Table of Contents
Have you ever noticed how when good things come your way, more follows? If you want to attract more, it’s really important to start paying attention to all of the amazing abundance coming into your life. I learned and adopted this concept when I was in Denise Duffield-Thomas’ Money Bootcamp. Be it money or value, Denise urges you to show gratitude for literally everything that comes your way.
She tells the story in her books, actually, about how she managed to manifest and attract free holidays and other things of huge value. When she realised that she was attracting mostly freebies, she began to make changes in order to bring more money into her life. And what’s important to realise is that she only became aware of this because she was tracking her income.
It’s a really interesting concept, and one that I tend to fluctuate between doing obsessively or not doing at all. However, I’ve recently started doing it more regularly, and I think it really does help you to see what’s going on. And when you do it for the first time, it can be a real eye-opener.
How To Track Your Income
Before I talk about why you should track your income, here are my tips on how you should track it, with a couple of suggestions below.
Use an App to Track Your Income
Denise Duffield-Thomas has an iOS app available, which allows you to track literally everything that comes into your life. You can set yourself an income goal every month, and you’ll get a little “cheer” notification when you’ve reached that goal. If you don’t quite make that goal, then you track it again the next month until you do.
There are two aspects to this. One is money, so you track things like your job income; business income; rental property income; dividend income you might have from stocks and shares; royalties, and any other kind of monetary value. A tax refund from HMRC, for example.
The second aspect is value. This includes tracking, freebies, discounts, gifts you’ve received; basically, anything that comes into your life that’s not actual money but has a value to it. Don’t worry about being exact with this; it’s not accounting so it doesn’t have to be in precise pounds and pence. It’s just to give you an indication of the value you’re receiving in the form of your free gift.
You might have a discount coupon for something and had the money back. You’ll be pleasantly surprised by the number of freebies and discounts you receive, which you’ve not previously noticed.
Other Ways to Track Your Income
If you don’t have an iPhone for the app suggested above, the best thing is to start off either by logging it on your phone, on a spreadsheet, or even a notebook. Track as regularly as you can. It doesn’t necessarily have to be daily, although this does help make it easier. You could do it on a weekly basis.
Make a point to track all money or items of value that come into your life and add it up each month to get an idea of how much abundance you’re attracting.
Why Should You Track Your Income?
Tracking your income is so important if you want to improve your financial situation. It can help you to reach income goals, and it’s good for your mindset.
How to Reach Those Income Goals
Tracking your income is especially important for reaching a particular income goal. Let’s say you want to make an extra £100 a month through side hustles, or you want to make an extra thousand pounds a month through a business.
By using a tracking app, spreadsheet or notebook, you’ll be able to see immediately how close you are to your target. So, if you find you have several days where there’s no income or anything of value showing up, you can see straight away that you’ve got some work to do.
If you’re hoping to raise an extra £100 per month, what could you do to achieve that? Thinking in this way really helps to push you in the right direction. There are plenty of money bloggers who actively track any income they receive. For example, dividend payments from their stocks and shares; value from supermarket apps in the form of discounts; receipt apps, etc.
On their own, these things don’t seem like a lot. Perhaps one month you only make £5 from one particular side hustle. But when you combine that with the 5 other income sources, you begin to realise the value from the effort you’re putting in.
Identify Your Income Focus Areas
Tracking helps you to see if you’re on track or if you need to try something different. If your goal is a higher business income, tracking is really helpful in identifying any gaps and highlighting where you need to focus. You might feel really “busy” in your business, but not actually bringing in any income. In which case, what could you do to change that?
Setting income goals and targets is really helpful. You might not hit that target for months, but if you stay focused and make any necessary tweaks, your efforts will be reflected in the tracker. That’s when you realise it’s working.
Boost Your Money Mindset with Income Tracking
You might wonder what the point is to all this. Others have argued that all they’re doing is bringing in an income from their job. But by tracking the abundance coming into your life, you find all these free and valuable things add up, and it gives you a real boost. There will be so many things that you hadn’t even accounted for.
Like a bargain buy in the supermarket in the form of a generous discount. Or perhaps there was something you desperately wanted to buy, then found it for £100 cheaper. Maybe a friend bought you a coffee or a slice of cake. All of these things add up.
Acknowledge Abundance to Attract More
Abundance is all around you. Actually, you are attracting and manifesting all the time, but not necessarily acknowledging it. It might not look like pounds and pence. It could be in the form of a bunch of flowers.
But acknowledging everything of value that comes into your life not only makes you feel good; you’re also thanking the Universe for providing this for you. Personally, I believe there is a higher power, or source, that helps us to co-create what we want in our lives. Whether you believe in God, Allah, or another source, showing gratitude and becoming aware can help you feel more abundant about life in general.
When you find an old £10 note down the back of the sofa, or in a drawer, consider them little gifts from the universe, and acknowledge them.
It doesn’t matter whether you’re into this kind of thinking, because it really is helpful to see that there’s more coming to you than just your income. Abundance is all around you, you just have to see it.
Some of the people in The Female Money Doctor community use wealth tracking to add to their savings. When they find something discounted, they track the discount amount. For example, if it’s a £5 discount, they put that money into their savings account rather than spend it.
It’s a really good idea to track the value coming into your life and converting it to cash where you can, by physically putting that money away.
Want to Do More?
This is just one of the many things I teach in The Prosperity Plan Academy – a 12-step program that helps you to. take back control of your finances. To find out more, click this link.
See you soon!
If you enjoyed this, why not try: