Your net worth does not determine your self worth. Your valuables do not determine your value. Money has NOTHING to do with your value as a human. Period. Please understand this.

Money is a tool, an exchange measure of trade, a flow of energy, an inanimate object that has taken many forms over the years as a way to exchange goods and services (i.e cows, corn, coins, paper and recently digital currency).

Somewhere along the way however, we have mistaken the amount of money one has for the amount of value they offer. In doing so we have made money more important than human life itself. The fact that we bring no money into this world and we cannot take any with us to the next, is a great reminder that we are all created equal and money has nothing to do with one’s value.

When we mistake money for our value it is very easy to get trapped in the lust for more and materialism. We are fooled into believing that the car we drive, the clothes we wear, the vacations we take, or the size of our home defines who we are and how much we matter.

When you see money for what it truly is, it changes what you do with it and it releases its grip on your identity.

2. MONEY IS A LOT OF THINGS BUT IT’S NOT A MARKER OF YOUR SELF-WORTH.

I cannot do this principle justice in a paragraph, so my hope is to only tweak your curiosity so you will do your own research on this timeless principle. Even if you don’t believe in God, you may agree with the next sentence. Our society is built on a scarcity belief: the belief that there is never enough and thus more is better, so it’s up to me to fight for my piece of the pie before it’s gone.

This prevailing thought is at the core of our monetary system and when you start to look, you see it everywhere. It’s a belief that drives societal behavior and I believe the results are widening the gap between the elite rich and the working poor.

Instead of a model of scarcity, God created a model of sufficiency. We have forgotten a truth from long ago that God is the one that gives us the ability to create wealth (we are each given our talent, health, brain power, energy, ideas, etc) and that through him all of our needs will be met. We can trust in His sufficiency.

I encourage you to put this principle to test. Start by observing the world around you - nature is a great example of sufficiency and abundance. Scarcity is a very difficult mindset to break, so be gentle on yourself and start with awareness.

When you start to understand this principle it reduces a lot of the fear and anxiety that many people hold in their relationship with money.   

3. GOD GIVES YOU THE ABILITY TO CREATE WEALTH AND THERE IS MORE THAN ENOUGH FOR EVERYONE.

4. CONSUMER DEBT IS LIKE A BALL AND CHAIN.

If you want to win at the money game you have to know what the prize is and how to win the game.

There are two reasons why cash flow is the ultimate goal. The first is obvious; we all need a flow of cash to cover the cost of living. The second reason is that your cash flow determines your ability to build wealth. You’ll lose every time if you spend more than you earn. Money is a tool that can be used to create more money (ie. the power of compound interest, investing, creating passive cash flow through real estate, etc). If you spend all of your money, or overspend it, your money cannot go to work for you. Instead you end up going to work for your money.

This timeless principle reminds us to focus our attention on cash flow when making financial decisions. It also reminds us to diversify our income and create multiple streams of income so that if one tap shuts off unexpectedly, the flow of cash would not stop because there are other taps still running. It’s important to have several streams of income to ensure you have a cash flow stream that is continuous.

Bottom line, to change your financial situation you either have to earn more, or spend less so that you actually have a flow of cash left over to put to work to build wealth. It’s your choice how you play the game of cash flow!

5. THE ULTIMATE GOAL IS CASH FLOW.

No one will ever care more about your money than you do (except maybe your kids :)) For this reason alone, it’s important that you take responsibility for your financial situation and the first step is awareness.

Don’t worry, you don’t have to be good at math, there are calculators for that. The role you play as CFO is two fold. The first part is knowing what your financial numbers are. Regularly checking in on your spending, saving, investing, and changes to your net worth.

The second role is managing your money. This means taking those numbers and then comparing them to your goals and adjusting where needed. Sometimes the easiest way to do this is by setting your goals and following a simple, yet proven formula: Save 10%, Give 10%, and Spend 80%. Take the time to set goals for your personal cash flow and determine the multiple streams of income needed to meet that goal.

You can get started with this principle today and all you need is a pen and a paper to start writing down your numbers and then tracking them. Don’t make excuses any longer, step into your role as CFO of your life.

6. YOU ARE THE CFO (CHIEF FINANCIAL OFFICER) OF YOUR LIFE 

Automation is the best offense against ourselves. When you set up automatic savings directly from your paycheck or bank account it becomes easier to build up a nest egg because you won’t miss a month due to your forgetfulness or from your lack of willpower! Same goes for bill payments. Set up automatic payments directly from your account so that you never miss a payment and get hit with late payment fees.

Here’s a simple example of automation that can help you avoid spending money you don’t have at Christmas time: In January of each year, determine the amount of money you want to spend at Christmas time. Take that amount and divide it by 12. In January set up an automatic savings account for “Christmas spending” and automatically transfer the monthly amount into it every month. For example, If you want to have $1200 to spend at Christmas time, then in January set up an automatic savings account that pulls $100 every month automatically from your everyday account and saves it into a special Savings Account called “Christmas Spending”. It’s easy to find a no fee, or low fee online banking account you can use to do this. Just imagine, starting your holiday shopping knowing that you already have the cash to pay for your gifts ahead of time.

 As much as we like to think we have strong willpower, given the right environment with temptations, our will power isn’t always strong enough. Avoid temptations and let automation take care of you.

7. TAKE YOURSELF OUT OF THE EQUATION TO WIN.

Giving unlocks the grip of a scarcity mindset. In fact, research has proven that giving leads to more wealth. Research by social scientist Arthur C. Brooks revealed that people who give more make a lot more money than those that don’t. This isn’t the primary motivator for giving, it is the result.

I believe every human has a desire to help others and to make a contribution to something that matters. This is the true motivator behind our desire to be generous.

However, we get stuck because of our scarcity mindset which creates excuses (or fear) of not having enough to be able to give. This unfortunately robs us of the privilege and joy of helping others.

When we realize that giving can include giving of our time, our talents and/or our treasures we start to see the possibilities and the sufficiency in having enough to give.

Some of the wisest money mentors I follow have a personal standard of giving 10% of their income away every year and many give more.
If you still don’t believe this principle, speak to the most generous person you know, and ask them if they find this principle to be true.

8. GIVING IS THE KEY THAT UNLOCKS THE SECRET OF WEALTH.

No matter what age or stage of life you are in, change is inevitable. This is true in the world of money too. The principles remain the same, but the tools, techniques or tactics can change. This is why you want to continue to learn.

As you move through the different stages of life you will have different goals which require different tools and tactics. Examples of different financial goals based on your stage of life are: career growth, house savings, school savings, retirement savings, wealth creation, philanthropy, or estate planning.

As technology intersects every faucet of life, it’s easy to see it’s impact on money. For example, have you seen changes in the way we do banking, pay bills, exchange money, and in money itself (i.e cryptocurrency)? Of course you have, change is one of the only constants these days.

This is why it’s important you continue to learn about money along the way so you can stay up to speed. An easy way to do this is to read a new book every year on the topic of money and watch how that improves your financial literacy over time!

9. BE A STUDENT OF MONEY FOR LIFE.

You may be in charge of your finances as CFO, but that doesn't mean you have to do it all alone. In fact, you’re more likely to succeed if you have a group of trusted advisors that you can go to for guidance and direction.

There’s a wise proverb that says “without counsel plans fail, but with many advisors they succeed” (Prov 15:22). I can vouch personally for this one as I’ve learnt the hard way by having my plans fail!

Here is a list of Advisors I recommend you consider (not in any particular order):

Accountant - mandatory if you are a business owner. Personal and Corporate Tax returns, Tax advice and planning, Business accounting advice.

10. SURROUND YOURSELF WITH A TRUSTED TEAM OF ADVISORS.

• Bookkeeper - a huge help for business owners
• Lawyer - Wills, Estate planning, Business legal matters
• Insurance Advisor - Life, Disability, Home and Auto, Health, Business insurance
• Financial Planner - investment strategies and retirement planning
• Money Mentor or Financial Coach - for guidance and mentorship on both personal or business financial matters. A mentor can be the first person to turn to when you don’t know where to start with managing your money. They do not sell financial products.

One of the best pieces of advice I was given years ago was to put people around you who are smarter than you in areas that matter. I have found building a team of trusted advisors takes time, but the relationships and the wisdom you gain are worth the wait. Don’t try to do this alone, find trusted advisors and build your winning team.