Who do you rely on to advise you about your finances? Whether you are taking the steps to completely engage with your finances for the first time, or you know it’s time to take your wealth creation to the next level – what if today, you became the CFO of your life? Let’s dive into how to manage your own wealth creation. 

STEP ONE – Set the foundation for financial awareness and wealth creation

  • Know exactly how much revenue and expenditure you are currently generating. What do your finances look like right now? You must have clarity about your current financial situation so that you know what your next financial targets need to be.
  • Know exactly how much money you need to run your life/business as you would truly like it to be. What would you like your finances to be? Write down all the costs of running your life and your business as you would like. Include the essentials and all the fun things – dinners out etc. Add what you would like to have in the next one to five years – holidays, courses, new purchases and investments.
  • What can you add and create? Rather than focus on cutting spending (although you may see some ways where your expenditure is better placed elsewhere), put your attention on asking, “What are the options for getting me there?” and “What can I add or invest in that will create money now and in the future?”
  • Create a “10%” account for you.  For every dollar that comes in, put 10 cents away. This is not a “rainy day” fund. It ensures you always have money in your life and future which creates a sense of peace around money. It’s about fostering a different relationship with money that is about continual growth.

 

STEP TWO – Educate yourself on different kinds of wealth and investments

Most people think there’s a formula for creating wealth: A + B = C. But this will only limit you in terms of what you can generate for yourself. Out-creation is about throwing out the blueprints and rulebooks; it’s about seeing how all the facets of your life can contribute to you. 

As your own CFO, ask: What are all the things I would like to add to my life, not just the money? How can I create a portfolio of income to support that? These questions will help you plan the bigger question of how to manage your own wealth creation.

Wealth includes everything in your life, bringing you money – and more. For example, most people don’t consider their jewellery as part of their wealth or investments.

The first time I invested a lot of money in myself this way, I bought a unique set of pearls. When I put them on, my whole body lit up. 

Wealth creation is not about sticking to the tried and true, or accepted standards of financial generation. Educate yourself about different forms of wealth and investments and, most importantly, follow what is interesting and fun for you.

 

STEP THREE – Add things you enjoy to your life.

Take the focus off your bank account. When you enjoy your job, you don’t think about the paycheck you’re getting. Instead, it becomes about enjoyment, joy, and enthusiasm. Out-creation is about adding more richness to your life, no matter the balance in your bank account.

When you focus on the bigger picture – enjoyment, being of service, helping the planet – you become more aware of possibilities and opportunities for the creation of wealth in a more multi-faceted way.

There is a wonderful saying that I live by:

Money follows joy, not the other way around.

Money is a by-product of what you choose that cultivates a greater sense of wealth and richness in your life.

Wealth can be the kindness you bring in your smile or the gratitude you choose each day. The more gratitude you have, your generosity of spirit grows. You have more generative fuel in your tank – where you can celebrate your success and growth. As well as the success and growth of others.

What are you grateful for about you and your life right now? Flex your muscle of gratitude every day.

The creation of your own personal wealth includes money, but it truly is never just about the money.

STEP FOUR – Practice “Benevolent Capitalism” when considering how to manage your own wealth creation

When thinking about how to manage your own wealth creation, remember it’s about generating something sustainable – for you, others and the planet. True wealth comes from asking, “What can I create that will make money for me, and grow, and benefit the wider world?” It is about we, not me.

Last year I ran over 85 events and classes all over the world and my business contributed to many other businesses. In that time, I hired over 60 translators, and my business supported many others in a multitude of ways. It was providing work, experience and tools to create more in their business and lives!

You don’t have to be a business owner or running a global business to practice benevolent capitalism, you only require developing a mindset of looking at how you can invest in creating a greater future for you and others. It is as simple as asking yourself: What contribution can I be to the creation of wealth and a greater future for myself, others and the planet?

True creation occurs when you are willing to erase all the definitions and projections and pre-conceived ideas held by you or anyone else. If you meet someone interesting but they don’t fit your definition of what your business or investment needs, let that definition go. Adapt, evolve, ask questions and you will always remain engaged and aware of greater possibilities for the expansion of wealth.

 

Laleh Alemzadeh-HancockAbout the author

Laleh Alemzadeh-Hancock is a life and communication coach, management and professional services consultant, and facilitator of Wealth Creators Anonymous, a special program by Access Consciousness®.

Laleh has inspired and empowered hundreds of thousands of individuals and families including Fortune 500 executives, government agencies, non-profit organizations, athletes and veterans. A lifelong entrepreneur and passionate change-agent, Laleh strives to seek out possibility in every problem and aims to facilitate strategic change and optimal growth for all her clients. She is an advocate for people of ages with special needs or disabilities and their caregivers and served on the Governor of Maryland’s Caregivers Support Coordinating Council for four years. Through her organization, Global Wellness for All, Laleh inspires individuals – including individuals with perceived disabilities – to create wellness in all areas of their life and seek greater success. 


Nobody likes to be ruled by money. But by the same token, we don’t want to be without money either. Let’s face it, having money helps. It allows for financial freedom, stability and the power to live life well. But “money” seems to be a dirty word, especially when you ask female professionals what they want from their careers. Women often shy away from discussing money, often attributing money to greed and superficiality. Why does the concept of “money” hold such a weird connotation, and what can women do to realise that making money won’t lead you on the road to a Kardashian-eque lifestyle, and that it’s the way you make it and manage it that matters the most?

Barbara Turley is an investor and Wealth Strategist, and now runs Energise Wealth, a wealth strategy and coaching business for female entrepreneurs. She believes that women need to stop being uncomfortable with the idea of wealth creation. “The way money is ‘done’ feels in conflict with women’s natural instinctual values of nurture, care, community and contribution”, she says. “The money world is about competition, striving and winning. For women the idea that you lose because I win doesn’t feel good”.

Barbara has created the Get Savvy Academy, a program that guides participants through the actions, behaviours and mindset required to get on the path to ‘true wealth’ – the point at which your money is working for you and not the other way around. The Get Savvy Academy, Turley says, also bridges the gap for women entrepreneurs who want to use money as a powerful tool at their disposal to create a beautiful life and realise their deepest personal visions.

“The money world is about competition, striving and winning.  For women the idea that you lose because I win doesn’t feel good”

Below, Barbara shares her thoughts on wealth creation, the Miss Money concept and the idea that money is indeed not a dirty word, but a concept that be managed.

The Healthy Way to Look at Money

Barbara says, “Money is the last taboo in our society. It is loaded with meaning and assumptions about our level of success and worth in this world. It divides the haves and have-nots and makes us feel guilty and ashamed about it, but also thankful when we are lucky enough to be in the haves camp.

Money affects every part of our lives and can bring up painful memories of parental fights, embarrassing experiences of lack and even anger at how it seems to have so much control over us.
But the reality is that money is just an idea or a concept to make the exchange of value easier and more efficient – that’s it!

It’s how money is used and abused that makes us feel queasy. It is not money itself that makes us queasy but the actions of those who appear to have a lot of it.

“Money … is loaded with meaning and assumptions about our level of success and worth in this world. It divides the haves and have-nots and makes us feel guilty and ashamed about it, but also thankful when we are lucky enough to be in the haves camp”

If we want to see money reflect different values then we need to infuse it with the values we want to see. This is our responsibility as people, not money’s !

The “Miss Money” concept

“The ‘Inner Miss Money’ concept is a way to give a personality to this inner part of us that lives deep in our subconscious mind. It’s important to get to know this part of yourself who so often is the one pulling the strings in your life …. unbeknown to you!

We all hold beliefs that are preprogrammed into us from very early on in life. These beliefs govern how we see ourselves. They govern how we feel about money, and how much people ‘like us’ can make, should make or deserve to make.

“It is not money itself that makes us queasy but the actions of those who appear to have a lot of it.”

It’s why some people feel unlucky or feel like they can never get ahead. Their internal programming is usually affecting their ability to make the right decisions, attract the right people or opportunities and to know how to capitalize on those opportunities.

Money vs. Wealth

“We often don’t truly grasp what “wealth” really means . We confuse money and wealth, and use these words interchangeably a lot, but they are very different things. Wealth is created when the resources of time, energy and money are put to productive use to create something that benefits us in an ongoing way.

This can be in the form of financial assets, when our money works for us (and not the other way around), or it can also be in the form of good health, education, positive relationships, positive parenting, living our purpose and the like so that we are creating a better life, a better world and a sense of happiness. This kind of true wealth can pay big dividends for generations and is worth ‘investing’ in.

“Money is just an idea or a concept to make the exchange of value easier and more efficient – that’s it!”

Make your Money Matter!

We deal with money every day, and without it, I think we would all agree that life would be pretty bleak! However, most people forget that they won’t always be able to work for money, and in fact should get money working for them as quickly as possible, so that when that time comes, they have money fully supporting their lives.

Women have a few extra challenges, which means we need to think more strategically, and make sure we are not shying away from these important truths:

  • On average, women live longer than men, so women will need their money to go further for longer, and they will likely face big financial decisions alone at some stage (i.e. when faced with divorce).
  • Many women take time out to have children, usually during the years when their incomes are just starting to go up. The longer term implications of this are that women typically have less money at retirement time.

Taking all of this into account, you can see why there is a global debate raging right now about the ‘feminisation of poverty’.

“Wealth is created when the resources of time, energy and money are put to productive use to create something that benefits us in an ongoing way.”

The Masculine Paradigms of Business

The concepts of money, business and investing have always been very masculine paradigms. Women have only entered into these areas in any real way in the past couple of generations. Naturally then, these worlds have evolved out of a more masculine way of being and doing, where things like focus, targets, analytics and results are more dominant. There is nothing wrong with a ‘masculine’ way of doing things, as long as it’s not at the expense of things like global impact and social contribution. Otherwise the balance gets tipped.

During the Global Financial Crisis, we saw the carnage that occurs from this imbalance. In the years preceding the crisis, everything became about the next result, increasing the targets, pushing for more without considering the social implications. Get more people into mortgages regardless of whether they actually have the capacity to pay. It doesn’t matter as long as “I” reach “my” target.

Wealth creation is not about driving things so hard that you forget to lift your head up and see the cliff edge in time to avoid disaster. It is about creating value that makes the world a better and more productive place.

“Wealth creation … is about creating value that makes the world a better and more productive place”

Don’t be Uncomfortable with Money

Although the world of money might seem like a zero sum game it does not have to be that way. Because it has evolved out of the masculine, it naturally feels this, way but moneyis nothing but an idea to make the exchange of value easier and more efficient.

It is up to us how it is ‘done’ and as women we have a tremendous opportunity to change how it is ‘done’ and infuse it with different values.

Barbara Turley is running a webinar to help with your wealth management, as well as the Get Savvy Academy. The Get Savvy Academy starts on September 29th, 2014 and will run for 6 weeks.  Sign up via www.getsavvyacademy.com and enjoy the FREE video training. 

Featured photo credit: Kris Krug via Compfight cc