Does money… the lack of it… the fear of losing it… or the dread of not having enough keep you up at night?
If so, you’re not alone!
Money fears are especially common among aspiring self-bossers.
After all, without that steady paycheck you’re going to have to create your own money.
For most people that’s terrifying.
But do you know what scares the heck out of ME?
Relying on some employer to decide my worth!
Before I became my own boss I was at the mercy of whether I got an annual raise and if so, how much.
Other than trying to consistently do a good job… how much I earned was largely out of my hands.
But when you work for yourself – you can give yourself a raise!
The thing is, there’s a direct connection between your ability to create money and your financial attitudes, beliefs, and behaviors.
Are Your Attitudes About Money Sabotaging You?
Which of these common attitudes sound most like you?
YES OR NO: I Don’t Care About Money
This attitude is held by people making minimum wage and millionaires alike.
It can have its origin in religious beliefs, political beliefs or guilt at inherited privilege.
Pam grew up middle class. But being a child of the 60’s shaped her adult attitudes about money.
She loves having her own cake decorating business… but insists she doesn’t really care about money.
One way this attitude shows up is by always buying the cheapest version of any product.
Not because she’s frugal… but because Pam would feel too guilty allowing herself to have what she truly wants.
This attitude also shows up in a tendency to undervalue her skills. As a result, Pam charges far less for her cakes she could and is reluctant to spend money on marketing.
A classic under-earner, Pam sometimes relies on credit cards for basic expenses such as rent.
YES OR NO: I’m Clueless about Money
Doug rarely balances his bank statements, doesn’t know how much money he has or spends and, as a result, finds himself saddled with late fees and bounced check charges.
People like Doug often believe they’re not skilled enough to handle their money or that it’s just too much of a hassle.
When it comes to creating a budget or a retirement plan, he puts his head in the sand.
Doug makes a good income. That’s not the problem.
The problem is his unwillingness to pay attention to it also makes Doug vulnerable to theft, fraud, debt he can’t afford, not having enough to retire, even bankruptcy.
YES OR NO: I just don’t have enough money
Sarah often worries about money.
Not because she’s struggling.
To the contrary, Sarah makes twice as much as her friends.
But that doesn’t stop her from fretting to them about how hard it is to pay the bills.
At the root of Sarah’s fear may be a belief that she can’t take care of herself or that the world is a harsh place with scarce resources – or both.
People like Sarah sometimes fear that they will lose everything and end up homeless.
As a result, Sarah is highly risk averse.
YES OR NO: I’ll never have enough money
Mike also feels that he doesn’t have enough money.
But rather than seeing the world is a harsh place for everyone, he believes it is especially hard for him.
Other people will do just fine, but somehow he’s decided that he’ll always be poor.
If you try to encourage him, he’ll list the many strikes against him.
People like Mike are often under-earners, blind to the opportunities that are available to ensure that he does indeed have enough money.
What Does It All Mean?
If any of these attitudes resonate, the first step is to step back and examine them.
Not out of self-criticism. To the contrary. Your pattern exists for a reason.
As with all unhelpful patterns, they are there to serve you in some way.
So as you explore your attitudes and behaviors around money, do it with self-compassion.
Here are some questions to get you started:
Where did these attitudes originate?
How were your adult attitudes influenced by your family, religious upbringing, or childhood circumstances?
How are your attitudes different or the same as other family members?
What do your money behaviors help you get or avoid?
Again, all unhelpful patterns are there to serve you in some way.
For example, creating and maintaining a budget or creating a financial or retirement plan takes time and effort.
So by avoiding dealing with these things you get you more time for things you’d rather be doing.
If your friends or family believe that money is the source of all evil, then you echoing that belief wins you approval.
If you’re a small business owner who insists you don’t care about money, then you a built-in excuse to avoid marketing, sales, and other necessary tasks of entrepreneurship that you either don’t know how to do or don’t like doing.
What price will you pay if you never change your money pattern?
You never get something for nothing.
Your pattern does help you get or avoid something.
But this protection always comes at a cost.
The most obvious answer cost is a financial one.
Go deeper though and you may find the price includes things like unnecessary stress which can lead to health issues.
You’ll never get the things you want and deserve. It may be the source of relationship squabbles.
What opportunities and experiences might you miss out on?
If you never pursue promotions or you stay in a job you’ve long outgrown, you missed out on the chance to grow and learn.
You may miss out on valuable connections, cherished memories that might have emerged had you made different choices, being paid fairly for your work, the chance to make a difference in the lives of your family, community, clients/customers, and indeed, the world.
The Choice is Yours
Once you’ve explored what you get out of your pattern and what cost, you can make an informed decision. Keep your current money patterns – or make a change.
If you decide the price is too high, then it’s time to make a change.
Not all at once, but one small step at a time.
What’s one small change you can make this very day to develop a healthier relationship with money?
As you bring awareness to self-limiting beliefs and adopt a more empowering stance, you expand into a larger sense of personal freedom.
Healing your personal relationship with money helps build a solid foundation for weathering any future economic storms.
As importantly, once you develop a healthy relationship with money, you’re that much closer to being able to live life on purpose, work at what you love, and follow your own road.
Article license © Claire Communications. Revised by Valerie Young, Dreamer in Residence at ChangingCourse.com since 1995
Surprising Year-End Tax Deductions for Dreamers
By Valerie Young
As 2010 comes to a rapid close, I suppose I should be writing an inspirational message about the New Year.
How about a little practical inspiration that can help your wallet?
Every January 1, I set aside time to reflect on my 2011 goals.
But the last week in December is when I make sure I’m taking advantage of every benefit of being self-employed I possibly can.
Benefits you may not be aware are available to you, too.
You see, in the wise words of my friend and Making a Living Without a Job author of Barbara Winter:
“The American tax system is set up to benefit the very wealthy and the self-employed.”
That may not surprise you, especially if you already have a business.
However if you haven’t started your business – no make that ESPECIALLY if you haven’t started a business – there are some important tax facts that may surprise you.
SURPRISING TAX FACT #1: You have to have already started making money to take a deduction
This first one always comes as a surprise to people who haven’t yet launched a business…
Even if you don’t earn a dime until next year – or even the next 3 years — you can still write off legitimate business expenses you had in 2010.
It’s true.
As far as the United States Internal Revenue Service is concerned, as long as you are making what they call a “good faith effort” to earn a profit in the future – you can begin deducting any money you invest in building your business right away.
SURPRISING TAX FACT #2: Home or Away – as Long as You’re Working it’s Deductible
You probably already know about deductions for things like office supplies, books, and magazine subscriptions.
However, when your investment is intended to generate a profit, you may be able to deduct other things.
If you work from home, you can deduct a portion of your rent or mortgage and utilities. Even certain home repair expenses – like a portion of the cost of the new roof I put on or, in some cases, things like landscaping or snow plowing.
It gets even better.
If you take a 7 day vacation to the Caribbean or Florida or London and while you’re there you spend a day calling on local businesses or perhaps scouting out future seminar locales, your expenses for that day should be deductible.
For the last few summers my company (that would be me!) sends me to a lake in New Hampshire for a week to write. I deduct the mileage to and from the lake and groceries to keep me happily full as I work on my laptop from the deck.
SURPRISING TAX FACT #3: Learning is tax deductible!
You may not yet know “how” to make money doing your own thing…
But did you know that your investment in LEARNING how qualifies as a legitimate business expense?
After all, what could be more proof of your intention to succeed then investing in education and training designed to launch you into your own profitable business.
Live Training and Events
If you pay for a live class or a conference in 2010 that isn’t happening until 2011 you can still deduct it now. For instance, if you want to start a business around your love for cooking, or dogs, or clowning check out:
Basic Business Skills
Maybe you already work for yourself but need to improve some more general business skills. You can deduct tuition fees for courses on:
Business Building Training
You can also deduct the full cost of any learn-from-home programs designed to help you start a business. Some of my favorites are:
Profiting From Your Passions®
If the idea of getting paid to brainstorm interests you, there is another incentive to act on your dream this year.
Order by December 31st, and get up to $1,375 in savings and bonuses. This includes the opportunity to qualify for a private marketing session with me.
Deduct Travel Expenses Too
Even if the event itself is free, you can still enjoy some tax breaks. Last year I attended Entrepreneur magazine’s annual Growth Conference in Miami. This is me with keynote speaker Guerilla Marketing guru Jay Conrad Levinson.

Even though the conference is free, I was still able to deduct my travel expenses.
The 2011 conference is happening January 20th in Atlanta If you go I urge you to come prepared to pitch your business to the editors. (The line is long, but it moves fast and you’ll meet really neat people!)
Just book your airfare or pre-paid hotel reservations in 2010 and you can deduct these expenses this year.
Unfortunately I can’t make it this year because I’ll be gearing up for the $99 No Travel/No Brainer Work at What You Love Virtual Workshop happening January 22-23.
I’m still working out some details but if you would like advance notification when I do, click here.
No matter how your learning occurs, the point is it’s probably tax deductible, and if you pay in 2010, you can take the deduction before you take the course.
With any of these programs, even if the course materials don’t arrive until 2011 – as long as it’s on your credit card before December 31, 2010 – and it meets the “good faith” criteria, it’s considered a legitimate business expense.
BONUS FACT
If you want to be your own boss, you need to start thinking like a self-employed person.
I hope I’ve opened your eyes to ways you can realize the 2010 benefits of the American tax system before you’re even officially self-employed.
More importantly, if losing my Mom at the too young age of 61 taught me anything, it’s to not defer something as important as your dreams.
Time is ticking folks. Please don’t let this year end without taking at least one small step in 2010 to get you closer to where you want to be in 2011.
In the wise words of Audré Lorde:
“When I care to be powerful – to use my strengths in the service of my vision, then it becomes less and less important whether I am afraid.”
You can find lots of additional information on deductible expenses and other tax matters on the Self-Employment/Small Business section of the IRS web site at http://www.irs.gov/businesses/small/index.html.
My Canadian friends can check out http://sbinfocanada.about.com/od/taxinfo/Tax_Information.htm
If you live outside the US or Canada I encourage you to learn about possible the tax benefits for entrepreneurs in your country.