A few weeks ago I sat down and interviewed Elizabeth Ralph on the Change by Choice podcast. As a Head Coach for James Wedmore, Elizabeth and I met during an online BBD (Business by Design) training in 2020. Elizabeth is a money manager, a high-level business coach and the founder of Financial Story - the place where entrepreneurs transform from unsure investor to bad ass money manager. Elizabeth shared with us her story of going all in, and retiring at 39!!! You read that right, 39 - and now she helps individuals create their own version of financial freedom, starting where they are, with what they have.
To listen in on our conversation (Episode 81) CLICK HERE
She is an absolute wealth of knowledge, and the conversation around money was so enlightening that I wanted to share some of the highlights and lessons with you.
1 - Your mindset around money is preventing you from becoming wealthy
Have you ever thought or said:
That’s too expensive!
I can’t afford that!
Money doesn’t grow on trees!
In our interview, Elizabeth spoke about how we all say or think these things, but we don’t catch ourselves often enough to ask the more important questions:
“Who is saying it is too expensive? Is it the story? Is it the story that you got when you were five - because your mom or dad said it was too expensive? Is it the way that people are going to perceive you if you buy that? What is too expensive?
And that is where we start to really limit ourselves. And we're actually limiting our own abundance by even doing that.”
But how do we shift this way of thinking?
By becoming closer with our money. Elizabeth explains that when we keep our money at an arm’s length, our money keeps us at an arm’s length - but when we develop a close relationship to our money, then we always know where we are at, and when we know where we are at we can make choices that aren’t based on the fear of something being too expensive. And this ultimately creates more wealth and abundance in our lives.
2 - Start NOW
Have you ever thought that investing just isn’t for you? That you’ll start once you reach a certain level of income? That it is just for the rich? Or you want to invest, but don’t know where to begin?
Well lucky for you, investing has never been easier according to Elizabeth. It really is as simple as typing in the search bar “open and investing account” and then doing it. Elizabeth spoke to us about how the finance world has made money management seem much more complicated than it is - but with new up and coming apps, and online platforms, the veil is finally being lifted. One of her biggest hopes is for people to realize that there is no longer a wall between them and investing.
AND…
You don’t need millions of dollars to do it. You can start where you are, with what you have - in fact, you should. There is no time like the present, and the only way to become an investor is to start actually investing:
“If you can't go out there and spend 10 minutes to open an investing account, and automate $20 a week, then stop blaming it on not being an investor, or that the market is too high - because there's something else bigger going on.”
3 - Healing your relationship with money is part of you spiritual journey
Many of us hold onto beliefs around money from our own experience, or the experiences of those in our lives (see point 1). The issue with this is that it creates a story around money that isn’t inherently true. When we hold onto these beliefs around money, we not only prevent our own abundance, but we limit our capacity to expand in relation to our money.
Elizabeth spoke to us about how we must heal our relationship with money as a part of our spiritual journey - but oftentimes there is a disconnect. As human beings we naturally want to evolve - go further, let go of what we no longer need, shift our beliefs - in order to open ourselves up to something bigger. However, this is the exact opposite of what we do with money.
Instead our thoughts around money become wound up like a tight ball of yarn - maybe we haven’t made good decisions, or we are judging where we are at - either way we don’t want to look at it closely, we don’t want to unwind that ball of yarn, to unpack what isn’t working, to uncover what thoughts are holding us back, and to heal our experience with our finances.
But when we can combine our manifestations, visualizations, all the things we feel around our money, with the practical tools and information that is out there, that’s where the magic is according to Elizabeth. We can create a space of calm and ease around our finances - but like any growth, it takes time, energy, and a bit of discomfort to get there.
4 - Money management doesn’t have to be scary
In fact, it should be FUN according to Elizabeth!
She spoke to us about the possibilities of getting creative with your money, and making it playful:
“We make fun. We kind of gameify money, to be honest with you. Because why not? Why does this have to be some stodgy, you know, not fun thing?”
Elizabeth explains that when an individual brings creativity and intuition to the table (combined with the practical tools and knowledge) they end up getting better returns. Investing is a game of not just reading what is happening on the surface, but reading between and beyond the lines - and that is where intuition comes in.
Moral of the story, having fun with money leads to above average results.
Elizabeth’s company works with individual’s, like you, who are looking to rewrite (or maybe write the first draft of) their Financial Story - you can find Elizabeth on instagram (@elizabethralph) or by going to her website myfinancialstory.com.
To listen in on Episode 81 CLICK HERE
Thank you for the incredible conversation Elizabeth!