Who doesn’t want more money? For business owners, it’s safe to say that we wouldn’t mind a little extra in the bank. But how do you go about attracting the abundance you desire?
Here are five money habits you should drop if you want to attract wealth and scale your income.
How Do You Attract Abundance?
The key to attracting abundance, wealth, money, whatever you prefer to call it, is to cultivate an abundant money mindset. That means trusting that money - having it, wanting it, and going after it - is a good thing. The more positive your money mindset, the more easily you’ll attract abundance.
While it might sound kind of woo, this concept is actually grounded in science. The more confident you are you can achieve something, the more likely you are to actually achieve it. That goes for attracting money, too!
5 Bad Money Habits to Stop If You Want to Attract Abundance
Want to attract more abundance in your life and business? Here are five money habits you should drop.
1. Ignoring your finances.
I know it’s tempting to go a few days without checking your bank account, especially when you’re worried about what you’ll find. But the better you understand your money, the easier it is to attract more of it. It might feel better to live in blissful ignorance, but it can hurt you in the long run.
Check your bank accounts every day. You don’t have to do a deep dive, but make sure you always know how much money you have in each account. That way, you can rest easy knowing your balance. Plus, when you keep money top-of-mind, you’re more likely to attract opportunities to make more of it.
2. Doing free work.
Believe it or not, a lot of entrepreneurs end up doing free work: in the form of scope creep with clients, unbilled research hours, and coffee chats' where they end up coaching prospective business owners. All this time adds up, and it tells your subconscious (and your clients) that you’re willing to work for free. (Spoiler alert: You shouldn’t be!)
Get protective with your time! Make sure you’re billing for all client work, and raise your prices to reflect your current skill level. And the next time an old high school classmate asks to “pick your brain” over coffee, charge a consulting fee.
3. Not spending according to your values.
Have you ever bought something on a whim and ended up regretting it just a few days later? (I know I have!) That usually happens when you buy something as a quick fix instead of spending according to your values. Sure, it feels good in the moment, but it’s not fulfilling in the long run.
Before you make a purchase, really sit with it. Consider what that purchase might add to your life, be that joy, fulfillment, comfort, or ease. Just make sure you’re spending in accordance with your values, not anyone else’s.
4. Saving too much.
I’m a huge advocate for saving, but I also recognize the danger of saving too much. It’s true what they say about money: “You can’t take it with you when you die.” If you focus solely on saving at the expense of new experiences, daily pleasures, and personal fulfillment, you’ll end up with a ton of money in the bank and no happiness to show for it.
Just like you should spend in accordance with your values, you should also save for the things that matter most to you. If you’re comfortable with three to six months worth of expenses in your emergency savings, don’t feel pressured to scrimp and save way more than that. And if you’d rather rent forever and travel often instead of saving for a house someday, go for it! What matters most is that you’re saving for what you value.
5. Neglecting the practice of gratitude.
As your business grows, it can be easy to feel neutral (or even resentful) of small sales and bank deposits. But gratitude inspires abundance, and neglecting your gratitude practice tells the universe and your conscience you don’t desire or deserve more money. (Woo, but true!)
Be grateful for every pretty penny that comes your way. If you make a micro sale, celebrate it! If you sign a new client for your lowest-ticket offer, be just as grateful for them as you are for every other client. The more you practice gratitude, the more easily you’ll attract abundance.
Want to feel calm, cool, and confident when managing your money?
Start with The Ultimate Accounting Checklist, your guide for managing and maintaining your business finances with ease.
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