The Money Myth Buster Podcast

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Want to know what the #1 way to reach your financial goals is? Bookkeeping. And when you DIY your bookkeeping it can be the difference between meeting those goals and failing to meet them

5 mistakes I see entrepreneurs make when you DIY your bookkeeping 1. They clump all their income together – 2. They don’t categorize their expenses (for tips on categories read the blog here – https://www.mybulletproofbudget.com/15-best-business-budget-categories/ 3. They don’t reconcile their transactions every month 4. They aren’t tracking where their business is coming from 5. They aren’t using ANY of the data to forecast future decisions

BONUS: They don’t see the connection between their business finances and their personal finances

Want to know how to work with me as your bookkeeper – get my services guide here – https://bit.ly/3aPiJZV

Want to hear more episodes? https://moneymythbusterpodcast.com

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5 things to get right in your business finances: 1. Separate accounts – you need to have separate accounts for your business finances if you want to make things easier. Read more about that here – https://www.mybulletproofbudget.com/mixing-personal-business-finances/ 2. Pricing strategy – pricing is about more than picking a number you think people will pay for… learn more about it in the Psychology of Pricing masterclass – shoot me a DM on Instagram to learn more https://instagram.com/simplicitybookkeepingco/ 3. Business budget – having a rough idea of what’s coming in is not the goal – you need a written plan people! Get a free template for that by downloading the CEO’s Guide to Digital Freedom below. 4. Accounting software/receipt capture – Xero – why I love it – it’s easier and less expensive that QBO. Receipt capture – Hubdoc – integrates with Xero 5. Tracking and strategy – tracking your numbers is fine but if you aren’t applying the knowledge in your business finances it’s pretty pointless… Without strategy, you may as well leave it a hot mess.

If this has you thinking “Holy crap this is too much, too complicated. I freaking hate numbers!” I am currently accepting bookkeeping clients to do all this for you inquire at https://www.honeybook.com/widget/my_bulletproof_budget_bookkeeping_194382/cf_id/61318cdfaa71c00682d4594a

Don’t miss previous episodes at https://moneymythbusterpodcast.com

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Last week if you missed the podcast about lack mindset go check it out at https://moneymythbusterpodcast.com/lack-mindset/ because it set the stage of us to really dive into the positive beliefs about money we are going to talk about today!

A Note About Positive Beliefs About Money

First, a quick note, as always I do not tell you what to believe. No one should be telling you what to believe. Please listen to this episode with an open heart and mind. Consider this list of positive beliefs about money as potential suggestions for you to consider. Take what you like, mull over what sounds interesting and toss what feels off. While I will challenge you to dig deeper into WHY it feels off (because that could be something worth exploring) ultimately it is always up to you. Always.

What to do after you listen

After you listen to the beliefs, take some time, contemplate. Write them down, listen again and let them marinate. Money mindset is not a one and done scenario. It is ever changing. Should you wish to explore it more on a deeper level make sure you check out the Attracting Abundance Membership – enroll below

https://sales.mybulletproofbudget.com/money-mindset-membership/

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You’ve very likely heard of lack mindset before. If you are in the personal development space at all, it’s come up, right? But what exactly IS lack mindset, how do you shift out of it and into a money mindset of abundance? That is what I’m breaking down in this episode today.

5 ways to shift out of lack mindset

Recognize what lack mindset even is – It is anything that makes us think that resources are scarce and that there might not be enough. It can affect our pricing, our ability to sell, pay ourselves in our business and much more
Write your own definition of abundance – that’s right, you need to define this for YOURSELF, no one else should be giving you beliefs around this – not even me.
Write out your beliefs about money – brain dump them all. Good, bad, ugly.
Find examples that disprove the beliefs you want to let go of – the first way to really unlock your subconscious mind is introducing information you would normally reject
Seek positive examples that prove your definition of abundance – as your mind shifts away from the beliefs you used to hold, give it somewhere to go. Give it reinforced positive money mindset beliefs that resonate with your definition of abundance.

Learn more about getting out of lack mindset https://www.mybulletproofbudget.com/are-you-attracting-abundance/

https://www.mybulletproofbudget.com/budgeting-limiting-money-beliefs/

https://www.mybulletproofbudget.com/how-to-manifest-money/

Don’t forget to check out other episodes of the Money Mythbuster podcast at https://moneymythbusterpodcast.com

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Being an entrepreneur is really different than working a 9-5 and it’s no different when it comes to managing your finances. Wanting to stick to your budget is fine, but it’s even more tricky when your income is variable because ALL the guidance out there is for people pulling in regular paychecks. In fact, we have become so conditioned to believe that we need regular inflows of money to create “stability” that we try to recreate these circumstances in our business in the offers we create and the way to run our business. But it’s a lie.

Three reasons your find it hard to stick to your budget as an entrepreneur 1. Unexpected expenses 2. Inconsistent cash flow 3. Too many things they need

How to stick to your budget by proactively addressing these three things These are the outlines of the solutions I use myself and that I teach my one-on-one clients. While these solutions may not work in every scenario they are based repeatedly positive outcomes that I have personally seen in my own life and the lives of my clients.

When unexpected expenses make it hard to stick to your budget

Solution: Make your life “emergency free” by creating contingency funds for everything!

Write down a list of everything in your business that would prevent you from working or continuing business if it broke or went wrong
Price check a dollar amount for what it would take to fix this should it occur
Create separately named sections of your savings account for each item (easy to do if you have Novo for your business banking – check out the episode on that if you missed it – https://moneymythbusterpodcast.com/podcast/business-banking-novo/)
Start setting aside savings towards each of these items now – even if it’s small it will help to know that the money is there if you need it

For when inconsistent cash flow makes it hard to stick to your budget

Solution: Stop focusing on inflow and focus on consistent outflow instead

Go back and listen to episode 6 – https://moneymythbusterpodcast.com/podcast/financial-stability/
Understand that the reason you income feels inconsistent is that you are spending it inconsistently
Creating a budget that levels your outflow means that when you have high cash months you don’t overspend but project your income out to cover the future months where there may be the inevitable “dip”
Set up your consistent business budget here – Business Budget
Set up your consistent personal budget (and heal your relationship with money) here – https://www.mybulletproofbudget.com/bulletproof-for-life-program/

When too many expenses makes it

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Without Sacrificing Anything Bills, no one likes to pay their bills, right? I know I’m supposed to be the budgeting guru but guess what? I don’t even like paying my bills! So this week’s episode is all about how to save money on your bills!

The truth is that looking for ways to save money on what you’re currently spending is one of the most overlooked ways to ADD more available money into your budget.

Easy Ways To Save Money On Your Bills:

Eliminate – is there anything at all that you are paying for but not really using? Or are you paying for more than you need? More phone lines? More audiobook downloads? Anything you can shave off that you aren’t already using is a quick win that doesn’t even impact your lifestyle because you aren’t even using it to begin with! Go over your bank statements for the last few months (or longer if you’re feeling ambitious) to really get all those automatic withdrawals you forgot about.
Insurance – Another great way to save money on your bills is to shop for insurance quotes for your car, home, even life insurance. At least once a year before your policies renew shop around to make sure you’re paying the best rate for the coverage you want. Again, no sacrificing quality just paying less for the same.
Data levels – Are you still paying for unlimited data? Back in the day it used to be a big deal because the overage fees were insane. No with almost everywhere having free WIFI the need for unlimited data has gone down considerably…but I bet you haven’t changed your plan. Check your past few months to see how much you are currently using on average and then see if there is a plan that would accommodate that usage for a better price. Again, no downgrading your lifestyle, just the price point. My family plan has 5 phone lines and we share 3GB a month because two lines are for elderly relatives who can’t even use the the smartphone features and the others of us are almost always around WIFI. If we go over there are no penalties, just slower service until our data reups. Worth it.
Consider Annual Billing – If you haven’t considered switching to annual billing as a way to save money on your bills, you really should. Once more, no sacrifice to the things you are using or want simply taking advantage of the perks of paying in full for a year at a discount. I go into detail into how to set this up without feeling a terrible money pinch each year in the podcast.
Extend frequency – Are there things you pay for regularly but are not a bill – like haircuts, nails, massages, etc.? Consider extending the frequency in-between these services slightly. If you usually get a haircut every 6 weeks, try 7 or then maybe 8 weeks in between. If you barely notice a difference in how you look and feel, keep the longer time in-between. A $40 haircut every 6 weeks for one year costs about $346. A $40 haircut every 8 weeks for one year costs about $260. That’s a $86 savings a year! May not seem like much but when you are looking to save money on your bills, everything adds up and if you are saving money without sacrificing your lifestyle it’s always a win!
Remove shopping apps/credit card info – Now if you really want to save money on your bills this is the big kahuna (at least it was for me). Shopping late night from bed is rea

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Have you ever felt really off track, like you are really behind in your finances? Like maybe you had a good idea of where you’d be at this point in your life and it just doesn’t look like you thought it would? You are not alone.

But you are not behind in your finances You want to know why?

Chances are whatever targets you have in your mind were:

Put there by others – maybe well-meaning friends or family, maybe strangers or even financial “gurus”
Not really something tied to your core emotional desires for your life
Based on arbitrary numbers that you heard were important at some point

And they have likely caused more pressure and shame than anything else.

How to stop feeling like you are behind in your finances 1. Set emotional outcomes 2. Select core financial actions that can help you reach those emotional outcomes 3. Start small – this is how you change how you see yourself so you can change your habits! 4. Track your progress over time towards your emotional outcomes

Listen in to hear the detailed process of how to apply this to your life and stop feeling behind in your finances

Heal your relationship with money and confidently craft your own financial plan so you can effortlessly achieve your financial goals while enjoying the crap out of your life – sign up for Bulletproof for Life here – https://sales.mybulletproofbudget.com/bulletproof-for-life/

You can also read more about emotional outcome and goal setting:

How to Set Actually Achievable Financial Goals: 6 New Tips

How to Set The Right Financial Goals: 3 Easy Steps

Catch more Money Myth Buster Podcast Episodes at https://moneymythbusterpodcast.com

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I am going to be completely transparent, I used to think that manifesting money was a load of crap. Turns out I was wrong. In this episode I break down for you the step-by-step practice that I used and how I manifested over $15k in one month – with no day job, no launch in my business and no “logical” reason to have that much money come in.

How I manifested over $15k 1. Created a daily practice 2. Made a monthly manifestation list 3. Included gratitude 4. Took strategic action daily

How I manifested over $15k – read more You can read more about manifesting money at https://www.mybulletproofbudget.com/how-to-manifest-money/

Or listen to other podcast episodes at https://moneymythbusterpodcast.com

Make sure you also checkout the Attracting Abundance Membership at https://sales.mybulletproofbudget.com/money-mindset-membership/

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I can’t wait for you to hear this week’s episode all about how you can save money on business banking with Novo! Full disclosure – I have an account at Novo myself and I freaking love it so much that I became an affiliate (because – heck, an income stream for sharing something I love where it doesn’t cost you extra but will actually SAVE you money??? Yes please!)

6 reasons business banking with Novo will save you money 1. Online only – so the fee structure of a typical brick and mortar bank? out the window. 2. No fees! Like for real no fees, it’s ridiculously awesome and that’s not even the best part! Their rewards program is legit amazing. You can actually get reimbursed for Stripe fees up to a certain amount – and it’s a LOT. So you save a bundle on processing fees plus a ton on other services you use! 3. Business debit card – you get a debit Mastercard for purchases – I personally use mine most to set up my bills on autopay because you know that I HATE manually paying bills 4. Important integrations – Seamlessly connects with Xero (my fave), Quickbooks, Stripe, Shopify, Zapier and even Slack! 5. Customizable dashboard – you can actually see your Stripe data IN the Novo app so it’s a one-stop shop PLUS you can invoice directly from your bank account – say what? 6. Reserve accounts – this last feature is the coolest. If you are a Profit First follower then you can actually use the reserve feature in Novo to set up subcategories in your main account instead setting up multiple accounts so all the money is separated just like in Profit First BUT you don’t have to track actual different accounts. Mic drop!

Business Banking with Novo Get started today it’s so freaking easy to set up it’s ridiculous. Here’s the link https://banknovo.grsm.io/9sazykoes67v

Looking for help with your business finances? Head to here to fill out an inquiry form for bookkeeping and done for you business services.

Want to hear more Money Myth Buster Episodes? Head to the homepage https://moneymythbusterpodcast.com

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Be honest, you’ve googled the “perfect budget” before am I right? You’ve searched for the one budget that will make all the saving, spending, bills, apps and tracking easy and effortless. In today’s episode I’m breaking down the myth that there is a perfect budget BUT I’m also giving you a sneak peak at 8 ways you can tell whether a budget will work for you or not.

8 ways to know you’ve found your perfect budget 1. It’s easy to learn 2. It’s easy to maintain 3. It has the balance of financial strategies you’re looking for 4. Helps you achieve the goals you have for your life 5. It’s holistic – including mindset, strategy and behaviors 6. It provides active support so you aren’t left with just info to fend for yourself 7. It adapts as life changes and it’s flexible 8. It’s custom to YOU and doesn’t try to fit your finances into someone else’s rules for your life

Does your “perfect budget” do all of those things? If you are looking for a budget that supports you in all these ways the Bulletproof for Life Program is enrolling now. Sign up today at https://www.mybulletproofbudget.com/bulletproof-for-life-program/

Want more episodes to listen to? Check them out at https://moneymythbusterpodcast.com

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Were you ever told that money doesn’t come from hard work growing up? Yeah me neither. I bet if you were like me you heard this a lot growing up, “You have to work hard to make money” or “Money doesn’t grow on trees. You have to earn it”. I know I sure grew up with it. I’m sure we all heard some versions of that. The belief being that laziness was the opposite of hard work and that laziness was bad and hard work was somehow good or made a person more “worthy” of earning money….

Money doesn’t come from hard work though

But how come we’ve all worked so many jobs where we poured our blood, sweat and tears into it and got paid next to nothing? How come we frequently feel underpaid and underappreciated for the work we do?

Seems to me that this myth of hard work is just that. A myth and in fact money doesn’t come from hard work at all. Money is simply an exchange for perceived value. I use the word perceived on purpose (I’m a word nerd, sue me). Whether something is truly valuable or not is all about perception and need. So the price someone is willing to pay for something is always relative.

The problem with this belief is that it is stated as an absolute. If you must work hard to earn money then, by default if you do not “work hard” you can’t earn money. So I state again, money doesn’t come from hard work, because if it did then every single person who worked hard would be well compensated and every person who sits on their butt doing nothing would be penniless.

But it isn’t so.

Money comes from those who know the right things to do to tap into the flow of abundance. They don’t work hard they work smart. They ruthlessly edit out the things they don’t need to do (busy work) and only do things that light them up and bring in the $$$

Sarah Blanchfield

In fact, I wrote a whole blog post about this awhile ago (you can read it here) and I’m so fired up about it still that I did a podcast on it to boot.

Here are four inspiring examples for you for how money doesn’t have to come from hard work (caveat: remember, it’s not that these women never work hard. It’s that they are living evidence that it is not a requirement to live the life you want)

Taylor Quinn @ Cake Money Consulting – https://www.instagram.com/cakemoneyconsulting/
Sonia_Teach – https://www.instagram.com/sonia_teach/
Lauren Osselton @ Lauren Osselton Creative – https://www.instagram.com/laurenosselton_creative/
Me (Sarah) @ My Bulletproof Budget – https://www.instagram.com/mybulletproofbudget/

What to change your mindset about how money doesn’t come from hard work?

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Have you ever found yourself overspending despite your best intentions? You swear to yourself that this time you will stick to your budget, stop eating out, stop going to Starbucks…but by the end of the week, you are so exhausted and just done making decisions that you seem to have that spending creep right back into your best-laid plans? You are not alone.

I too was once overspending my way to “happiness”….except it didn’t work. In this week’s podcast I break down exactly how I figured out I was using a broken strategy and how I learned how to stop overspending for good without depriving myself of the things that bring me joy!

Why is overspending such a problem?

First of all, when we think of overspending, even our word choice indicates that it has to do with willpower and self-control. We are taught that if we just “tried harder” or “had more self-control” we would spend less.

News flash!

We don’t overspend because we are lacking self-control or discipline. We spend money for 1 of 2 reasons; to avoid pain or experience pleasure.

When we are overspending money we are doing it to meet an emotional need. Always. Need food and shelter. Those are basic emotional needs for security and life sustaining fuel (food). Want to buy a new lipstick because you’re having a bad day and you need a pick-me-up? You can’t tell me that is not meeting an emotional need!

So how did this become a problem? The problem lies in this. When you use money as your key go-to strategy for meeting your emotional needs, you quickly realize that the little hit of dopamine you get from spending doesn’t last too long… and it has you craving more. Overspending should not be your primary tool to meet emotional needs.

The reason that it is problematic is that it doesn’t really meet your needs at the source. It’s just pacifying them for awhile. It’s like eating a power bar when you want a steak dinner. It will tide you over a bit when you’re truly hangry…but it’s not truly satisfying in the same way.

But when you try and remove your current coping strategy (overspending) full stop with nothing to replace it with to meet the emotional needs that you (rightfully) still have? It’s a set-up for failure. This is why trying to use “willpower” doesn’t work.

Your emotional needs haven’t gone anywhere and they demand to be met somehow. They deserve to be met.

Listen in to hear 3 ways I cured my overspending for good 1. Before you change your overspending habits: find a new way to meet your emotional needs you are currently meeting with overspending 2. When you start to save instead of spend: Learn to associate saving with meeting emotional needs 3. As your spending habits naturally change: Learn that you can still spend for pleasure

Overspending doesn’t have to be your permanent reality

You’ll hear me say this a LOT but where you are right now never has to be your perman

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This episode is quick and dirty and came from a comment I received on an Instagram post; Which quick money tips should I stop doing? So here’s 5 things to stop doing right now.

Let this episode be your permission slip to stop doing the things you don’t actually need to do, and start doing things that will actually support you with your financial goals and help you think more positively about your money. Because managing your finances should make you feel empowered here it is.

Quick money tips you’ll learn in this episode * You don’t need to check your bank balance everyday (and what is a better practice to use instead) * “Winging it” vs. having a plan; which is actually easier * If you’re still paying this one thing, changing banks is a must * What’s actually wasting your valuable time * Getting real with who you really are and cutting expenses that aren’t lighting you up

Ready to feel confident managing your money? Plus get your Digital CEO’s Guide to Financial Freedom to get started creating consistency in your outflow right now! Check it out here: https://mybulletproof.kartra.com/page/digitalCEOfreebie

Listen in and when you are ready to learn the truth about how you make financial decisions and create your own financial system, the Bulletproof for Life program is open for enrollment! Check it out here: https://www.mybulletproofbudget.com/bulletproof-for-life-program/

Listen to previous posts at https://moneymythbusterpodcast.com

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This myth REALLY fires me up and it’s one of the biggest ones out there, “getting debt free should be the main goal that you are attacking with your finances”. This sole focus around debt payoff is not only a whole lot of pressure but damaging your financial progress as well! We’re going to talk about why getting debt free should not be your primary goal with your finances so you can move beyond this belief.

In this episode I talk all about 3 reasons why you should stop focusing on debt payoff:

The strategy you’ve been told from good marketing is actually highly unsustainable (how to choose a better one)
The two purposes we actually use money for (and why it’s ok ‘cause we’re human)
The key to breaking the debt cycle so you can finally feel confident and safe with your finances

Plus get your Digital CEO’s Guide to Financial Freedom to get started creating consistency in your outflow right now! Check it out here: https://mybulletproof.kartra.com/page/digitalCEOfreebie

Listen to previous episodes here

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If you’ve ever thought to yourself, “If I could just create consistent income, I’ll be stable” yet as an entrepreneur found that it seems to be the opposite with income that comes in waves? Yea, we’re going full blown into myth busting today all about this idea that you cannot have (or it’s harder to have) stable finances as an entrepreneur. We’re going to talk about why this lie persists and break it down so you can move beyond this belief.

In this episode I talk all about how:

The conditioning from society that you must have a “pay check” style system
How to navigate the peaks and valleys of income
Where you should really focus your stability efforts as an entrepreneur
Why this is a mindset issue (not a money one)
How to create a situation where you consistently have money available

Plus get your Digital CEO’s Guide to Financial Freedom to get started creating consistency in your outflow right now! Check it out here: https://mybulletproof.kartra.com/page/digitalCEOfreebie

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Holy moly Batman! I’m fired up about this episode y’all. I can’t tell you how many times I hear from you that you “just need to earn more money” and then “all the money stuff will work out”.

In this episode I talk all about how:

Thinking you need more money is a mindset issue
The leaky bucket of your finances
Parkinson’s law and how it applies
Why it’s not the amount of money you earn but what you do with it that matter
Why fixing your bucket is the only way to get wealthy

Plus get your Digital CEO’s Guide to Financial Freedom to get started fixing your bucket right now! Check it out here: https://mybulletproof.kartra.com/page/digitalCEOfreebie

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Did you know that trying to learn about finance and manage it all on your own is probably why you are still struggling?

It’s not your fault, but if you are still reading books, trying apps and downloading every free excel template in sight…. You need to hear why:

Cultural perceptions keep you in DIY-mode
You’re placing unfair expectations on yourself
More knowledge won’t help you change your behaviors

Plus the #1 problem with the DIY-method that keeps you from actually succeeding!

Listen in and when you are ready to shift out of DIY-mode and get the support for lasting change, the Bulletproof for Life program is open for enrollment! Check it out here: https://www.mybulletproofbudget.com/bulletproof-for-life-program/

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Have you ever told yourself that you’re just not good with money? That you can’t save? Not good with numbers? Today’s episode I’m going to tell you why that’s a big fat lie that you’ve been fed.

Because let’s face it there is a lot of pressure out there and a lot of mixed messaging from:

Banks, credit card companies and ads designed with psychological tricks to part you and your money
To complete lack of true financial education that isn’t just about numbers
To shaming personal finance gurus who tell you that you just need more discipline and to “follow their perfect plan” (barf)

But guess what? It’s not you that is broken. You are not bad with money - you’ve been conditioned not to trust yourself and I’m here today with some fired up words of encouragement.

It’s not you - it’s the system that is broken.

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Ever wonder what someone else’s journey to success looked like? Mine was messy as hell. From living out of a truck, road-tripping across the western US, to living with rats and eating ramen, to buying my own home as a single mom of two.

I’m pulling back the curtain on all the stupid stuff I’ve done with money and how it’s shaped my core beliefs that:

There is no mistake you can’t come back from
Your present circumstance doesn’t have to be your permanent reality
It is your financial behaviors that determine your success - not your income

So if you’ve ever felt alone in your financial screw-ups, listen in on this episode because I bet you hear your own story nestled right in there with mine.

Like what you heard? Take a screenshot of this episode and share it - be sure to tag me @mybulletproofbudget so I can shower you with love!!!

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Do you have a sneaking suspicion that there is more to managing your money than just numbers in a spreadsheet? Yeah...you're not wrong. If you are content with your life exactly as it is, this is not for you. If you are happy just getting by, paying your bills, sort of saving, and staying stuck in the debt hamster wheel - you do you boo-boo! This podcast is for people who want more! Catch a glimpse of what you can expect on the Money Myth Buster podcast and how it can shift your financial reality by changing the way you think about and relate to money. Matching mindset with strategy and aligned action is the jam around here so people who want to stick with what they know....keep scrolling.

The Money Myth Buster Podcast: Recent Episodes

Money Myth Buster Podcast