those holes...and this article helped keep me on track in spite of all the resistance...

Many thanks!

John Shoemaker

[Juliet Oberding]

Alicia,

Thanks for this article. As my archetype is Alchemist- taking care of money drains is one of my main issues right now. I canceled a couple of memberships that I wasn't using in the last week. I loved the idea of really setting a purpose for each stream of income. Great info!

Best,

[Nina East]

Hi Alicia,
I started the tracking form this month after learning about it from Kendall, too. I didn't start it until about halfway through October, and, like over-achievers everywhere, I decided to set my goal much higher than my average monthly income.

As of yesterday, I exceeded that goal! Most of that came in the second half of the month - after I started using the form.

I think using the tracking form really helped me pay close attention to the money patterns, and make a game of having a certain amount for every day. Silly, but effective. :)

Nina!
http://PersonalGrowthPrincess.com

[Sandy Rees]

Thanks for the great article Alicia! It's very relevant for me. I think I'll work on #1 and write down income every day. I bet it will be very eye-opening.

Sandy Rees

[Saskia Fraser]

Hi Alicia,

Thanks for your tips. I just cancelled a subscription that I realised I hadn't used for a month. I'm going to look at those services that I pay for monthly that I could be saving money on by paying yearly instead. I'm saving money already!

Saskia x

[Candace Davies]

Hi Alicia:

Great article, I do implement some of your suggestions, but I am going to pay more attention to number 4... I think there is always money that we spend with out thinking... so if we pay attention to it, we could save in areas we never thought of.

Keep up the great work.

Candace Davies
http://www.resumes-for-teachers.com