Back to Basics - Stability Beyond Income Goals and Cash Flow

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Ep. 192: Back to Basics – Stability Beyond Income Goals and Cash Flow

In this episode of Your Money Your Life, I’m pulling a video out of the vault and we’re diving into the basics of building a solid financial foundation. Using real-life examples, like when my husband and I bought our own semi-truck and faced unexpected expenses, I’ll explain the importance of not just focusing on revenue goals but also the necessity of managing cash flow and expenses.

We’ll explore the “unstoppable finances framework,” emphasizing offense (income generation) and defense (expense management). Understanding this balance is crucial to avoiding burnout and achieving sustained financial growth. Plus, I’ll provide insights into overcoming financial guilt and shame. Join me to start making impactful changes today!

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How to Make Smart Money Moves

Back to Basics Series

Today we are in a back to basics series. Over the next few weeks, we’ll talk through the foundational pieces that make a massive difference in your finances. This short and sweet series I’m pulling out of the vault will help you solidify your finances and open the door to quickly see massive growth. So let’s get to it.

The Importance of Revenue Goals

If you’re running a business, you’re most likely thinking, if I can just hit my revenue goal, if I can just hit six figures, then we’d be set. I get it. Specifically, when we bought our own semi truck. My husband’s a truck driver, and in 2015, we bought our own semi truck and the sky was the limit. We saw the potential.

Handling Unexpected Expenses

We saw all that we could accomplish, all that we could make because he had been a company driver for so long, only to have the transmission go out on the first day on the road. $10,000 plus in repairs are right off the bat. And you’re on the right track by looking to scale and hit those income goals. But you’re missing that vital piece. Your business and the income it produces is the offensive side of the unstoppable finances framework.

Managing Money Now

And it’s important because we can only manage the money we have right now, right? Like, there’s only so much you can do there. But if you don’t handle cash flow and manage your money now, you’re going to spend time or money trying to figure it out later. And time wasted is a fast track to burnout. And money wasted is like revenue that you’re not going to see the profit that you should.

Playing Offense and Defense

If you prioritize the unstoppable finances framework, then you’ll save that time and money by making it a priority. Now it’s also easier to scale and systematize along the way. So yes, you’re playing offense, you’re making the money, and you’re working on those things. But we also need to play defense, which means managing your expenses, knowing your numbers and having a strategy.

Investing Wisely

That’s not saying we don’t invest in our businesses. You absolutely should. But we need to play that defensive side as well, and not just when tax time comes around. The other part is the battlefield. This is your money mindset, this is the economics.

The Right Mindset

And the battlefield part of the unstoppable finances framework helps you approach this with the right lens. Having the growth mindset and that success mindset is going to be valuable. It’s going to be game changing. So by now you’re probably understanding that this has to be a priority from the beginning to successfully make that profit that you’re looking for while avoiding the burnout and the wasted time.

Dealing with Inconsistent Income

But you’re probably thinking my income isn’t consistent right now. It is not feasible for me to budget or to do this yet, or I just need to break even first. If that’s you, don’t worry, I’ve got you covered. We’re going to be talking about that in the next video.

Remove Money Guilt and Shame

You’re struggling with shame and guilt around your finances. Whether it’s debt, impulse, spending, mistakes from the past, or the fact that you still haven’t hit your income goal. Then it’s time for you to work with me. There are different levels of support and price points that you can use on the path to removing that guilt and shame so you can step into your unstoppable life.

Get Support for Your Finances

After all, your finances are unique to you and your support should be too. Go to www.workwithaimee.com to get started with one of my most popular programs. Or you can book a Q and A call with me. We’ll figure out what your next step should be. And of course, all those links are hanging out in the show notes as well.