Episode 33: From 'Just Enough' to Surplus

Join Emily as she tackles a frequently asked question about money. This could be a starting point of your journey from ‘just enough’ to surplus.

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Transcript

I'm just telling you that what you already know, which is that there is not going to be a ton left over at the end of every month. It might feel like just enough and it might feel like just getting by, and then you're like, but why? It's $30,000 a month when I do the math on that, that feels like, you know, that's $360,000 a year.

That's a huge salary. It's not your salary. It's not your salary. So don't compare it to a salary.

Hello, beautiful souls. Today's episode is so, so good. And before we jump in, I have some exciting news to share. If you've ever wondered where you're blocking money, this is for you. I've created a free quiz to diagnose your money so you can heal them and unblock yourself to receive more money. Just go to moneywounds quiz.com and answer six quick questions to get your insanely accurate and potent results.

And if you're loving my vibe and want to work one-on-one to call in more feminine energy wealth, I would love to hear from you. You can shoot me a DM on social media or go to emilywilcox.com to learn more.

Hello and welcome back to the Em Makes Money Show. Happy New Year. Alright. Today I want to tackle a question that comes up pretty regularly. So there are women that come to me and they're like, Emily, I can make money. I'm good at making money, but I can't keep it. I don't understand. It's like the money comes in, but by the time that I invest in coaches, invest in my business, pay my team, pay my own personal bills, there's no money, and of course, because I am the queen of diagnosing and healing money wounds.

These women are looking to understand where there is a wound and how to fix this money wound. Right. And of course, I love looking at things through that lens. Absolutely. And yet what I have noticed is that the women who come with that question are making $30,000 or less. Per month in their business. And when I say making, I mean grossing.

That's the total amount of cash coming through the door. Now here's the deal, unless your personal expenses are very low or your business is. Remarkably high profits, meaning you don't pay for a coach or mentor. You don't pay any team salaried. You have super limited expenses, like maybe you know the $10 a month for your Google email account and you know a little bit of money for your website you're hosting and that kind of thing.

The truth is you are not going to feel super abundant and like you're in massive overflow. When you're at $30,000 a month or less. You're just not. , you're just not, that's not a money wound. That's math. Here's the thing, let's break it down. $30,000 comes in, right? That's gross. So let's start with taking away business expenses.

Let's say that you pay a coach or a mentor a couple thousand dollars a month. Let's say that you have a few people on your team that you pay, and maybe they're not even full-time, maybe they're contractors or they're a small salary or that kind of thing. We've already now taken that 30 K and we're down to maybe 22 K.

Now you have some additional expenses in the. Software, other things that are required to run it. Maybe you travel to clients sometimes, or you know, just other miscellaneous expenses. Maybe you pay for an office space, et cetera, right? So now you are below $20,000. Now you wanna pay yourself, right? And anything that you pay yourself is going to get taxed.

So let's say that you're paying yourself like $18,000 gross. Well, A portion of that is going to get taxed. In the US it would be close to 30%. So now that's like $12,000. Now I understand when you own a business, you may not be paying the taxes on that at the moment that you pay it. Nevertheless, you're going to have a tax bill at a certain point.

So now you're talking about 12,000. Flowing into your personal account. Again, if you have super low personal expenses, $12,000 a month flow into your personal account might be great and you might feel overflow. However, if you have. A spouse, if you have children, if you have a mortgage, now the mortgage needs to be paid.

There might be daycare or private school expenses. Those two things could be to the tune of, you know, six, $8,000 a month. We haven't even talked about groceries yet. We haven't even talked about going out to restaurants. We haven't talked about all of the miscellaneous expenses that come up. And that $12,000 could be down to poor.

Now take out a thousand dollars for groceries. You're at three grand now. Take out saving for a trip that you wanna go on in a few months. There is just not going to be a lot of money left over. Does that mean that you have a money wound, that you can't trust yourself with money, or that for some reason you're always offloading money and you can't seem to keep it around?

No. It just means you need to make. If you come to me with that question and you're making $30,000 a month or less, I'm gonna say, how can we double that? Let's see if the problem will still exist when you're making 50, $60,000 a month. If it does, then yes, there is something underlying. There's something about your thoughts and beliefs around money and your ability to fold it and grow it.

That we need to work on. And of course we can explore those things in parallel, right? Like it doesn't have to be, let's double the business and then oh, turns out there's still a problem. No, we can do both things together. But I'm just telling you that although 30,000 a month is an incredible milestone, and I don't mean to diminish it by any.

I'm just telling you that what you already know, which is that there is not going to be a ton left over at the end of every month. It might feel like just enough and it might feel like just getting by, and then you're like, but why? It's $30,000 a month when I do the math on that, that feels like, you know, that's $360,000 a year.

That's a huge salary. It's not your salary. It's not your salary. So don't compare it to a salary. You could have been in corporate America making $120,000 salary and felt like there was more abundance than your business bringing in 360,000 because we're talking about two different things. What your business brings in is gross revenue, and there are business expenses that need to go against that.

Then there's the portion that you pay yourself, which is also. Then your personal expenses, you need to go against that. So it's just math. It's just math. The great thing is it is much harder to get from zero to a $30,000 a month business than it is to get from 30,000 to 60,000. Like doubling your business is not that hard.

It's not that hard. It's not nearly as hard as whatever you had to do to start the business. So that's the good. That's the good news, but by nature of the question, it tells me that you potentially have a money trust wound because you feel inherently, like there must be a little something wrong with you and your ability to manage money.

It also tells me that there might be a bit of a self-worth wound where you're feeling like you are damaged goods. There must be something wrong with you. That's kind of like the default. Feeling well, if I don't have money left over at the end of the month, what's wrong with me? Those are the things that I notice as a coach, and if you were my client, we would be looking at those things.

I would be giving you some practices to work on your inherent feelings of worthiness and self-love, stepping into your confidence and your power. Learning how to trust yourself, not just with money, but just in general and with. And with money, and I will tell you that will make the path of doubling your business so joyous when you can do it with confidence, when you can do it, step into your power.

When you can do it leaning into self-love and self-trust, that's the happy path to millions. Cuz guess what? Once you get to 60,000 a month, 83,000 a month is just a little hot skip and a jump away, and that's your million-dollar year. It's closer than you think. I have walked this path and I can tell you it is closer than you think.

It might feel really far away. It is not from an energetic perspective, from the frequency of money. It's just they're just little adjustments. They're just little adjustments and you're there. So I think it's a really exciting time. in your life and in your business because you're just on the cusp of overflow and the only thing that blocks.

Is this feeling of I'm doing something wrong. No matter how much money I make, there's never anything left over. Those are not beliefs that we want to water and feed. We don't want those beliefs to grow. We want to weed them out. We want to look at the evidence to the contrary. And we want to build evidence and build belief around your capacity to receive more money and hold more money and be in overflow as your business continues to grow.

Cheers to that. If you have questions around this, if you're feeling stuck in your business, you're feeling stuck around money, shoot me at dm. This may be a perfect opportunity for us to work together, or it may be a perfect opportunity for me to answer your question live on the podcast. So let me know how this lands for you.

Let me know where you're feeling stuck. Let me know how I can support you. I am so committed to helping more women entrepreneurs walk the path to seven figures this year than ever before. If that's you, if you're wanting to claim this as your million-dollar year, let me know. Let me know as you're listening to this episode, screenshot it, tag me at and Em Makes Money and say, I am claiming my million dollar year and I will be your biggest cheerleader.

On that note, I hope you have a beautiful day and I will talk to you soon. Thank you so much for listening to today's show. Changing the way we think you feel and talk about Money will change the world. I truly believe that it starts with you tuning in and it spreads when you share this show on Instagram and Facebook.

And tag me at EM Makes money and you know what moves the needle the most. Taking just a minute to leave a five star review on iTunes. This show isn't free to produce, so let's multiply those dollars invested to help this show. Reach a bigger audience each week. Thank you so much for. I really appreciate it.

And lastly, if you want more connection, more M makes money style, riffs, and a safe place on the internet to talk about money, jump into my free Facebook group, the Money Club. It's linked in the show notes. Until next time, I'm wishing you health, happiness, and boatloads of money.