Setting smart financial goals will set you up for eliminating your financial anxiety. Learn how to set honest, achievable financial goals for the year.
Video:
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Podcast:
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Video Transcript:
Okay, this week let’s set some financial goals, all right? I’m John Paul Fischbach, I’m the CEO and Chief Alchemist here at the Auspicious Arts Incubator. And this week let’s talk about financial goals. Now of all the goals that you should create setting financial goals is kind of an important one for two reasons. One is that we are great manifesters, if we have a vision for something we can achieve it. And number two is you can’t manage what you can’t measure. So, if you’re not measuring something you can’t actually build a financial goal. So to build a financial goal that you can achieve starts with believing that you can achieve it and that starts with knowing how much you earn and how much you need to earn. So, once you know how much you earn and how much you need to earn in a year to live without financial anxiety you can build a plan to get there. Now there are two parts to figuring this out. Number one is knowing what it cost you to be a practicing artist. And number two is having a good, honest financial goal. Now we’re going to focus on this second part, having a good honest financial goal. Now here’s one way to create a financial goal. I want you to list every revenue stream that you had last year and how much you made from that revenue stream. So add it all up to get your total income.
Now, I want you to think about last year. Was money really tight? Did you have trouble paying your bills? If so I want you to add enough money to that number to make the number anxiety free. Now also please add money for things that every artist needs that you didn’t have last year like maybe health insurance, or paying off your credit card debt, or to putting money into savings, or taking a holiday. Okay? So once you have this number this is the financial goal. Now you need to feel the need for that goal. You have to visualize yourself achieving it. So I want you to imagine yourself, jump forward into the future at a time when you’ve realized that goal, right. Because we are good manifesters, if we can visualize it, see it, feel it, hear it, we can probably achieve it. So, do the work, create this financial goal but I want you to make it a MAP. I want you to make it a MAP. Now that stands for measurable, actionable, and passionate. Okay. So, there you go, that’s your financial goal that I want you to set for next year. So for people that are in the ASAP program we’re gonna take this a little bit further and create a simple financial action plan to make sure that we achieve the goal. Okay? But for those of you that are just joining us for this short one, get this financial goal, it’s critical. All right. Now if this tip was helpful share it with a fellow artist. And if you need other practical help to build your arts business check us out at www.auspiciousartsincubator.org.