Dollar Dollar Bill Y'all
I often write about the work that makes you feel most alive because I coach on topics like doing your best work and adopting a way of being that supports a viable, sustainable, thriving business.
Because if our business isn't thriving, we're not thriving. And if we're talking about a thriving businesses, we have to talk about money.
As a coach, I believe I have a responsibility to talk more openly about the financial challenges of leaving the corporate world to run my own coaching business and the many lessons I learned the hard way.
I'm definitely not a financial expert. But I wanted to share a few of my key money lessons and pass along resources for each - from actual experts - that might support you on your entrepreneurial adventure.
Spending Less Equals Freedom: I read the foundational book, Your Money or Your Life, by Vicki Robin and Joe Dominguez, over 20 years ago. In it, the authors illuminate how we exchange our working hours for stuff. I began to ask myself "how long do I have to work to buy that pair of shoes?" and more importantly, "how do I want to spend my precious working life?". It's a powerful book that will make a lasting impact on you.
You Can "Retire" Early: Mr. Money Mustache (the alter-ego of a very nice guy named Peter Ademey) will challenge everything you think about how much you need to live, where you live, and how you live. Beloved by the Financial Independence Retire Early (FIRE) community and those who aren't dreaming of early retirement per se but want to leave the corporate world to do work they love. His writings, and especially the MMM classic series on his blog, will remind you of all the options you have as you chart your future.
Set Up a Solid Foundation: Whether it's from the OG of personal finance, Suze Orman, or a more recent entrant to the space, The Budgetnista, Tiffany Aliche, there's an abundance of essential free information available.
Dream Big: I love seeing the possibilities for my clients to grow their businesses and supporting them to dream big in their work (especially if their version includes spending more time with their kids, traveling, or doing whatever else they love). Recently, I listened to Plan Your Year Like a Millionaire by Rachel Rogers and was excited by all the ideas generated. If you're dreaming big, check it out!
You Have Agency: A big part of coaching is supporting people to see that they have the capacity to change their thoughts and actions, and this is true for their thoughts and actions surrounding money as well. To support that, I recommend the documentary Get Smart With Your Money, as four financial experts (including The Budgetnista and Mr. Money Mustache) support four different people in taking steps and making changes in their financial situation over the course of a year. It covers topics including earning, saving, investing, and paying off debt. If you want to make positive changes in your financial situation, you'll be inspired by these real-world stories of change.
I'd love to hear about the financial resources you love!