1. The first mistake they make is constantly arguing with their partner about money and getting stuck in a blaming and complaining cycle – and they feel clueless as to how to get out of it.

2. Mistake number two is barely making enough money and feeling like they’re just scraping by each month. That begin to feel resentful that they have difficulty meeting their monthly expenses and resentful that they don’t have enough money to put toward savings, retirement funds, education funds or to put towards their big dreams and goals.

3. Mistake number three is that they struggle with not be able to increase their income.

4. Mistake number four is that they end up relying on their spouse to generate the monthly income because they don’t see themselves as being powerful money creators. They tend to see themselves more as money managers and so they rely on their partners to bring in the income difference. Eventually the main breadwinner feels resentful and this puts additional stress on the relationship.

5. Mistake number five is having a business that is more like a hobby. They experience inner conflict because while they are passionate about their business they’re not clear on how to generate serious income from it. They feel like they need to buckle up and get serious about their business or give it up for good.

6. Mistake number six is that they get stuck in perpetuating money problems because when they talk to their partner about money, they find themselves becoming reactive and frustrated because they feel like their partner isn’t supportive of their business, let alone supportive of them investing in growing their business. And they feel like their partner doesn’t take their business very seriously.

7. Mistake number seven is waking up in the middle of the night stressing about where the next months income is going to come from. This creates a huge drain on their ability to focus their creative energy on growing their business.
   Getting on the same page with your partner makes good financial sense and business sense.

The solution to these 7 money mistakes is to get your personal and business financial life in order. This approach can dramatically increase business income as well as improve your financial relationship with your partner.

You can learn more about how to overcome these 7 common money mistakes that entrepreneurial women make and turn your business and your financial life around in my “Easy and Effortless Millionaire Money Secrets” 4-part teleseminar series.

You’ll also learn my “Secure Cash Flow Money System” that I personally developed and designed that will allow you to take control of your income! Get more info and sign up for this financial-life changing teleseminar series here.

Set up a bank account for your fixed expenses and variable expenses.

Set up two checking accounts at your bank:  one for your fixed monthly expenses for things like your mortgage, health insurance, phone bill, car insurance, debt payments that your paying on (car loans, student loans), utilities and your savings.  Set up the other checking account for your variable expenses: things like groceries, gasoline, dining out, recreation, clothing, medical expenses, household purchases and miscellaneous.

Refer to your spending plan to calculate how much money needs to go into your bank accounts each month.  Make it a priority to put money into your fixed checking account first and your variable checking account second.  By having two separate accounts for your fixed and variable expenses you’ll never spend money that was intended for a necessary living expense like your mortgage on a fun unnecessary expense like dining out.  This system also works well for self-employed professionals–all you do is transfer money into the appropriate fixed or variable bank account as it comes in. 

Create a spending plan based on your spending history. Look at your spending for the previous month or the past couple of months by going through your bank statements, check registers and credit card statements. Divide your spending into these four broad categories: 1) fixed expenses, 2) variable expenses, 3) debt payments (don’t include your mortgage in debt payments–instead record it under your fixed expenses. You will, however, want to record your car loan under debt payments) and 4) savings. You might not have any money going towards savings right now, but you’ll still want to retain this category to serve as a reminder of your savings goals.

Create a spending plan based on your spending history, using your four broad categories. Itemize your individual expenses below each broad category. For example, under the category of fixed expenses you’ll list: mortgage, health insurance, phone bill, car insurance, utilities, etc. Record all your expenses on the left side of a piece of paper and on the right side list your income, your partner’s income and any income from other sources, and then get a total for all your income sources.

Make sure you work your numbers until your expenses equal your income so that your income minus your expenses equals zero. If you end up with an extra $200 after you’ve subtracted your expenses from your income, don’t just leave it as an extra $200. Assign the $200 to a spending category like savings. In order for your spending plan to really work you’ll need to refer to it once a week or at the very least, twice a month. Mark out any expenses that have been paid and calculate how much money you have remaining to make sure you have enough money to make it through to the end of the month. Your spending plan should have coffee stains on it and be well worn by the end of each month!