‘Financial Self Love’: What It Means and How To Practice It

One thing that can cause anxiety about being in the property investment industry is the constant drone of how much expert property investors earn on a monthly basis.


Not only are these figures crazy high, but they can also make you panic that you aren’t doing that well, or aren’t set up for the future.


I get it! There have been low points in the past few years where I’ve struggled to get my business going. I’ve been at my final £100. I’ve thought ‘how the hell am I going to get myself out of this money hole?!’.


Even though I’m more financially sound now, I still worry that I’ll end up back at the end of my overdraft (I mean, once a worrier, always a worrier…right?!)


I’ve had to learn some lessons quickly, in order to become financially resilient and I now put that down to financial self-care… because trust me it makes me feel an awful lot less anxious about what’s going on with my money life.


Step 1


The first thing that keeps me on the straight and narrow financially is a monthly check in.


This is simple, I have a spreadsheet which shows my monthly income and my monthly expenditure. At the start of the month I copy and paste it and label it ‘April-19’ or the current month.


I then look at the income and expenditure (expenditure also now includes savings as well!) and adjust it to reflect what’s actually happening. I use my bank statement from the previous month just to check.


I then total my income and total my expenditure and figure out if I’m going to end up with a profit or loss for the month.


At this point, suspend all judgement, it doesn’t matter what the number is, just remember you are in control.


Step 2


I then scrutinise my expenditure. I’m honest with myself, is there anything I can cancel?


If yes, I do it then and there.


Don’t delay, even on a £0.99p subscription. Things I don’t need, I don’t pay for.


Step 3


I then think about my income. Do I need to add to it. If so… how?


  • Get more bookings on my SA?
  • Up my rent?
  • Change my pricing structure?
  • Find more clients?
  • Aim to increase my investments long term?


These are often crazy big tasks, so I pick one.


Deciding to do something about all of them causes overwhelm for me… I can’t handle it. I’ve learnt that from trying this before.


I then plan: how much do I need and when is the breaking point it has to happen by.


I then create key milestones and break the tasks down into such small tasks that I can easily handle it.


Step 4


I diarise a task for each day…


OK, you might be thinking WOAH there. That is the most sensible, straight forward, but high-level advice you’ve given.


What does this mean for me?


You need to have finance date with yourself. You need to know exactly what’s going through your bank account and rather than being terrified at the figures, you need to decide to do something.


Deciding to do something is where the switch happens. You need to make an extra £500 a month but have no idea how? Start asking your friends and family for advice….


I did exactly that two years ago and a friend told me to use Momox to sell all my old DVDs and Books… I found £145 and that allowed me to spend money on ads to increase my business.


Once you know what the true picture is, you can do something about it.


Diarise money time. Give yourself permission to be in control. That’s how you build yourself up financially… and trust me, there’s no shame in admitting when something isn’t going right. It’s incredibly admirable to ask for help.


You’ve got this!


What action are you going to take as a result of this post?


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