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Tag Archives: christy lambert

Why do you want to be rich?

Why do you want to be rich?

If you want more money, it’s one of the single most important questions you can ask.

Why.

Why do you want more money?

It requires you to get really honest with yourself.

To examine your values.  To determine what’s important.

To understand why you care about money in the first place.

The second most important question to ask is: what does being rich mean to you?

How do you define rich?  What does rich look like?

The answers to these questions will be different for everyone.

And answering them will provide two distinct benefits:

1.  You’ll start consciously thinking about your money.

2. You’ll  supercharge your goals.

Check out the video for a quick tip to figure out the real reason you want money.  It’s a great way to get past the surface reasons to discover the real reasons why.

 

In the comments below, share your why.  What’s the #1 reason you want to be rich?

Email your money questions to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!


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November Account Review

Each month I do a full account review of my finances.

I review every dollar I made and every dollar I spent.

Everything goes in a category.  Each category gets totaled.

Sounds kind of boring, right?

Except it isn’t.

It’s mind-blowingly fascinating.

Astounding.

Even though I plan in advance with my budget, balance my checkbook daily and generally keep good tabs on things, there’s almost always one line item that shocks me.

What I think I’m doing with my money and what I’m actually doing with it are often very different.

And it’s awesome.

I get to discover on paper how my money is working for me and how it’s working against me.

I get to learn about myself and my money on deep and rich level.

Most importantly, I get to decide if I want to keep engaging in the same behaviors or change them.

To make it even more fun, I’m going to share what I discover with you.

I’m going to tell you what surprised me and I’m going to show you how I change my thoughts around my spending to create a different result. This is where I get really, real with you.  You’re going to see how a money coach coaches herself around money.

Fun, right?

November Account Review:

Top 3 Spends

  • Mortgage
  • Food
  • Cell Phones

Biggest Surprise

Food: $1400 – Almost equally divided between eating in and eating out.

Thoughts: 

The single greatest thing I’ve discovered this month is that my thoughts about not wanting to cook are preventing me from coming up with a plan around meals.

Not only do I end up spending more on expensive, last minute food items, I actually get less enjoyment from the whole process of eating.

When it comes to making dinner, I’m often scattered, hungry and annoyed.  Not a pretty picture.

If I want to maximize my joy from food and my money, I’ve got to think about the whole thing differently.

Things to consider:

How much value am I getting from this spend?

Not as much as I could be.  I haven’t necessarily been making high quality foods or having remarkable dining out experiences.  For $1400 I expect more than what I’ve been giving myself.

Could I have the same satisfaction/enjoyment around food and spend less money?  Why/Why not?  

Absolutely.  I throw out a lot of food and am generally disorganized when I go to the store. I end up buying food that I don’t enjoy that much because it’s easy/fast. If I planned in advance for the week I could have foods I enjoyed more and spend less money.

What do I think is stopping me from planning/organizing?

I don’t really like to cook so I don’t put much planning into it.  It’s funny because not planning actually makes me dislike the entire process.  It’s time to eat and I realize I don’t know what to make.  I end up going for what’s fast and easy vs. what I enjoy.

The biggest motivator for me is that I want to enjoy my food and my money.

I’m playing around with the thought: planning my meals in advance helps me enjoy my food and my money.

It’s totally true and it helps me get excited about a plan for the week.  I know I’ll end up eating better and having more money.

Goal: Reduce food expenses to $1000 a month.

Put your comments in the comments section below. Specifically answer these two questions:

  1. Are there any categories where you’re spending more than you realized?
  2. What tips do you have for maximizing your food budget?
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Overcoming Money Conflicts

Relationships can be tricky. Add money to the equation and things can get even stickier.

You want to pay off debt and your partner wants to buy a motorcycle.

Or maybe you want to buy a new pair of jeans and your partner wants to go golfing, again.

It’s no surprise that money is one of the top causes of conflict in relationships.

So what can you do about?

First, understand you’re not really arguing about the motorcycle or the debt. Those items are symbolic of something deeper. For both of you.

The motorcycle might represent freedom.  The paid off debt security.  You’re really arguing for the values you think the items represent.

We all have experiences, stories and goals with money that motivate our current values and actions.

If you start the money conversation focused on the line items in the budget, you’re missing the big picture and setting yourself up for lasting conflict.

The trick is to take the conversation deeper.

Take some time to discover what’s driving your partners behaviors around money. And while you’re at it, dig into what’s driving yours.

I’ve created a three question worksheet you can download to get the conversations started.

Download Here: Conversation Starter

This is just a start.

Our money stories go deep. The more you understand about your story and your partners story the more equipped you will be to resolve conflict for the long term.

Leave your comments and insights below. 

Email me your questions on money to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!

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Can you afford it?

You really want to buy something, sign up for a class, go on a trip, and the numbers don’t support it.

It’s a drag to think you really want something and then tell yourself you can’t afford it.

So stop lying to yourself.

When you make up your mind that you want something, there’s almost always a way to get it. You could sell everything you own, you could work two additional jobs, you could cash out your 401k.

But you’re not.

There’s a reason you’re choosing not to afford it.

The only reason you ever want to buy something is because you think buying it will make you feel a certain way.

  • You think participating in a class will make you feel confident or connected.
  • You think a new pair of shoes will make you feel sexy.
  • You think going to Greece will make you feel relaxed and free.

And it might.  But you don’t have to buy those things to get those feelings.

The same is true when you choose not to afford something.

The only reason you ever choose not to buy something is because you think having something else will make you feel better.

  • You think paying off your bills will make you feel responsible.
  • You think having money in your savings account will make you feel secure.
  • You think not working a second job will make you feel free.

And it might.  But it’s possible to buy the item you want and still get those feelings.

The only way to really know if you can afford something is to know what you value and why.

What do you value most: the item or what you’ll get by not buying it?

If something is important to you, stop telling yourself you can’t have it.  Instead, brainstorm creative ways you could choose to afford it. Check in and see if you’re willing to do those things and understand why/why not?

Affordability isn’t just about dollars and cents.  It’s about value. And you always get to choose what you value.

Leave your comments and insights below. 

Email me your questions on money to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!

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Money Monday – Sell or Hold?

Have you ever been in the midst of making a financial decision and felt stuck.

You arrive on a decision only to second guess yourself just a few minutes later.  You run the numbers over and over and still don’t feel 100% confident in the decision?

I know I have.  Sometimes what looks great on paper, the story the numbers seem to tell, feels different when you go to pull the trigger.

What might be happening is an ownership bias. 



When you own something, you like it more, just because you own it.  Seriously.

This can make it especially tricky when it comes time to make a decision around selling something.  Maybe you’re committed to paying off debt and selling the boat seems like a good way to go.  Or maybe you’re getting ready to buy a bigger house and trying to decide to sell or hold onto the smaller one.  

Because you own the item, your mind will likely value the item more than the markets or the financials do.

So how do you get around this?

First – be honest with yourself.  Do you actually own the item? If you have a loan against the item, it’s not yours, it’s the banks. Being honest about that can help reduce the ownership bias.  

Then ask yourself these questions:

1. Given your current goals and finances, would you go out and buy the item again today?  If not, what’s really holding you back from selling it?

2. What do you think it means if you sell the item?

3. What do you think it means if you don’t sell the item?

These questions will help you get some perspective on what you are trying to gain, besides money, by holding or selling.  They will help you see where you’re looking at the numbers and where your ownership bias is showing up.

I’d love to hear your experiences with ownership bias and how you moved past it.

Leave your comments and insights below. 

Email me your questions on money to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!


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Money Monday – Unexpected Bills

You’re chugging along, making progress toward your financial goals and then seemingly out of nowhere you’re hit with a big fat bill that isn’t in the budget.

Or maybe it’s just a series of small bills that seem to come out of the woodwork just when you feel like you’re starting to make real progress.

Unexpected things do happen.

When unexpected things happen regularly they can no longer be considered unexpected.

If you’re consistently running short at the end of the month, or writing a check that’s just not in the budget it’s important to take the time to figure out what’s really going on with your money.

In my own life, I noticed I had a tendency to significantly underestimate my monthly expenses.

I’d decide once and for all I was going to be responsible and quickly pay off my debt. The faster the better. So I’d sit down and create a budget that I thought would propel me quickly toward my financial goals. It looked great on paper.

I’d make a huge payment on my student loan debt and then I’d freak out that I had no money left when it was time to buy groceries and pay my monthly bills.

I was so disconnected from my money and spending that I had no idea what it actually cost me to live every month.


When I finally took the time to look at what was happening with my money it was easy to see why it felt like things were always sneaking up on me.

I’d been drastically underestimating my expenditures.

Once I knew what I was spending, It was much easier for me to make choices about where I was willing to make sacrifices and where I wasn’t. I was able to create a debt payoff plan and cut down on the unexpected by leaving room for all of my monthly expenditures.

Leave your comments and insights below. 

Email me your questions on money to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!

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Money Monday – Improve your Money Relationship

Improve your Relationship with Money – Today

We all have a relationship with money.  For most of us, this relationship is less than ideal.  Let’s face it, relationships with money can be tricky.  So what can you do about it?

You know how they say honesty and communication is the key to a successful relationship?

It’s true with money too. The single greatest thing you can do to start improving your relationship with money is to start telling the truth and seeing what’s happening with your money.

The only way to be 100% honest when it comes to money is to look at the data.  What are the REAL results you’re getting with your money?

This can be a scary process.  It often brings up feelings of not being good enough and not having enough.  It can bring up fear of how to manage it and overwhelm that it’s all to much.

We often think telling little lies or not seeing the numbers will FEEL better than telling the truth.  It won’t. The truth always feels better. It gives you your power!

To avoid feelings of stress and overwhelm every time you sit down to look at the numbers, it’s important to remember this is just about the numbers. It isn’t about you being responsible or irresponsible.  Good or bad.  It’s just about you seeing the facts.

To get you started, I’m including a worksheet designed to help  you put all your numbers in one place.

Remember, no judgment.  Numbers are neutral.  Once you know where you are, you can better design a route to get where you want to go.

Where’s the Money Worksheet.

Where’s the Money

Leave your comments and insights below. 

Email me your questions on money to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!

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Money Monday: Understanding Your Relationship

Understanding Your Relationship with Money

If you were going to describe your current relationship with money in one word, what would it be?

Not sure?  The key to understanding your relationship is identifying what’s happening every time you interact with money.

Are you happy when you spend money?  Stressed?  Worried?  Unsure?

What about when you make money?  Or win it?  Or find it?  Are you excited?  Frustrated?  Annoyed?

If you try and look at the relationship by lumping all your interactions together, you won’t get any clear insight.  Let’s face it, different transactions with money FEEL different, independent of the dollar amount. The only way to get clarity is to take the time to analyze how you are feeling EACH time you interact with money.

Looking at the daily relationship is the only way to really understand why you’re spending what you’re spending,  earning what you’re earning and getting your current results.

Challenge yourself to record each of your money transactions for the next 7 days.  Record the transaction, the dollar amount, how you felt during the transaction and your overall thoughts about the transaction.

What do you notice?  Are there any trends?  Where are you feeling crappy with your money?  This single exercise will give you more insight into your money relationship than anything else you can do.

Give it a try and report back with what you find. In the meantime, I’d love to hear the one word you would use to describe your current relationship with money.

Leave your comments and insights below. 

Email me your questions on money to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!

 

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Money Monday: How to Ask, Part 2

How to Ask for Money, Part 2

Part 1 of this series was all about getting clear on WHY you were uncomfortable, your value and expectation.  Doing the work around those issues will make asking for money much easier.

That being said, I get it.  It’s still nice to know WHAT to say and HOW to say it.

Asking for Money in 4 simple steps:

1. Summarize your value (not sure what your value is, go back to part 1).

2. Check in.  See what the other person is thinking.  If they agree with your value proposition or express interest in your offering, move forward.

3. Make the ask!  Keep it simple & clear.  Stick to the facts.

4. Stop!  Wait & listen.  Silence is golden. Let the other person tell you what they are thinking before you assume to know.

 

Leave your comments and insights below. 

Email me any questions you have on money to christy.lambert@areyouthriving.com

If you like this,  share it on facebook or twitter!

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