• Vikki

What does being rich mean to you?





For some people being rich means having the newest and most expensive of everything and being able to show the world their wealth. The problem with this is as fast as your money is coming in it’s going out so if you were to loose your job or your business tomorrow would you still be able to pay for that lifestyle?


For people that have worked hard to earn their money and the lifestyle that comes with earning good money beliefs you have can hold you back from true financial freedom as you want to have nice expensive items so why not spend your hard earned money on them?


If you have grown up always having just enough or not enough then when you start earning more than you would have ever imagined growing up for some people all of a sudden money is no issue so as fast as you earn it you spend it and then the more you earn for some people keeping up with that lifestyle can take you outside of your earning bracket so you spend more than you earn on credit cards, loans, expensive mortgages and end up back with the same stresses of not having enough even though you are surrounded by nicer things.


One thing a lot of people don’t realise is you can make your money work for you so that you are earning money from your money. There are a number of ways to do this, I am not an investment expert so I am not going to give advice about that here but one thing I will say is if you can invest long term then compound interest is your new best friend! But speak to an expert and they will go through this with you.


Now back to what being rich means to you…


How do you change your mindset and money stories?


The first step is being aware of them, are you spending more than you are earning? Do you feel like you need to show the world your wealth (there is nothing wrong with feeling like this although it’s an awkward thing to admit to yourself), do you feel the need to keep up with all of the latest trends? Do you know why you feel like this? Is there a personal, business or financial reason you need to do this?


Most importantly, do you want to change this? If you do not want to change or you’re not ready for change then this won’t work. If you want to change and being rich means having money in savings, assets, investments so if you were to lose your job or business tomorrow you wouldn’t be out on the street flat broke then read on.


Once you are aware of the beliefs you have around money you can start to consciously change that.


The first thing I would recommend is start a budget/cash flow. Each month go through and monitor where you are spending your money, do you need everything you are buying, or could that money be going towards the platform you are going to use to get your money working for you?


Once you start saving and once you know you have that pot and it is building even without you working on it, it is so motivating and will get you wanting to do more but you must start the pot to get that feeling.


I’m not saying completely stop all of the nice things in your life, enjoy your money and make memories but spend consciously and never spend more than you earn so you never have debt. Credit card and loan interest is one of the biggest wastes of money you will ever spend.


Do you know what type of spender you are? Do you get caught up in the moment and buy on impulse? Do you buy things because someone you know has it and you want the newer, fancier brand/model? Or do you research before making a decision to buy something? Do you have buying strategies in place before making big purchases?


Set financial goals

it’s one thing to think about what you want but when you set it out on paper and then put an action plan against it with a timeline of what you want it becomes a realistic goal and a plan on how to get there.


Do you know how to work out your net worth?

(Add up all of your assets (everything you own, money in the bank, investments etc), and then deduct all of your liabilities (everything you owe out) that gives you your true net worth). What do you want your net worth to be and why?


What are you saving for?

This is where the motivation comes in, are you saving for your retirement? Are you saving for your dream house that you’re going to purchase outright? Are you saving to invest in property and to grow your estate that way? Or are you saving to help your children go to the best college, uni, buy their first house? Or to leave them enough that they’re set for life if anything was to happen to you?


It doesn’t matter what you’re saving for, it really helps to have a goal that you are working towards and then when you reach that goal you set another one. Always striving towards something keeps us motivated to keep going, if you hit a goal and then don’t have anywhere to go from there that’s where people can give up and can end up loosing everything they’ve worked for.


This goes in business and professionally as well, what are you working towards? Are you growing your business? Are you working towards a promotion? Or to being able to start your own business? What is your plan? Where are you on that plan? What is your end goal and have you broken that down into action steps?


If you want to explore this in more depth with an intimate group of like minded people then my A.M.O.U.R Money Mindset Boot Camp starts on 11th January. I would recommend booking now as places are limited.



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Tel: 07884 217 356

Email: vikki@amour.coach

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