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How to Manage Your Money Efficiently?

I have taken a lot of coaching calls in the past two months and the one thing that I have heard people mention is: They don't know how to manage their money. They don't know how to track their money and they don't know where their money goes. This has come up so much, be it in relation to your business or be it in relation to personal finances.

💰Tip #1: Importance of Money

The first tip that I have is, money holds as much importance as you give it this is the most important one here. Because you can either treat money like your best friend or like your toxic ex. Let me give you an example. If you treat money like your best friend, you wouldn't be scared to see your bank balance you wouldn't be scared to look into your expenses and incomes you would know where they are, you would know where they're going, you would know where they're staying, you would know everything, you will be in touch with them constantly. But if you're treating it like a toxic ex, there are multiple opportunities where you can either be thinking of them as a negative or you can be the other person who still sticks by, working too hard and not making any money. You can also be another type of person where you are getting a lot of money, but not feeling satisfied.

There are so many ways that you can go about it. I talk about money relationships in detail, in my manifest money with ease masterclass.

💰Tip #2: Track Your Money

The second tip is to track your money. Now, this is one thing that people don't do. They don't want to go through Excel sheets. The point is you don't have to go through Excel sheets in order to track your money. Another thing is that you need to understand that if you don't know where your money is going and coming from, you cannot make the big decisions, you cannot make the big moves. You will not be able to make the big changes as well in your spending habits and making the most of your income. So one thing that I can give you here is to use the SMS Organizer by Microsoft, my friend recommended this to me, and Oh God, it's the best app you can have as a beginner. What it will do is every time you spend money, it will show it in RED in your notifications. Every time you receive money, it will show it in GREEN. It will also show you your bank balance in the SMS app itself and it can show you the balance of all your wallets, etc.

💰Tip #3: Money Spending Mindset

The third tip that I have for you is the money spending mindset. When I say that you need to have a money spending mindset. It means when you spend on something, you need to have the right energy, you need to feel a certain type of way, you do not need to feel things like "Oh God, all my money is wasted" or "Oh God, I just spend all the time. So maybe as I might as well spell spend." Now, these two are like the extremes and we don't want to go there. So the best way to go about it is to use this affirmation that I have been using.

Everything that I spend comes back to me, times 10.

This week, it helped me a lot when I am delegating stuff. So I hired a team member. Now if I have to pay a salary to that person, I don't want that person to get money, which is tainted with this energy of "Oh God, money is going out of my pockets." So I started saying this, that whatever I spend comes back to me times 10. And it definitely does, because this delegation process will help me give more time to my business. And I will be able to do things that actually move my business forward in terms of income, and reach the next level, while I can, you know, delegate the admin tasks to this person.

💰Tip #4: Money Date

The fourth, and last tip that I have for you is your money date. So this goes hand in hand with the second tip of tracking your money. But on your money date, you are going to go through your transactions and see your spending habits. You can do this weekly, daily, or monthly. I do this weekly. So if you are spending a lot, then maybe you would want to do it on a daily basis where you track your amounts like set out 10 minutes, it barely takes 10 minutes if you're doing it on a weekly basis, even five because you would know how much money you're spending. So just go through your transactions in the SMS Organizer by Microsoft and see how much is spent today. Write it down. Go experiment, write down in a journal, if that is something that suits you, and then do it on a daily basis, if you're doing it on a weekly basis, that should not take more than 15 to 20 minutes. But if you're doing it on monthly basis, it will take you 30 to 40 minutes to track all your expenses and your incomes.


Now it's time for your homework. If you're trying to reduce your spending, if you're trying to budget properly, I am going to give you this tip from 'atomic habits'. Whatever you want to reduce makes it super difficult for you. For example, you spend a lot of money on food, like I did on brownies. First I saw where I was getting it, it was very easy for me, I'd go to Zomato, I had all my payment methods already saved so it took me less than a minute to order it. But if I want to reduce my brownie intake, I will make the process of ordering super difficult. So I uninstalled the app. The next thing that I did was, I found out where am I getting the cues to eat a brownie, something that stimulates my mind. Usually, it would be on someone's story or on baking reels. So what I realized was, if I have the time to go through other people's stories and reels, it means that I'm wasting time and I'm not working on something that's important or working on enjoying something else rather than seeing what other people are doing.

So that automatically reduced another habit of mine.

If you want to reduce something, make it super difficult. If you want increase something, make it super easy


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