5 Money-Draining Mistakes That Keep You Broke & Broken

5 Money-Draining
Mistakes That Keep You
Broke & Broken
Hosted by Building Bridges Consulting & The LADIES Group NFP

This webinar is free; however, please consider giving a donation. All
donations will benefit The L.A.D.I.E.S. Group NFP. For more
information, visit our Go Fund Me campaign
at http://gofundme.com/theladiesgroup

support@coachniquenya.com
@coachniquenya
 President & CEO of Building Bridges Consulting
 Founder & Creator of The LADIES Group NFP
 Director of Networking in High Heels
 VP of Membership – West Ridge Chamber of Commerce
 Small Business Consultant
 Executive Coach
 Corporate Trainer
 Motivational Speaker
 Author

@coachniquenya
 Product of a single parent home
 Lived in public housing
 Supported by public assistance
 Teenage mom
 Poor financial management habits
 Bad credit
 Financially illiterate
 Smart girl with no money

@coachniquenya
 Unhappy with my financial situation
 Affected every other area of my life
 Knew I was smarter than that
 Wanted something different
 Chose to do something about it
 Actively worked to do something about it
 Started my business to teach others how
 Passionate about helping people to overcome financial
distress
 POVERTY IS A CHOICE!

This webinar is for you if you’re…
 Tired of being broke
 Want to make more money
 Want to create alternative income streams
 Want to become financially free
 Want to build a legacy
@coachniquenya

Agenda
 Identify the 5 mistakes you are making that are keeping you broke
 Master your mindset to attract and retain more money
 Explore the 4 main money methodologies
 Apply easy actions to fix your finances now
 How I can help
@coachniquenya

What’s stopping you now?
You’re probably making one or more of the 5 money-draining
mistakes that are keeping you broke and broken!
I will show you exactly how you can move past this place of
lack and into the warmth of self-sufficiency.
@coachniquenya

The 5 Money-Draining Mistakes That Are
Keeping You Broke & Broken…
@coachniquenya

Mistake #1 - Failure to plan
 Failing to plan is planning to fail
 You need a budget to keep you on track with your goals
 Do you know your net worth? (ASSETS – LIABILITIES)
 Includes every type of income and expense
@coachniquenya

Mistake #2 - Lack of Savings
 Can’t predict the future
 Emergency situations
 Education
 Financial goals (car, home, vacation, etc.)
 Peace of mind
@coachniquenya

Mistake #3 - Spending Beyond Your Means
 Overspending leads to financial disaster
 Distressed by stress
 Rob Peter to pay Paul
 Unhealthy risks with negative consequences
 Health
 Relationships
 Career
@coachniquenya

Mistake #4 - Don’t Diversify Income
 Employers aren’t loyal
 Workforce is competitive
 Customers don’t pay and businesses close
 Bad things happen to good people (illness, accidents, etc.)
 What’s your Plan B?
@coachniquenya

Mistake #5 – Avoid Talking About It
 Unaware of your situation – knowledge is power
 Unfair assumptions and expectations
 Upside down trying to keep up appearances
 Pass down financial illiteracy to children
 Creditors know more about your finances than you do!
@coachniquenya

Recap of the 5 Money-Draining Mistakes
1. Failure to plan
2. Lack of savings
3. Spending beyond your means
4. Don’t diversify income
5. Avoid talking about it
@coachniquenya

Why are you making these 5 mistakes?
#1 Reason - You haven’t
mastered your
money mindset!
@coachniquenya

What is your money mindset?
 What relationship do you have with money?
 Shaped by the things you have been taught growing up
 Influenced by parents, teachers, peers, and even your spouse
 If you believe money to be the root of all evil then you will
unconsciously avoid making it and keeping it!
@coachniquenya

Think about your money mindset and
the mistakes you’ve been making…
1. Failure to plan – might mean you haven’t learned discipline
2. Lack of savings – might mean money isn’t important to you
3. Spending beyond your means – might mean you’re used to being spoiled
4. Don’t diversify income – might mean you rely too heavily on others
5. Avoid talking about it – might mean money makes you uncomfortable
@coachniquenya

Ask yourself…
1. Does money make you uncomfortable? Can you talk about it?
2. Are you satisfied with your life?
3. How do you view yourself? Are you successful, struggling?
4. What are your earliest memories around money?
5. How do/did your parents handle money matters?
6. What sentence best describes how you feel about wealth?
7. Did you consider yourself rich or poor growing up?
8. Was money a source of conflict growing up?
9. Does money play a central theme in your thinking?
10. How would you rate your level of stress around money?
@coachniquenya

 You bring your money mindset into adulthood
 When you grow up with lack you will feel less comfort with attracting and
maintaining wealth
 Your money mindset helps you to know if you’re heading in the right direction
 Exploring your money mindset sheds light on your beliefs and habits
 Do you need to change your money mindset?
@coachniquenya
Your Money Mindset Is Important!

1. Earn – income generation from a job or business
2. Spend – bills and other expenditures
3. Save – safety net and emergency fund
4. Invest – asset and wealth creation
What can you do to master your money mindset now?
@coachniquenya
The 4 Main Money Methodologies

1. Earn Money
 Get a second job or career that pays what you’re worth
 Create one or more sources of self-employment
 Monetize skills and hobbies (become a contractor)
 Ask for salary/wage increases regularly
@coachniquenya

2. Spend LESS Money
 Stick to a budget
 Include entertainment (things you like to do)
 Never spend more than you earn!
 Seek ways to cut spending by addressing bad habits first
 Smoking
 Eating Out
 Drug/Alcohol Abuse
@coachniquenya

3. Save Money
 Pay yourself first
 Maintain an emergency fund
 Take advantage of direct deposit
 Participate in rewards programs
 Add couponing to your savings strategy
@coachniquenya

4. Invest Money
 Make your money work for you!
 Take calculated risks
 Purchase assets that earn money
 Stocks & Bonds
 Home & Other Rental Property
 Warning – Cars are NOT assets!
@coachniquenya

BONUS - TALK ABOUT MONEY!!!
 Have regular, open communications about money with…
 Spouse or significant other
 Children
 Siblings
 Trusted friends
 Seek an expert!
 Financial Advisor
 Coach
@coachniquenya

As your coach, I can help you to…
 Identify and master your money mindset!
 Set clear financial goals and objectives!
 Explore alternative income streams!
 Overcome challenges and obstacles!
 Regain clarity, focus, control, and peace of mind!
@coachniquenya

During your program you can…
 Get control over your finances
 Set a realistic budget
 Learn how to talk about money effectively
 Fix your credit
 Start or grow a business
 And much more…!
@coachniquenya

Master My Money Mindset Program™
3-month, one-on-one support and accountability includes…
 Comprehensive questionnaire to explore your mindset ($97)
 Biweekly, 30-minute strategy sessions ($997)
 Unlimited email support between sessions ($97)
 Done-for-you templates for your guaranteed success ($97)
 BONUS: Do-It-Yourself Easy Credit Repair Guide ($9.97)
@coachniquenya

Special Limited Time Offer…
Only $149 per month!
Over $1297.00 Value!
~Only 10 spots available~
@coachniquenya

Special Limited Time Offer…
Only $149 per month
Over $1297.00 Value!
~Only 10 spots available~
Register now - http://bit.ly/mastermymoney
@coachniquenya

5 Money-Draining Mistakes That Keep You Broke & Broken

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5 Money-Draining Mistakes That Keep You Broke & Broken