What if you approached your personal finances the way a CEO manages a successful business?
Imagine running You Inc., where every financial decision you make is intentional, strategic, and aligned with your long-term goals.
Seeing Yourself as a Business
When you set up a company, something profound happens: a new entity is born. This entity, separate from you, has its own identity, much like how a business has an Employer Identification Number (EIN), akin to your Social Security Number. It’s a living, breathing organization with its own goals, responsibilities, and financial health to manage.
Now, think of yourself as that business. Let’s call it Your Name Inc. You’re the CEO, the CFO, and the Board of Directors all rolled into one. Your job? To maximize profit, minimize waste, and ensure the long-term health and growth of your personal “company.”
That’s where the YOU Inc. mindset comes into play.
Are you profitable? Are you cash-flow positive?
Cash Flow is Your Lifeblood
In the world of business, cash flow is everything. It’s the lifeblood that keeps a company thriving, allowing it to grow, invest, and survive during tough times.
Ultimately, positive cash flow is a sign that you are providing value to the free market. This is how basic economics should work. If a business or entrepreneur can successfully solve a problem for society, society will reward that entrepreneur by buying their product or using their service.
Just like a business, your personal finances rely on effective cash flow management to ensure a stable future. Your cash flow is what tells you whether you are a net producer or a net consumer. Are you producing more than you consume? Or consuming more than you produce?
Just like any well-run business, Your Name Inc. needs a robust cash flow management system. This involves tracking every source of income (revenue) and scrutinizing every expense (cost). A smart CEO knows that every dollar spent must contribute to the company’s goals. It’s about being intentional with your money—knowing where it’s going and why.
The ICCY Filter: Your Financial Decision-Making Tool
You might have heard me talk about The ICCY Question.
Well, it applies to your finances too. This filter can help you evaluate your spending and make more intentional financial decisions. Think of it as a way to prioritize your spending so every dollar aligns with what truly matters to you. Your money is your time and energy in an abstract form. There's no point spending your life, your time, and energy working for money only to waste it once you get it. Use this filter to figure out what's really important to you.
Here’s how it works:
Interested: These are expenses that you enjoy, but they’re not crucial. Maybe it’s your daily coffee run or a streaming service you only watch occasionally. If you’re only “interested” in it, consider cutting back or finding a cheaper alternative.
Committed: These are the non-negotiables—the things that are essential to your well-being and align with your core values. This could be healthy groceries, your home security system, or investing in your professional development.
Crazy About: These are the expenses that bring you immense joy and fulfillment. Think about family vacations, hobbies that light you up, or donating to causes you’re passionate about. These are worth the investment because they add real value to your life.
By applying the ICCY Filter, you’ll gain clarity on what’s truly important and where you might be spending money out of habit rather than intention.
Becoming the CEO of Your Financial Life
When you start thinking like the CEO of Your Name Inc., every financial decision becomes an opportunity to strengthen your business. It’s about shifting your mindset from simply being a consumer to being a strategic leader of your own financial destiny.
So, here’s how you can start:
1. Clarify Your Financial Goals: Take a moment to define what financial success looks like for you. Whether it’s building an emergency fund, saving for a home, or investing for the future, having clear goals will guide your financial decisions and keep you focused on what truly matters.
2. List Your Income and Expenses: Create a detailed list of all your sources of income and all your expenses. Include everything—from major bills to minor subscriptions.
3. Apply the ICCY Filter: Go through your list of expenses and categorize each one as Interested, Committed, or Crazy About. This process will help you understand what truly matters to you and what’s just nice to have.
When you adopt this mindset, you start to lead your financial life with intention and purpose.
Your goal becomes to provide value to the world, minimize expenses that don't align with your vision and goals, and to maintain profitability and positive cash flow. If you’re ready to take control of your finances and move toward true financial independence, F40 is the perfect next step. Our 40-day sprint is designed to equip you with the tools and strategies you need to eliminate bad debt, boost your income, your independence and ultimately, your impact.
F40 is about designing a life you love and building the financial foundation to support it. We’ll challenge you to envision the future you want and then give you the roadmap to make it a reality.
F40 launches later this year and now is the perfect time to start your journey. Join our community to stay connected, get early access to resources, and be the first to know when enrollment opens. Together, we’ll take the steps toward financial freedom and a life of purpose.
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