Create wealth with fabulous financial foundations

Updated: Jul 4, 2021


You really can become wealthy by making the most of what you already have.


Plugging in your income leaks by creating secure foundations with your finances will have a profound knock-on effect given time.


My financial coaching community often talks about the power of making the most of every £1 you earn and giving it a purpose. If you haven’t read James Clear’s ‘Atomic Habits’ I highly recommend this book. It brings to life how the small habits that you create will have an ATOMIC impact on your life.


Why we need to re-write our money narrative


We aren’t taught how to manage our money at school, it is something we pick up as we go along. This is why we learn first how to spend, then how to borrow and get in debt. Saving and investing is the last thing we suddenly realise we need to start.


Instead, saving up is left until we are earning ENOUGH.


Then guess what happens? Because you’ve learned to spend what you earn, you spend more money. You rent a more expensive flat, buy a nicer car, go to a nicer restaurant, and so on! So each pay rise you get leads to more spending.


Then when you need something unexpected, because you haven’t saved up or had a surplus income, you need to take out a loan or stick it on the credit card.


Ever wondered.......

What your £100 a month saving would have been worth had you invested it for the last 10 years, assuming it grew by 4% each year, annually compounded?

£14,717.62

Yet you saved just £12,000 over that 10 year period.


What instead are you spending that £100 on?


It’s hardly surprising that we have ATOMIC habits that lead us to spend and get in debt. But it is time to turn the dial and take back control, start changing your financial habits so that you can change the cycle.


Lay your fabulous financial foundations and start creating wealth


Set a monthly money date with yourself

Each month, when you get paid, sit down and do your monthly budget. Getting into the habit of doing this each month will set you in good stead for changing how you feel about your money. Make it fun, do it what you can relax, with a glass of wine. Your money should be fun and relaxing. It is the source of your wealth and financial freedom.


Order how you spend the money you earn

  1. Pay your essential bills – you must always prioritise bills like your mortgage, utilities, and other essential expenditure.

  2. Pay down your debts – choose a sensible amount to repay your debt so you can be debt-free in the future.

  3. Work out want you want to be spending on non-essential things in your lifestyle.

Pay yourself first

Once you know what your surplus income for the month is you can save it!


REPEAT every month


Have a money date each month. Learn to love your money, your financial habits are laying the foundations.


Ever wonder where the saying “take care of the pennies and the pounds take care of themselves” comes from?


Plugging your money leaks will have an atomic impact on how wealthy you become.


It starts by not wasting the money you already have and paying yourself first so you can be left with surplus income to invest.


Read my Blog “Being Rich is NOT the same as being Wealthy” to delve deeper into the meaning of being wealthy.

https://www.emmawrightcoaching.co.uk/post/being-rich-is-not-the-same-as-being-wealthy


Work on your relationship with money and work with me. Email me at hello@emmawrightcoaching.co.uk to arrange a discovery call.


Download my new Guide to Financial Freedom here: https://www.emmawrightcoaching.co.uk/free-resources


Join my free community for ambitious people in business, just like you, where I will support you to focus on your finance and find your freedom. https://www.facebook.com/groups/focusfinancefreedom


It's time to focus on your finance and find your freedom.





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