How I learned the real value of $20 (a lesson in abundance)

Last week my partner went away for the weekend and I had the house to myself.  I found myself cleaning, making plans with girlfriends, catching up on emails and projects, and taking a closer look at my finances. As I dove into my bank accounts and credit card balances, I realized on my travels I was not as mindful about money as I usually am.  I bought what I needed as I was on my tour, but instead of tracking each expense against my income, I trusted it would all work out at the end of the month.

Years ago, this was my usual relationship to money, and I often found myself perplexed about where it all went at the end of the month.

Last year, I chose to get really honest with myself about my finances.  I read countless books about investing and personal finance and made a lot of changes in how I related to my money.

However, as I looked through my expenses, I realized I had gone back into my old habits and was feeling disconnected.

Then, I lost my wallet.  

I made a purchase online, and somehow between making that purchase and leaving my house for the farmer's market, my wallet had completely disappeared.  I knew it had to be in my house because that was the last place I used it, but I literally could not find it anywhere.

It felt like the universe was telling me, "You'd better pay attention before you spend any more money!"

I searched around the house and found a $20 bill that I had earned at one of my recent kirtan performances.   I was off to meet a friend at the farmer's market and thought, "This will have to do."  I knew my partner was away for three more days and I realized, "I may only have this $20 bill until he gets back - I need to make it last."

But I thought, "How am I going to manage with only $20?"

I knew I wanted to buy dinner, flowers for my solstice gathering, and to get fresh produce for my house as well.  I had to make the most with what I had.

Before making any purchases, I carefully surveyed each of the vendors, to determine what I could afford.

What happened next was magical.  I bought lemons and oranges for less than $2, a bouquet of flowers for $5, a large samosa for $5, strawberries for $4, I even felt I could donate $2 to the man giving away art on the side of the street.

And magically, I still had $2 leftover to save.  There was nothing else I wanted or needed at the end of the market.

I left that market feeling so abundant.  I had underestimated the value of $20 and was happily surprised about how far it could go when I was spending with awareness.

I saw, when $20 is all you have, you learn to work within your means... and you can still live abundantly!

Abundance is not based on the number of dollars in your wallet or bank account, it is a state of mind. {tweet this}

When I got home, I created a map of how I could spend within my means based on what I learned at the farmer's market.  I'd like to share it with you here:

Essentials (Food, living costs, gas, etc):  45%

Fun (Flowers, clothing, house items, going out, entertainment):  25%

Health/Well-Being (Essential oils, self-care items, supplements, yoga classes):  10%

Savings (Savings towards an emergency fund, travel, and bigger ticket items like a retreat or plane ticket):  10%

Donations & Gifts (Giving money to organizations I'm passionate about, donating to fundraisers, giving gifts, and in general money to feel generous with)  :  10%

That night, with a little more searching, I found my wallet.  I felt so much gratitude for the abundance at my fingertips, and had learned a powerful lesson about mindful spending.  Since then, I have been following my new map for the income I bring in, being mindful about where and how I spend.  The universe gave me a simple, yet powerful lesson that really showed me the value of what I used to take for granted.

Now I'd like to ask you:  How is your relationship to your finances? and Where are you lacking awareness?

I challenge you to make your own healthy spending map.  

Track how much income you earn each month in a spreadsheet and map out how much you would like to spend in each area of your life.

When you take the time to really look at your income and expenses, and choose to spend mindfully, abundance will soon follow.  Feel free to let me know how it goes in the comments below!

With love,

Meredith

How I got real with my money

This year I got real with my money. I was lucky to have enough money from family during college, and had savings to travel with after school, but it wasn't until this year, in January 2014 that I made a commitment to start reaching my income goals.

I had been living in the angst of "Why am I not earning what I need?"  "Where do I even start?" and "How can I ever pay my rent as a yoga teacher??" 

I have always spent time taking care of myself through yoga, healthy eating, rest, and drinking lots of water, but when it came to my finances, I ignored them.  

I rarely opened my credit card statements to read through the transactions, didn't look at my bank accounts except for when I took money out, I spent money freely, and hoped it would all just "work out" at the end of the month.  Living this way added a lot of stress to my life - especially when things didn't "work out" and I had to use my savings or money from my parents.

After months of living in that game - I felt pretty crappy.  I felt bad that I wasn't financially supporting myself, and that I couldn't live within the means of the money I was earning.  What I began to see was:

Looking at your finances is just another form of self-care.

As yoga teachers, healers and coaches, sometimes we think we need to offer our gifts for free or donation-based in order to be of service.  However:

You need to earn a good income to continue doing your great work.  {tweet it}

If you're not able to pay your bills at the end of the month, and you have to go back to finding another job, you are not honoring your gifts, or the people who are coming to you for them.

What I've learned is:

If we choose to ignore our finances waiting for everything to “work out” then we:

• limit our potential
• our impact
• our ability to retire one day
• we’ll probably always have to rely on other people and
• we take away our freedom to make empowering choices for ourselves

BUT...

If we choose to take our finances into our own hands:  we can live a life with:

• freedom
• empowerment and
• we can focus on how we want to give back and be of service to the world

This year I invested in myself in ways I never had before:  I hired a coach, a photographer, and a web designer, I attended Marie Forleo's B-school, and I went on my first retreat.  Every time I invested in my education and my business, I gained back huge amounts of knowledge (and income) in return.

In April of this year, I began meeting the monthly income goals I had never been able to meet before.  I led my first group coaching program, I consistently gained new clients in my private practice and I even saved enough money to go on a trip to Hawaii.

I've been talking to other women, and clients who are in a similar position I was in: taking steps to take better care of themselves, but looking the other way when it comes to their finances.  So, I decided to lead a teleclass series on this topic, to share all I've learned with you.  I'm calling it, "Financial Alchemy:  3 Calls to Create a Money Mindset." 

In this series of 3 free calls I'll be sharing: 

• Practical tools to track income and expenses
• How to create a budget and save more money
• How to spend with awareness
• How to know and own your value AND
• Alchemical tips to earn more income in service to your passions

The first call is Wednesday, October 29 at 5 pm PST. You can sign up to receive the call info and recordings here.

Love, Meredith

_____

About the Author:

Meredith Rom is passionate about empowering women to embody their Divine Feminine presence and rise to new levels of financial abundance.  She works with women one=on-one and in groups through yoga, online programs and writing