Going From Broke to Having Money? Tips for Managing Any Sum of Cash.
Hahaha! Welcome BACKKKK! 😂🥰
I absolutely loved making this video so much! It was such an honest, authentic, and real question to answer, and given my experience and expensive education in handling finances, I thought I’d share this post with you guys to share my hard-earned knowledge in How To Manage your Finances, especially if you have recently come into a large sum of cash. 💸
Today's clip is a short Q&A Submitted By One of Our Subscribers!
What tips would you give someone who recently came into a lot of money? What are you favourite tips for Handling your Finances and Saving your Money when you have it.
LOL! Stay tuned. I had a pretty expensive lesson in handling my money when I made $20,000 in One Month, so my following tips (lol, and attitude - as you’ll eventually see) will reflect that! BUT! My advice is valid.
Here are the following tips:
Don’t be Impulsive. I don’t care if you have a Million in the bank, or if you’re playing with two thousand dollars in savings. Don’t be Impulsive with your Spending. I think it’s really easy to get ahead of ourselves in “investing” and buying things we think are valuable. But, be extremely aware of your spending habits and think five times before swiping (or typing in) your debit card. (Seriously. Most of the ideas you think will make you more money, are generally not going to. Plan extensively, and really know what you’re getting yourself into before you drop any dollars on it 😭)
Focus on Your Mentality About Money. My biggest tip to anyone coming into a lot of money, or if you succeeded and acquired any financial gain, you have to do what it takes to stay aligned with this wealthy and abundant state. My gravest mistake in “Money 101” was not having the right mindset about my finances to, not only keep and grow my finances, but save and manage them effectively as well. Acquiring money is one thing, keeping your wealth is another. Release any limiting beliefs or mindsets you have about money, success, and/or wealth, and build a healthy mindset about your finances.
It’s not how much you made, but how much you spent. Ding, ding, ding. A ring-a-ling to the obvious. It is not how much your income is bringing you, but how much of your wealth you’re keeping. You can make $100,000 and spend $99,999 of it. And, as a law of FACT, you will still be broke. A valuable piece of insight that I can give you is to learn to track, observe, and manage your income/expenses effectively, and to grow a healthy, conscious relationship to your bank account.
(Off the record) Keep working on your income. I had such an authentic and unique set of experiences that taught me this lesson, and that is you have to keep making money. Even at the lowest expense rate that you can live with, if you’re not continuously growing that income, whether through your work, your business, your investments, or WHATEVER; you want to keep growing your bank account, not just watch it deplete itself because you’re spending and not making any money. Keep on hustlin’, babeeeeeey.
Those were my Four most vital, expensive, and important lessons in Managing your Finances 101.
Regardless of your current financial circumstances, you can grow your income, you can achieve wealth; and the tips I gave you today will be a simple step in getting you there.
If you have any suggestions, tips, or ideas of your own, on how you can Manage & Grow ANY Sum of Cash, please be sure to let me know!!!
Stay tuned til the end of the video for a real glimpse of Sarah Elle’s purest form of humanity. Hahaha! And, if you like the videos I post and want to watch more, please be sure to subscribe to my channels and keep an eye out for more videos like this!
All my love, butterflies!
Sarah Elle 💸