Yes, You Need a Financial Safety Net

Money has been on my mind lately….

Just today I talked with a colleague who was considering a business-building workshop. She was intrigued by the content, but chose not to attend because she wasn’t comfortable spending $5,000. Personally, I need more money than usual because I’m adopting. My savings account is depleted at the moment, and that fact has affected my normally optimistic attitude.

During the last two weeks I’ve had ongoing conversations with people who feel “stuck” in their lives, their jobs, their circumstances. Inevitably, the stuckness is related to money – lack of money, scarcity, fear of losing, etc.

I understand this mindset of stuckness and the behavior it creates. It keeps you in a job you hate or working with people who drain your energy. It keeps you in an abusive marriage because you aren’t sure where you would live or how you would pay your bills. It prevents you from taking risks and LIVING your life!

After all, how can you imagine more for yourself or your business if you’re worrying about bills? How can you rise to the next level when you feel mired in muck? Where is your brilliance focused – on the opportunity or on the fear?

Here are some specific actions to create YOUR Financial Safety Net:

Identify how much is “enough” for you to feel secure. You will want to set aside that amount of money in cash (preferably in a savings account instead of under your mattress). The number isn’t important. The feeling that amount provides is absolutely crucial! The feeling nurtures your soul and preserves your joy! It allows you to sleep in peace every night.

Create or Add money to your safety net account regularly. If you do not have a financial safety net, establish an account TODAY. Every time you get paid, a portion goes into the safety net account until you reach your magic number. Reaching the magic number gives you a sense of accomplishment. While you’re adding to your safety net, you experience a sense of movement. Movement in one area of your life creates movement in other areas as well.

Leave your safety net money alone! Having access to this money is important; spending it is detrimental to your emotional and mental health. Its sole purpose is to provide security beyond the typical “emergency” fund. The money provides confidence so you can take risks and pursue opportunities.

Enjoy your security. Continue to add to your safety net after you hit your magic number. Use the surplus as money for playing, traveling, experimenting, giving gifts, etc. Financial security allows your imagination to bloom. You will feel more confident to try new ventures. You will be Ready to Rise because you know that your family, your home, and your business are protected!

Keep your safety net in good repair. Sometimes you need your safety net when you least expect it. After all, a client can suddenly disappear, or a promised sale never materializes. If a hole is torn in the side of your safety net, it’s okay. When you have both feet on dry land again, you can repair your safety net before setting sail again.

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