Wealth & Wonder Vol. 8

On a trip to Maine the other weekend, we got caught in grueling, brutal traffic. A 7-hour drive became 12 HOURS.

The drive was so long that I developed wrist tendonitis from holding the wheel. (Maybe it was tendonitis, maybe something else, I'm not a doctor OKAY)

The point is, the drive was SO LONG there were injuries.

It got worse and worse throughout our (lovely) weekend in Maine, and then we had to drive BACK.

By the time I returned to NY, I was in serious pain. I was dreading the doctor visits, physical therapy, and medications that were likely to follow.

To buy some time, I bought a $15 wrist brace from the pharmacy. I wore it every day for the next 5 days.

And... my injury healed.

I didn't need doctors, or PT, or meds. I just needed to let it be stabilized*.

Most clients come to me in a similar (emotional) state.

They feel overwhelmed and like they're drowning, and they think they'll need to make expensive, fancy changes to their finances or their business to make progress.

But often, the most important thing they need to do is stabilize their finances, ie, pause and evaluate exactly where they are right now.

This is why understanding your cash flow is the most important place to start when you're feeling financially overwhelmed.

Ask yourself:

1) What is my monthly average income? And what is the average of my three lowest months?

2) What are my average monthly expenses?

3) Are my average expenses higher than my lowest 3 months? Higher than my average income?

If yes, now we know where to start (hint: the answer is almost always yes)

If you're feeling overwhelmed with your finances in your business, start with asking yourself these questions.

If you need help, send me an email at kacy@kacyrice.com with your answers (or questions), and we can chat about it! I'm happy to help you get started.

In Wealth & Wonder,

Kacy

P.S. * I'm seriously not a doctor, so don't take my medical advice.