Wealth Creation Tips: 6 Types of Toxic Money Behaviors that are Holding You Back
Dec 01, 2021Money doesn’t grow on trees. It doesn’t grow on bushes or fall from the sky either. Money is either earned or gifted and it is important to know what to do with it when it comes in. With the right tools and knowledge, money can even make money and that is why I am sharing my wealth creation tips—to grow your income and set you up for financial success.
When used sensibly, money can be a great resource for yourself and your community. And, truthfully, everyone can use more of it. It can be a tremendous luxury but also an enormous burden, and it is unavoidable. It is up to you how you see it and manage it. Our whole society revolves around money and as a female entrepreneur, you need to know the best money moves for yourself and your business.
Here are 6 ways you are getting in the way of your own wealth building.
Wealth Creation Tip #1: Borrow Money Strategically
Credit cards and loans can be very appealing—you just need a little extra cash to see you through the end of the month and you’ll be able to pay it back with your next paycheck. No big deal. I can hear you trying to justify it now. The truth is once you start, you’ll never catch up. Once you use that credit card or take out a loan, you owe someone that money and it isn’t free. Interest charges add up and you’ll find yourself swimming in a sea of bad debt.
Have you been in a situation where your bank account is running low on funds, and you could really use a cushion?
It has happened to all of us at some point—it’s best to recognize it and analyze your spending habits.
Some businesses exist solely to lure you into thinking you need their help with that cushion, and unfortunately, they are successful. This is the reason I hate these brick-and-mortar stores that promise fast cash. Whether they are promising your paycheck early or asking you to put down some sort of collateral to get money, it is bad news.
If it seems like something you should avoid. It is. Trust your intuition. Stay away from borrowing money at all costs, especially for impulse buying, non-essentials, or non-investments in your future. It isn’t worth it. If you do not have the cash to pay for something, you cannot afford it. Plain and simple. Stop trying to justify it in your head; it is not good for you.
Now, a credit card can be a useful tool when used wisely. I want to repeat that so that it is clear—a credit card is okay when used wisely with a solid plan to pay it off in a timely manner (i.e.: before you incur a late fee).
Bad debt is a bad decision.
Wealth Creation Tip #2: Create a Savings Account
If the past 18 months have taught us anything—it’s that our economic stability can turn on a dime. My wealth creation tip #2 is to have a safety net. Create a savings account and when you receive income, always pay yourself first. Save a comfortable amount that can carry you for 3-6 months.
Wealth Creation Tip #3: Educate Yourself
We can carry a lot of money trauma around based on how we were raised—but those stories no longer belong to you—it is time to take responsibility for your financial health square. Stop bypassing the responsibility. It is yours now—the good, the bad, and the ugly.
Educate yourself on best money practices; reading this post is a great first step. If you don’t know something, look it up! Learning about money is one of the most empowering things you can do. Don't rely on someone else to manage it for you
Wealth Creation Tip #4: Pay Bills on Time
This sounds like an easy decision but you would be surprised by how many people don’t pay their bills on time for whatever reason and incur late fees or interest charges (wealth creation tip #1).
I suggest utilizing the automatic/recurring payments feature that many companies offer; however, you need to know what you are paying for. It can be easy to turn that feature on and forget about them. Make it a habit to routinely review your bill.
Please, avoid the late fees at all costs. Just when you begin to get some traction, even one late fee can set you back big time.
Wealth Creation Tip #5: Be Responsible with your Money
Your money is your responsibility. It won’t work for itself (unless you tell it to by way of investments). You are accountable for what it does and where it goes.
Be in control of that. Know the ins and outs of your own investments, allotments, and recurring bills. There may be a lot you have to manage, and it can seem overwhelming, but I assure you, it’s manageable and not dealing with it will guarantee it becomes overwhelming.
Refusing to take action is not an option when building wealth.
If you are struggling with something, acknowledge it. Come to terms with your money blocks and set it right or find help.
Wealth Creation Tip #6: Healthy Money Habits
When you invest your money, you are giving it a job to do. Each dollar bill should be allocated for something—savings, bills, investments, rent, food, etc. When you leave money in your bank account un-assigned, you run the risk of using it for frivolous activities and end up short before the end of the month. And so, the vicious cycle begins.
Healthy money habits like the ones I have shared will help you build your wealth and financial success in business and in life.
If you would like to continue learning more about building your wealth, download my FREE guide: The 7 Biggest Mistakes that Keep Female Entrepreneurs from Generating Massive Income. It tells you exactly what you need to do in order to make lots of money. Download that here.
Save for Later - Pin This Post
Over the years, rituals have become the backbone of my existence—seamlessly integrating into my writing, coaching, and the way I build connections within the spiritual entrepreneurial community. They are the silent whispers in the early dawn that guide my thoughts from chaos to clarity, transforming the blank pages before me into canvases of inspiration and insight. It's through these sacred routines that the essence of my work finds its true expression, enabling me to channel my passion into profit with authenticity and grace.
As we edge closer to the luminous April full moon, I'm thrilled to extend a heartfelt invitation to an event that holds a special place in my journey, both personally and professionally. The upcoming FES Power Circle, titled "The Power of Rituals: Transforming Routines into Success Strategies," is more than just a gathering; it's a beacon for female entrepreneurs and healers seeking to infuse their daily grind with deeper meaning, energy, and intentionality.
This Power Circle is an embodiment of everything I stand for. It's about peeling back the layers of our daily routines to reveal the potent rituals lying dormant, waiting to be awakened and harnessed. Together, we'll dive deep into the art of turning the mundane into the magical, ensuring that every step taken is aligned with our core values and business objectives. It's about creating a symphony between our personal growth and professional achievements, striking a chord that resonates with success, fulfillment, and well-being.
Imagine starting your day not just with a to-do list, but with a ritual that invigorates your soul, primes your creative pump, and sets the tone for a day filled with purpose and productivity. That's the transformation we're talking about—where rituals become the vehicle for not only achieving our business goals but elevating our life's work to realms of unprecedented joy and impact.
During our 90 minutes together, we'll explore practical exercises and guided discussions designed to unearth the psychological and practical benefits of rituals. You'll learn how these intentional practices can enhance your decision-making, creativity, and stress management—key elements for thriving in today's dynamic business landscape.
As someone who has walked the path from spiritual seeker to #1 best-selling, award-winning author and international coach, I can attest to the power of integrating rituals into every facet of life and business. They are what ground us, propel us forward, and ultimately, shape us into the luminous beings capable of manifesting our deepest desires and highest aspirations.
So, I invite you to join me in this transformative journey. Let's redefine the essence of our daily practices together, turning them into pathways of success that not only enrich our lives but also the world around us. RSVP by April 23rd to secure your spot in this gathering of souls ready to embrace the power of rituals.
Remember, in the realm of spiritual entrepreneurship, it's not just about the strategies we employ but the soul we infuse into every action. Let's make this Power Circle a turning point, a moment where we collectively decide to elevate our routines into rituals that not only serve our business but our spirit as well.
Looking forward to weaving these powerful rituals together with you,
Karen
If you are viewing this message after the event has passed, we invite you to explore our Upcoming Female Entrepreneurs Power Circles.
This newfound realization led me to a significant decision. Despite my initial reluctance, I enrolled in a business program, one that promised not only to refine my entrepreneurial skills but also to venture into an area I had never imagined for myself: writing. The program included a week-long writing retreat in Hawaii—a prospect I found enticing, even if only for the scenic inspiration, since I didn't initially identify as a writer.
Arriving in Hawaii, I made a pact with myself to remain open to the process, to welcome whatever revelations came my way, and to trust in the journey. Through extensive journaling and deep introspection, guided by the program's preparatory exercises, a vision began to crystallize. It was during these moments of clarity and introspection that the title of my book emerged: "When Lions Roar." The concept, the essence, and even the pivotal scenes of the book unveiled themselves to me in a powerful and undeniable surge of inspiration.
The writing process became a floodgate of revelations; it was a journey not just of creating a narrative, but of self-discovery and profound healing. "When Lions Roar" transformed from a mere concept into a heartfelt mission, a story that was not only mine but also belonged to the collective voice of women seeking healing and empowerment.
The time spent post-retreat was one of diligent commitment—filling in the narrative gaps, refining the message, and undertaking the monumental task of self-publishing. This book, born from a journey of personal healing and the desire to echo the souls of women everywhere, became the most significant accomplishment of my life.
Despite launching "When Lions Roar" during the unpredictable times of COVID-19, where what should have been a celebratory launch felt overshadowed by global uncertainty, the impact was undeniably profound. The feedback from women who found solace and strength in its pages confirmed my deepest hopes. Their responses were not just affirmations of the book's message, but beacons of light guiding my continued journey.
The accolades that followed—16 literary awards, including eight first-place honors—were affirmations of the book's resonance and impact. As I prepare to accept the first-place award for Women's Empowerment at the International Impact Awards, I am reminded that this journey is as much about the shared narratives of all women as it is about my own.
In this reflection, I extend an invitation to every woman who harbors a dream, to see themselves as creative beings capable of monumental achievements. "When Lions Roar" is not just my story; it is a testament to the power of faith, the strength of the human spirit, and the boundless potential within each of us. Embrace your journey, trust in your heart's wisdom, and never relinquish your dreams.
As we embark on this journey together, I invite you to join me in this month's Power Circle,
"Bestseller Blueprint: Unveiling the 4 Steps to Literary Success"
It's more than a workshop; it's a sacred space where we'll explore how to blend divine inspiration with deep understanding, crafting offers that not only resonate on a soul level but also meet the heartfelt needs of those we are called to serve. Together, we'll navigate the beautiful intersection of creativity and strategy, guided by spirit and grounded in the practical magic of making a real difference. If you're ready to transform the way you connect, create, and contribute through your spiritual business, this Power Circle is for you. Let's co-create offerings that are not only impactful but deeply aligned with your highest calling and the highest good of all those you touch. Join us, and let the journey unfold.
There was a time when the very idea of designing offers felt like navigating a labyrinth without a map. The challenge wasn't in the lack of inspiration or creative flow; it was in trusting what came through that vast, unbounded space of possibility. Trusting in what spirit delivered required a leap of faith that felt as daunting as stepping off a cliff, not knowing if the ground would rise to meet me.
Overcoming this fear wasn't an overnight transformation. It involved a deep, soulful dialogue with my own essence and the essence of those I yearned to serve. The realization that changed everything for me was understanding the profound importance of allowing myself to be guided by spirit. This wasn't about relinquishing control; it was about acknowledging that the truest, most impactful offerings come from a place of divine inspiration, where every idea is a thread in the larger tapestry of our soul's mission.
Yet, this divine guidance needed to be grounded in an understanding of who I was speaking to. For so long, I resisted this. I crafted packages that were masterpieces of creativity but lacked the strategic thought of what someone would actually walk away with. They were offerings born of spirit but not fully anchored in the earthly needs and desires of my ideal clients.
The turning point came when I realized that to truly serve, I had to know my audience like the back of my hand. This wasn't just about demographics or superficial preferences; it was about understanding their deepest fears, their highest hopes, and the unspoken yearnings of their hearts. It was about seeing the divine spark within them and recognizing the journey they were on.
This understanding didn't diminish the role of creativity; rather, it deepened it. By knowing who I was talking to, my offerings became not just expressions of my soul but bridges to theirs. They became invitations to journey together, guided by spirit but grounded in a profound understanding of their needs and how I could meet them.
The journey from pure creativity to strategic, soulful offerings was a profound one. It taught me that the most powerful offerings are those that are co-created with spirit, designed with a deep understanding of the hearts they're meant to touch. It's a dance of light and matter, spirit and form, and it's this dance that we're all called to participate in as spiritual entrepreneurs.
So, to anyone standing at the crossroads of creativity and strategy, I say this: Trust in the guidance of spirit. Know deeply those you're called to serve. And let your offerings be the sacred ground where your soul's mission meets their deepest needs. This is not just the path to impact; it's the path to true fulfillment and divine service.
As we embark on this journey together, I invite you to join me in this month's Power Circle, "Irresistible Impact: Designing Offers That Sell." It's more than a workshop; it's a sacred space where we'll explore how to blend divine inspiration with deep understanding, crafting offers that not only resonate on a soul level but also meet the heartfelt needs of those we are called to serve. Together, we'll navigate the beautiful intersection of creativity and strategy, guided by spirit and grounded in the practical magic of making a real difference. If you're ready to transform the way you connect, create, and contribute through your spiritual business, this Power Circle is for you. Let's co-create offerings that are not only impactful but deeply aligned with your highest calling and the highest good of all those you touch. Join us, and let the journey unfold.
What is happiness and how do we find it? This is probably one of the greatest existential questions of humankind—along with what we are meant to do with our lives. It’s certainly a question I get asked a lot and I am thrilled to share the 4 key factors that allow me to be happy and content in my everyday life.
Forewarning: happiness doesn’t happen overnight and depending on the state of your current habits, will take some genuine effort. Needless to say it is worth it, sweet Sister!
How to Be Happy and Content | Decrease Social Media Consumption
The first lesson on how to be happy and content is to decrease your social media consumption. There is only one person in this world that I know who has never opened any sort of social media account. How did they stay so strong after all these years—I don’t know—but the fact is the vast majority of the population use social media. And of that majority, the majority of people over-use it.
Social media has its benefits, don’t get me wrong. It can bring people together, both personally and professionally, and provides a great business marketing avenue. So, the answer isn’t as simple as deleting your account. Rather, be aware of the amount of control it has over you.
Monitor Yourself
How often do you check your Facebook? If you have the app on your phone, chances are you are checking in multiple times a day. It’s probably one of the first things you do when you wake up and last thing you do when you go to bed. I’m willing to bet you check it when you make a trip to the bathroom or are sitting in a waiting room. Am I right?
It might seem like you are just passing the time but this addictive behavior isn't healthy. It can take a toll on your mood, sleep, and perception of yourself.
Some simple things to help you reduce your exposure:
- Keep your phone out of sight
- Set boundaries and expectations for yourself—allow time to truly unplug
- Block negative people
- Delete the apps off your phone so you aren’t tempted by every “down” moment you have
Find More Happiness | Let Your Creativity Blossom
Now that you have some new found freedom from the mindless scrolling on social media, what will you do?
Allow yourself to be creative. It is one of the best things you can do for yourself. We are all creative beings, so don’t think you can bypass this step because you’ve never thought of yourself that way before.
You may need to try out a few artforms before you find the one. However, you absolutely have something to contribute to the world creatively.
My Creative Journey
To be honest, I never used to consider myself a creative person. Before I wrote my book, I had only written for my business and I didn’t enjoy it! It was hard and I put an immense amount of pressure on myself to say something profound every time I put pen to paper.
It wasn’t until I went through my own journey of healing that I began to see myself as a creative being. In 2017, I was approached to contribute a couple of chapters to a self-help book for mothers. That was an eye-opening experience—it caused me to look at myself in a different light.
That opportunity really shaped my beginning as a writer and eventually turned me into an author.
When Lions Roar
When I was going through the process of writing my own book, I promised myself I would be open to what came and trust that whatever my experience was, it was meant to be. I did a lot of journaling and asked a lot of questions.
When I finished it, I had this deep feeling that I had to publish it. It was the voice of my soul and I knew it needed to be heard. Being open and recognizing that fact was very scary. When I started, I was fully prepared to keep my book just for me, and call it a learning experience. So, to share with others was a giant leap of faith.
Writing When Lions Roar was a tremendous healing process for me, and I knew it would help heal other women as well.
Find More Happiness | Travel & Try New Things
Another way to find inner happiness is to experience something new! Expand your horizons, travel and immerse yourself in all its glory. Open the floodgates to ideas and innovation.
Get out of your regular consumption of what you eat, see, hear, and experience. These types of fresh and exciting adventures help you grow as an individual and certainly contribute to making you happier!
Exposing yourself to new experiences is an investment in yourself.
How to Be Happy and Content | Replace Worry with Wonder
Worrying is a waste of time and mental energy. It solves nothing, messes with your mind and steals your happiness. But simply stopping isn’t as easy as it sounds, is it? You actually need to rewire your brain to respond in a different way.
So, pay attention to your thoughts and when you recognize yourself entering the worry zone (big or small), try one of the following instead:
- Learn a new skill
- Exercise
- Meditate
- Read
- Wonder—when you pose your worry in the form of a question, your subconscious will come up with a creative solution. Try it!
Worry Journal
You can also choose to write your worry down in a journal. This might sound counterintuitive because by writing it down, you are giving more power to it; however, I find that it’s quite the opposite.
When I write something down, I no longer feel like I need to keep it stored in my memory. It is safely written down for a later time. The key to this exercise is not to reread your past entries and when you have filled a notebook, get rid of it! You won’t believe the relief you get from that!
When Lions Roar
I wrote this book with the thought that every woman has an inner lioness—a magnificent force full of strength, passion and beauty, waiting to be called upon.
It is a fictional story of empowerment, based on real life emotions.
It covers deep universal issues that women continue to navigate—including the ability to trust one's voice, deep friendships, finding empowerment in your struggle, and connection to your internal power.
It also portrays the unconditional love between a mother and a daughter. It speaks to women who seek to live stronger, more beautifully aligned love-filled lives. I would love for you to read it!
It is available on Amazon. Click here to purchase your copy!
