33 One-Minute Money Lessons It Took Me A Lifetime To Learn

  1. Get a password manager. Just f#cking do it. You’ll sleep better when your shit is secure.
  2. Find a really good accountant. Don’t just go with H&R Block or the dude your parents use. This person will save you so much money you’ll laugh when they hand you their bill.
  3. Plan to pay lots of taxes. If you’re not planning to pay taxes, then you’re not planning to make money either.
  4. A crappy (or non-existent) bookkeeping system will slow your growth. Hire someone who specializes in the type of business you run, and knows how to automate processes without compromising your data.
  5. Register for a tax number. Even if you’re technically below the threshold of what you’re legally allowed to bill without charging tax. If you don’t, you’re unconsciously putting a cap on your income.
  6. Just because you’re an online business doesn’t mean you’re exempt from charging tax. Talk to an accountant and put a system in place. Build it into your pricing so it doesn’t hurt conversions on the checkout page.
  7. Find a bank manager who gets your business. If they don’t ask questions or Google you up before your first meeting, they’re not your bank.
  8. Start saving for retirement way before you think you’re ready. No one else is going to do it for you.
  9. The bank your parents used might not be your bank. So shop around before you decide to stick with the bank you chose when you were 5 years old.
  10. When someone pays you money for your product or service, say thank-you. Just because you’re giving them something in return doesn’t mean you’re exempt from expressing gratitude.
  11. When you pay someone money for their product or service, say thank-you. People provide w-a-y higher quality of service when you praise them for their fine work.
  12. Your marriage depends on you having uncomfortable money conversations with your spouse. Don’t avoid them. They have a way of bubbling up in even more uncomfortable ways.
  13. If someone is undercharging you, tell them. Otherwise, you’ll expect too much and be disappointed in them when they deliver what you paid for.
  14. Don’t bill in full before the job is done, ever. Every so often this happens to me with a contractor. It feels weird. Unless you’ve arranged and approved it with the client, it’ll be weird for them too.
  15. “Charge what you’re worth” is a bunch of B.S. Try charging what the work is worth. Perceived value is important, but ROI is a more reliable yardstick.
  16. Question everything your parents taught you about money. Regardless of their financial position.
  17. You haven’t closed the deal till the money’s in the bank.
  18. Give generously. It always comes back.
  19. Someone should’ve taught you financial literacy, but they didn’t. It’s up to you, kiddo. You can start with a trip to the library.
  20. Be the one who brings up money. When you take control of the money conversation, you take control of your financial future
    [clickToTweet tweet=”When you take control of the money convo, you take control of your financial future. #moneymindset #entrepreneur” quote=”When you take control of the money conversation, you take control of your financial future.”]
  21. If you don’t take risks you can’t grow. That includes financial risks.
  22. Women earn less because they ask for less. It’ll stop when we stop.
  23. Being debt-free isn’t always the most financially responsible move. Avoiding debt can also keep you broke.
  24. Whenever possible, pay your credit card in full. Then forgive yourself when it’s not possible.
  25. Check your credit score regularly. It’s free. Financial literacy starts with facing your own money stuff, however uncomfortable it may be.
  26. Unless you’ve negotiated a preferred rate, never exchange currency at the bank. Don’t even get me started on Paypal. This can cost you thousands in a single year, and much more over time.
  27. Taking time off will make you money, even if it doesn’t feel like it at the time.
  28. Asking others what they charge isn’t a good way to determine what you should charge. Pricing is tricky, and you don’t figure it out just once. You have to keep figuring it out at every stage of business.
  29. Everyone has money blocks—even the super-wealthy. They’re nothing to be ashamed of. They’re part of the architecture of our daily lives.
  30. When you resist spending money, you’re also resisting earning money. If you don’t invest in the tools and people you need to grow your business, you’ll work much harder and earn much less.
  31. Pick up the check. Your mom deserves a break once in awhile.
  32. At some point you will intentionally try to sabotage yourself. That’s normal. It means you’ve hit your personal glass ceiling. Time to build a new one. Call your coach.
  33. Celebrate! You’re doing great.

YOUR TURN! Leave a message in the comments.

What do you wish your 20-year-old self knew about money? What’s been your biggest lesson this year?