Hi, I’m Janet with The Freedom Shift, here today on Janet Talks Business TV to discuss money matters. Does money matter? It’s an interesting question because, on the surface, the answer seems obvious. Of course, it matters. Money is basic to our survival, we need it for food, clothing and shelter. But more importantly, it buys us freedom and allows us to have more time to engage in a lifestyle of our choice.What I have discovered, however, is that money, whether in abundance or lack, is a big factor in how we view ourselves and how we behave. And our relationship with money carries over to our relationship with ourselves. Meaning that if you live in lack of money, of you will live in lack of confidence, lack of self-esteem, and lack of positive motivation. In other words, if your money mindset is to hang on to what you’ve got, you’ll never get ahead.
How do I know this? Because I’ve been there myself. And because I’ve talked to you, or at least more than 100 of you!
Here’s a quick story about me and money – From an early age, I was determined to have money – it represented independence to me. Even when I married and had 4 sons, I always worked so that I wouldn’t feel dependent on my husband. My mentality was “no matter what happens, I will be able to take care of myself and my children”. Fast forward a few years, when my oldest son Dan, was 15, my twin sons, Mike & Dave, 14 and my youngest, Rob, 11. All of a sudden, life with 3 teenagers and a pre-teen began to unravel. They became too old to leave with babysitters and too vulnerable to trust on their own. My oldest son was gravitating to trouble and the household was not running smoothly which was impacting the other 3 kids. It became very clear that unless I wanted the kid to end up in serious trouble, I had to leave my corporate career and spend some time helping him grow up.
That was a scary decision – but I was more scared not to do it for my son’s sake. Drawing on the entrepreneur skills that I have, I decided to start a business where my sons could work with me. The business was called Dynamic Discoveries, and we sold motivational pictures and items in malls. You know those carts in the center of the mall? Well, we had those in a couple of malls. We would order posters and cards, buy frames wholesale, and frame them at our kitchen table. We would then box them up, inventory them and bring them to the cart. My husband bought our first computer and figured out how to use Quick Books to track our inventory and sales. The boys all helped with the framing and they all worked at the cart. There are a lot of stories and lessons learned from those few years but my focus today is on the money aspect of this story.
Over the course of 3 years, I racked up over $100,000 in credit card debt. So to say the business wasn’t profitable, would be an understatement. But I do credit it with saving my son’s life and bonding us all as a family. It also taught all of my sons the value of working and earning money. See, they all made money because I paid them for their work, including commissions for sales they made – they had no idea that the money was coming from credit cards! Because my husband was still working, we paid our household bills, but everything else was put on the cards. There was something else I did during this time and that was further my education. Because I had time, I was able to get my Master’s degree and the payments for that were charged also.
So, when it was time for Dan to go to college, here I was without a job and $100,000 in debt. Did I have a few sleepless nights? You bet. But I prayed and I took action. Here’s what I found when I went deep inside of myself, a KNOWING with all of my being that I was going to pay it off. A BELIEF that I would find an awesome six-figure job. I NEVER doubted that I had made the right decision. I did not ALLOW myself to feel ashamed or embarrassed about the debt. In fact, I was GRATEFUL that I was able to rely on it to get me through. I CELEBRATED it as an INVESTMENT in all of my sons’ education and in our joy of working together.
Fast forward…yes, I got a 6-figure job, yes, my sons all grew up and now have families of their own. I paid off all my debt, built another business that was profitable, and then decided I wanted a more purpose based livelihood. 6 months ago I launched The Freedom Shift, to help entrepreneurs like you discover how to have more time, more money and live a life of Freedom.
And over the past few months, I’ve talked with over 100 of you. And here’s something amazing. You all want freedom. You are totally motivated to share your gifts with others. You want to help. You are passionate. And on every single call I hear the same thing “ I can’t afford it”.
My question to you is “What can’t you afford and Why? “ Your Money Matters are deeply rooted in your psyche and if you are going to be successful at business, you must face them, talk about them and resolve them.
I invite you to click on the link below to schedule a F.R.E.E. 30-minute Money Matters Session with me. I will help you discover the blocks and show you some simple ways to move forward.
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Tune in next week for more about Money Matters.
Sending you Light and Love.