I talked a little bit in this previous post about my wealth tracker. I wanted to make a separate post about the tracker to give more detail because I think it’s so incredibly important for all women and especially female entrepreneurs. It’s been one of the foundational principles that have allowed me to increase my income and to really turn my finances around. Get your free copy of the Wealth Meets Wood Wealth Tracker.
Why should you track your income?
First, what you focus your energy on expands. Just being conscious of the money and value you receive daily will increase the likelihood you’ll receive more. Wealth creation starts with mindset and being intentional.
Second, so you can see how abundant you already are. A lot of times we have stories around money like “I don’t make enough” or “I have to work hard for money” but if we look at the reality that probably isn’t true.
Third, it can show you patterns that you might not have noticed. Like do you always trade an hour of your service for a free Reiki session from a friend? Is that the best use of your time? Wouldn’t it be better to just pay your friend for her services and she pays you for yours? That way you both feel free to engage each other’s services when you want them and not feel obligated to.
Last, when you see what you’re actually receiving you’ll be more inclined to show gratitude for it. What you’re grateful for also expands. Once you start saying “Thank you Universe for the abundance you are providing” you’ll start seeing even more show up.
What is the Tracker?
It’s a place to track and record the money and value you receive on a daily basis. You can track business and/or personal income. It is not for tracking expenses. It is NOT an accounting system nor does it take the place of one. You don’t share it with your CPA or your accountant. You don’t have to share it with anyone. Use it to become more aware of your abundance and what you are already bringing into your life that is money or has monetary value. It shouldn’t be a source of stress, merely a source of information. Knowledge is power so the more you know about your finances, the more power over them you have.
How Do I Use It?
The format of the tracker is a Google Sheet. It’s super simple to use, so don’t be afraid of it if. I’ve done all the calculations for you, you just have to type in the amounts. There is one tab for each month and you track every single bit of money or value that comes in every day. You track actual money that you get in one column. Then in a separate column, you track everything of value that you receive.
You only track your own income (personal and business). This is so you can see exactly what you personally are manifesting. For this exercise don’t include a spouse or partner’s income unless it is something you receive jointly like a tax refund.
Some examples of money I track: checks/transfers received as client payments, gift cards that have a cash value, that $20 I found in last year’s coat, the penny I picked up on my morning walk, the $1.50 Amazon credit I received for delaying my delivery. Anything that I can spend like cash.
Some examples of value I track: savings on groceries from my store saver’s card. Discounts I get from things I buy on sale. The value of bonuses for online programs and courses I buy. The savings on medicines and doctor’s visits that our health insurance affords us. The free lunch my friend paid for because I paid last time.
There will be days when you don’t have anything coming in. If you see several of those days in a row, it can be a bit motivating because you’re like, Hmm, what can I do going forward to make sure that I’ve got something coming in on these zero value days? Your entrepreneurial brain will start working on your behalf.
To find out how to get even more out of the Wealth Tracker, see part 2 of this article – I’m Tracking – Now What? In this section, you’ll learn about how this simple tracker helped to change my life.
PS – The Wealth Tracker is an expansion of an idea I first got from Denise Duffield-Thomas. She is an amazing money mindset coach. If you haven’t read her book Get Rich Lucky Bitch, seen her Money Bootcamp course or her Chill & Prosper Podcast you should definitely check her out.
