11 Things You Need to STOP Doing to Win With Money

One thing I know for sure is that learning about money can be overwhelming. Most of us weren’t taught about money by our parents or the school system (But I do know how to play Hot Cross Buns on the recorder!). And there’s a massive amount of information on the internet, much of which is conflicting or uses lingo that the average person doesn’t understand.

I’ve been where you are: 

  • Wanting to master money but overwhelmed by all of the information you’ve collected. 

  • Motivated to improve your money situation but not knowing where to begin, who to count on, or what to prioritize on the road to wealth. 

You want a clear path to wealth, while living a lifestyle that brings you joy & doesn’t leave you experiencing serious FOMO.

If you truly want to win with money, one of the first things you need to know is what to STOP doing. So I’ve created a list of 11 (my favorite number) things to avoid in order to experience success on your path to becoming a BBB (badass boss bitch)!

#1 Avoiding all talk of money

Money is taboo for so many of us, and avoiding talking about it can lead to self-sabotage at worst and poor management of it at best. But the more we talk about it, the more normalized it can be. The more commonly we discuss money, the easier it is to get help & advice. Men openly talk about money with their peers & elders, but women have traditionally been told this is not ladylike, and the shame women feel around money can make it more difficult for us to excel financially. Normalizing talking about money de-stigmatizes the topic and can only benefit us as women!

#2 Taking advice from broke people

The broke people that we all know are this way for a reason. The advice that these individuals provide (solicited or not) will likely not help you in the long run. If you’re needing advice, turn to a trusted friend, colleague, or coach (did I mention this is exactly what I do for women??), or feel free to post your questions in my free Facebook group Bee Rich Society

#3 Believing the lies you tell yourself

Most women come to me when they start thinking “I’m tired of my own bullshit.” “I’m tired of making excuses for my spending & not getting anywhere.” The minute you create awareness about the mistakes you’re making, you can start addressing them one by one. But be gentle with yourself. Many of my clients get frustrated with themselves when they have realizations about the cause of their money issues, but if you’ve been living a certain way for many years, you won’t change immediately- even if you have all the information. One helpful money affirmation that I recommend writing down for this situation is: “You don’t plant a seed & harvest the same day.”

#4 Not having a plan for your money

Know what your goals are, have a plan for where your money needs to go, and stick to it. You may be able to earn a lot of money, but having a plan is the only way to truly ensure that you keep it.

#5 Saying ‘yes’ to everything

Part of a wealthy mindset is learning to say no when it isn’t in alignment with your personal and financial goals. Only saying ‘yes’ to things that excite you is a perfect healthy way to live your life, and saying ‘no’ to the things that drain your time, energy, and money is a great way to protect your sanity & your wallet!

#6 Putting yourself in tempting situations

If you know that you charge $150 to your credit card every time you go into Marshall’s, avoid that store like the plague (unless you actually need something)! Tempting situations are different for everyone, but being aware of what they are can be key to avoiding overspending. 

#7 Using your credit card as a crutch

If you’re going through your debt-free journey, you’ll want to halt all credit card use for now. Credit cards are best used for emergencies or for getting rewards, but that’s only when you have the money to pay off the full amount before you charge it. If you don’t have the money and it’s not a true emergency, avoid pulling out your card and thank me later. One simple hack that I like is putting a piece of tape over your credit card with a short phrase to remind you not to use it. “Not today demons!” is one of my favorites :) 

#8 Paying off debt without emergency savings

Before paying off debt, get at least $1k saved up for emergencies. If this step is skipped, it’s common that an emergency will arise that will cause you to charge your credit card, leaving you in the same place you started. Starting is often harder than continuing, and re-starting can be even harder. Having an emergency fund can help you to stay on track and avoid starting over. 

#9 Focusing on too many goals at once

In order to make the most of your money, you’ll need to get hyper-focused on one area at a time. That means if you are trying to save up for a car, focus all your extra money toward the car until you’ve reached your goal. This, as well as other short term goals, can fit into a long term goal of ‘being financially independent’, but trying to accomplish multiple short term goals at once can be overwhelming.

#10 Waiting to invest

Because of inflation, keeping your life savings in a bank account will actually cause you to lose money over time! However, the earlier you start investing, the better off you’ll be. This is because of our friend: compound interest. Compound interest is basically interest growing on top of interest earned, plus what you originally invested. This means that the more your money grows, the faster it multiplies; and the faster it multiplies, the more momentum it gains. 

#11 Not prioritizing self-care

When I catch myself being tempted to overspend, it’s usually because I am trying to cover up a feeling. Am I lonely? Sad? Pissed about my adult acne? Annoyed that I’m throwing all my money into renovating a house I’m not going to be living in next year? 

When I have these thoughts, I’m tempted to do a bit of retail therapy, and that’s when I know I need to refill my cup. Self-care looks different for everyone. For me, it’s doing a hair mask, binging a TV series, coloring, snuggling my dog, or spending time outside. For you, it might look a bit different. Ask yourself what makes you feel recharged, write a list of low-cost activities, and pick an item from the list the next time you feel tempted to overspend.

Save this article for the next time you need a reminder of what NOT to do on your journey to financial success. And for step-by-step guidance on getting out of debt, reducing your spending, increasing your income, and improving your money mindset, check out my brand-new course Grown-Up’s Guide to Money: The Shit You Wish You Learned in School. Click here for more information. See you there!