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Hey there, welcome to another episode of The Business Freedom Lab! I'm thrilled that you've joined me today as we dive into a crucial topic: personal finances. Now, I get it – personal finances may not be the most exciting subject for everyone, but trust me, it's one of those things you shouldn't ignore.

Let me share a bit of my journey with you. Back in 2018, I was so focused on building my business that I often neglected my personal financial well-being. I'd invest in my business, but I wasn't paying myself. I used to think it was commendable to pour my savings into my business, but I wasn't seeing the personal financial results I hoped for. That's when I realized I was missing Wealth Rule Number 1 - Pay yourself first, from my money rule book.

So, what do personal finances entail?

It's not just about managing money; it's about your overall financial well-being. It's about having a financial plan, setting and achieving financial goals, and ensuring your income aligns with your financial aspirations. And, of course, growing your wealth – because who doesn't want financial security and freedom?

The Build, Manage, Grow Framework

The "Build, Manage, Grow, Power" framework is the easiest way to think about personal finances. The beauty of this approach is its simplicity.

• BUILD - First, you need to ensure a steady income. As an entrepreneur, your net pay should be consistent. That's the foundation.
• MANAGE - Next, give your money a purpose. Allocate a percentage of your income to different categories: necessary expenses, wealth-building, and fun activities. It's like putting money into separate buckets, making sure you're prepared for all your financial needs.
• GROW - Make your Money work for you. Create an investment hypothesis and start investing in your wealth. Wealth-building expenses are the key to your financial future. This is where you save and invest for your long-term goals.
• POWER - Power your mindset to abundance and possibility. It's essential to have the right mindset. You can plan all you want, but if you're not committed, it won't work. Your mindset determines your financial success. Start with a clear vision of how managing your money will change your life for the better.

By taking control of your finances and giving your money a plan, you're paving the way for a peaceful retirement and the freedom to enjoy life's simple pleasures. So, here's my challenge for you: Reflect on how you're managing your money right now. If you're not giving it a plan, consider joining me to learn how.

Remember, it all begins with awareness.

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Still want to learn more and discover how to build financial independence in your business without self sabotaging your success?

Download the Ultimate Financial Guide now!

https://www.freedomsun.co/financialguide