Instead of feeling overwhelmed by all the steps to grow your money, think about the ONE area where you need to focus your time and energy NOW.

Investing is simpler than you think!

This method works for any area in your life that you just can’t seem to find time to improve. For financial matters, take out your wealth journal; write the money area that you want to improve first.

Write out the steps that you’ll need to take in order to make those improvements. I’ll use two scenarios for illustration in this article. For example, if you want to clarify your money goals, write “Make my list of money reasons”. If your next step is to improve your knowledge about investing your money, write “Take a financial course.”

Next, write out the amount of time the first step will take. For example, it will take about 10 minutes for you to define your money reasons, which is the first step in creating financial goals. This seems easily doable on any schedule. Although I’m partial to Financial Woman courses, I want you to find the course you need, so researching and finding the right financial course could take about an hour.

Then write out the remaining steps in the implementation, along with the amount of time each step will take. For example, for researching the amount of money you’ll want to accomplish your money reasons, plan on an hour or so. You’ll probably need to plan on four or five hours over several weeks or longer to complete a typical financial course, depending on how much you want to learn.

Next, write each of the steps in your planner. This is easier when you know how much time to allot. Block off the time that you have chosen. Consider this time investment one that you are making in yourself and your financial security.

Go ahead and schedule a treat for yourself upon completion of the process, such as a facial or dinner out with girlfriends.

The beauty of this method is that it allows you to see how you can fit those super important tasks into your life, thereby creating those dynamic changes that you so desire. Caring for and growing your money fit into that “super important” category since they are required for getting what you ultimately want in life that money can provide. And we know that’s not everything, but let’s face it, it’s an awful lot!

What's the Next Step to Your Financial Goals?

Sometimes the thought of creating a savings and investment plan to reach your financial goals can seem completely overwhelming. There are five steps to Make a Rich Life at Financial Woman.

Your money is just like other areas in your life; the best way to create the outcome you want is to focus your energy on one step at a time. Victory from that one step propels you to take the next step as you see improvements in your financial health. Before you know it, you are making significant moves toward your financial goals.

Think about the next step for you to take to have the life you really want. What area do you need to focus on next to create your own financial destiny? Do you need to focus on creating more income, tracking your cash flow or learning some simple basics about how to invest your money?

When we enter solution mode, our minds fill with what seems like a million thoughts, everything from going to the bank to deposit a check to asking for a raise; then we freeze. If you haven’t already done so, join the Financial Woman Club here so you can get the Make a Rich Life video series, sent one step at a time, absolutely free.

Why did I create this video series to give away? Because I think you’ll say to yourself at some point while watching the videos, “That’s it! That is the one area where I am going to focus next to create my own financial destiny”.  And focus can create positive change in your life and in the world when you choose it.

Are you loving your money?  Give it the attention it deserves so it can grow and flourish.  Remember:  What we give our attention to grows!

Investing is simpler than you think!

Increasing Cash Flow

Step three in the Financial Woman Grow Your Money system is creating positive cash flow so you can put aside more money to grow. While I hate to state the obvious, it’s easy to lose site of the fact that there are two ways to increase cash flow: reduce your spending or increase your income. (Does one instantly sound more enticing than the other?)

Below are a few perspectives on increasing your cash flow via the increased income vs. reduced spending avenues:
Increasing your income while also reducing your spending is a double win; spend more consciously only on those things you truly value and love, AND increase your income to enjoy the journey to your financial goals!
Reduced spending is limited; increased income has huge upside potential. Just look at Liane Weintraub, founder of Tasty Brand, the fast-growing organic snack company, Nancy Traversy, CEO of Barefoot Books, an independent children’s book publisher and Heather Howell, C-TEA-O of Rooibee Red Tea.
Increasing income invites you to grow! It invites you to share more of your gifts and talents, and to increase your skills and expertise. Could this be a bad thing?
Small business ownership, when structured strategically, can increase your income AND lower what may be your largest expense, income taxes. This is another double win.
Which sounds more fun? Creatively brainstorming ways to increase your income or finding ways to cut spending. The forbidden budget word immediately comes to mind. (At Financial Woman, it’s Spending Plan!)

Take out your wealth journal now and write 25 ideas for increasing your income. Think boldly and outside of the box. You’ll become more of you, while speeding the journey to your financial goals.

If you are in a committed relationship, or considering one, complete this money reason process together since you’ll be working as a team toward the life that you want to create. Schedule quiet time to allow 10 minutes for each of you to individually write out what you really want that money can buy, preferably in your wealth journals. At the end of the time, share your goals with each other, with the rule that neither of you can interrupt nor discredit the others’ ideas. Just this simple exercise may expose things that you didn’t know about the other; things that are really important.

You may see commonalities in your vision. For example, one of you may have written of dreaming of owning a lake house for fishing, and the other may have written of wanting a mountain vacation home for family time. The two of you can work toward a common goal, such as a first or second home in the mountains on or near a lake.

After you identify and understand what you each really want in life, you’ll be much more likely to work together to create it. Once you begin estimating the financial cost of your goals, then you can refine and blend your choices, leading to a logical and obtainable option. This is a wonderful bonding exercise for a couple on so many levels, both practical and emotional. Besides being fun, it fuels the drive to create the life of your dreams. And who doesn’t want that?

Live with style AND grow your money!  Buy a good quality used car with low miles to avoid that instant 5% depreciation when you drive off the lot.  Find a reputable dealer that specializes in top quality used cars, or check Craig’s list and get it checked by your own mechanic before buying.

Investing is simpler than you think!

What happens if an investment is made that looses money? You are the one that will be hurt by the consequences in the form of less money in your retirement account, and, therefore, unfortunately, less financial security. The consequences can even be much worse; you could loose your home or lifestyle, while the person who made the bad investment decision may loose a client.

If you work with a financial planner who helps you establish and manage your savings plan, the planner is not the one who can live out the decisions on a daily basis that you make with her; you are!

Own responsibility for your money today. It may seem as though the added responsibility will create a burden, but it will lighten your load. No one cares about your money more than you do! Acceptance of this truth will instantly empower you.

The S&P, one of several indexes that broadly represent the U.S.stock market, stands for the Standard & Poor’s 500 index. This index is made up of 500 large U.S. based companies that have common stocks that are publicly traded in the stock market. The word broadly is investing lingo for generally. I like clothes, so to relate this to an example, the term wardrobe represents most of the things you wear, such as your shoes, tops, and blouses.

You may say that your wardrobe is old, or casual. You probably still have a few pieces that are new, or dressy, but, in general, you have described the state of your wardrobe. This gives us an idea about the totality of your wardrobe. In the same way, an index can be used to describe how an overall market has performed. If the stock index has risen for a given time period, we know that in general, the stock market has risen during that time, even though some stocks have gone down while others may have risen in value.

You can see how important the stock index concept is for several reasons.

First, and most importantly, indexes can easily measure the performance of an investment in almost any type of financial product or service.

Second, the longer term performance of stock indexes can be used as a way to measure against other investment opportunities, such as investing in real estate or small business.

Third, a common investment plan used by both financial advisors and individual investors is to construct a simple index portfolio that is both low cost and tax efficient, but overall consistently outperforms actively managed funds.

Indexes are one of the most common concepts when it comes to investing, and investing is about growing your money so that you can reach your financial goals. Gain a clear understanding of this very simple but important investment tool so you can be a confident and proactive leader of your money.

Enjoy my Friday money solution and enhance your financial savvy one simple step at a time.

It can be empowering to see the future value of your wealth compounded over time, and even more empowering to follow your money plan.

Investing is simpler than you think!