Is there anything I need to do with my business before the end of the tax year on 5th April 2017? (UK)
Now this is the time of year accountants and financial advisersget very excited, they are also quite often busy.
It is all to do with Tax Allowances, which I know sounds really boring but it is essentially the government’s way of encouraging us to do things , like savings and pensions and other things like that.
So before you glaze over and switch off. I have made it as simple as possible. So you can start your journey of understanding these things, because they are important and will provide for your financial future.
Let’s face it, most of us don’t get up in the morning going yeah! Let’s sort out our savings and pensions and tax allowances, how exciting!
So simple, so clear, let’s go.
If you bring home to you, less than £11,000, from all your jobs and businesses. That’s £11,000.
Here are my suggestions to consider.
Putting some money in an emergency savings account – you know it is important, well now is the time to create or add to your emergency savings.
To check your eligibility for the state pension, before you go ‘nooo, not relevant’ and dismiss it.
You only need 30 years of national insurance now to be eligible and if you are self-employed, it is actually a really good investment.
One they are probably going to change in a few years, so worth looking at this year.
This is the one thing I recommend you do – get a statement from the government on where you are with your state pension. click here to apply
So check out your state pension as it is a very good investment particularly when you are self-employed.
Married Couples Allowance
I know it sounds archaic but was brought in by David Cameron and not of lot of people know about it.
It will give you £220 a year, so worth considering. You can just apply online.
You are eligible if one partner is earning less than £11,000 and one partner is earning over £11,000.
Maggy Whitehouse is a specialist on money and spirituality based in the U.K.
Describing herself as a prosperity consciousness mentor, Maggy has written many excellent books on money, spirituality and religion whilst also being a BBC Journalist and stand up comedian.
Jenny will be back next week as usual.
So what is prosperity?
Whenever people come to workshops around prosperity consciousness,
usually there is a spiritual group of them who have a little bit of an issue about whether or not it involves money.
It is OK to say you want happiness and health and the world to be healed and all war to end but actually to put your hand up and say, er I’d like a bit of money too seems to be quite a difficult thing.
In prosperity conscience training money is purely an energy.
The truth is if we are struggling around money, we do want more money.
I actually get people to close their eyes, put one hand over their eyes, put there arm up in the air in a fist and then I say, ‘now nobody can see you, everybody who would like some more money in their life, just raise one index finger, and they all do’
There is this huge inner training that mostly comes from 2000 of misunderstanding Christianity that believes if you are spiritual, it is kinda wrong to be rich.
think on this, you can’t give from a place of lack, you can’t help from a place of emptiness, you can’t teach someone else to fish if you don’t know how to fish.
It is perfectly OK, spiritually right and perfectly good to be spiritual and rich.
So if you can, just be aware that the only reason you are not, it is because of this inner belief that somehow it is wrong.
Making money wrong isn’t going to help the law of attraction and if you think that people with money are wrong that is not going to help the law of attraction either.
These are all ego thoughts, making someone else wrong is kinda of an excuse so we don’t prosper.
Learning to teach prosperity consciousness is not selfish, it is the most unselfish thing you can do.
If you can learn prosperity consciousness from all the wonderful resources on YouTube, especially the Abaham Hicks ones which are my favourite and you become prosperious and wealthy, you can teach others to do that same.
I can teach 10, those 10 can teach 10, who can teach 10 , who can teach 10 and that will be the end of the world poverty consciousness issues.
Jenny will be back next Thursday 9th March at 8pm with a
mainly I focus with Money Coaching on bringing money in,
so when someone brings up debt half way through a session, I know it is probably a little more serious than they are letting on,
so I recommend taking dramatic action.
My 2 steps are:
Firstly: Dramatically, drastically reduce all your expenses
This does involve having really horrible, embarrassing conversations with people, about getting out of things you have committed to, that are awkward and emotionally yuck.
Remember that yucky feeling is what will stop you going into debt again. Breathe.
I did say they were dramatic.
Secondly: Get a part time job
All my clients are in business and we try and get a quick win on their business or schedule a follow up session.
The reality is sometimes businesses go through peaks and troughs or they just take longer to make money that you expect so getting a part time job does at least bring in some income, which does make a difference.
Now these are quite dramatic solutions, and the reason is to try and shock people out of denial, into dealing with their debt.
Often there is someone in their life they can talk to but they haven’t because they are too embarrassed.
After a conversation with me! They are much more likely to do that and come up with a less embarrassing, less awkward situation.
So it is about getting out of denial and into action because once you are in action, the worry and the stress just calms down quite a lot.
It can be done and all my clients who have followed this advice have got out of debt and none of them have got back into debt.
So I know it is a difficult subject and I wish you the best with it.
Probably one of the most popular questions, although people to tend to put it more subtly.
I would like to grow my business
I should pay off my overdraft
I need to solve my immediate concern
So today I am going to give you one method of doing just that. It is only 2 steps, so if you are ready?
Step 1 Give yourself permission
Step 2 Take action
Give yourself permission, then take action and you need to do it in that order.
Let me give you an example:
I was working with a mother who ran a very successful business.
When she decided to go part-time, her income crashed. She couldn’t understand why?
We had a conversation and she realised that she had been a tad condescending
about mothers who worked part-time. Thinking they weren’t really serious about their business and didn’t make much money. So that is where she found herself.
Obviously that statement isn’t true in all cases, people have different opinions.
What she did is give herself permission to earn her professional rates, however many hours she worked. She went back to work, took a couple of actions and within a couple of weeks was back earning a good income.
So that is the way, give yourself permission and then take action.
Now I know if can be difficult to see inside your own head!
Talk to a friend or partner if they are positive about money, as they can usually see things you can’t.
Alternatively, write a letter to money, there is a template on my website.
Email me to book a confidential conversation about money