As long as I have enough, it’s good enough. I would rather be happy and creative

As the cost-of-living crisis gets more severe all over the world, let me share a new mindset about money so you can hold onto your dreams while feeling secure.

I am saying goodbye to my office building this week and moving to a co-working space to save costs. And it's ok because I can save 80% on cost while getting more business support and connections. It's a win-win situation.

When you are holding on to your dreams; looking for an alternative system of living; starting a business; moving to a different country; or preparing for retirement, you need a new way to think about money so that you can feel secure psychologically.

I used to earn a high and stable income in Hong Kong and China as a music specialist teacher for British, Canadian, and American international schools. My lifestyle was very comfortable over the past 20 years, and I was able to save money for my retirement.

In 2021, however, Hong Kong changed suddenly, and I decided to move back to the UK for good. The immediate change brought me a challenge to make a viable living in the UK during the uncertainties brought about by the COVID pandemic, Brexit, and cost of living crisis.

I was fortunate to be offered a part-time contract with the Association for Coaching (AC) immediately upon my arrival and I also started my own company with the support of the International Dispute Resolution and Risk Management Institute (IDRRMI). I have also been given opportunities to apply for various funding pots to do research and community projects in the near future. However, the income I am making is still far below what I used to make when I was in Hong Kong. This made me feel uncomfortable and anxious.

Thankfully, after 1 year of making a consistent effort, my business is starting to make a profit because I found a much cheaper working space and got new clients. Although my income is still far below what I used to earn, I have enough to pay my bills. I am certain that my business will continue to grow because I am confident that the values my clients get are more than the price they pay. This is because our dispute resolution services are much cheaper and much faster than the traditional way of going to court.

Moving forward, I want to change my mindset or paradigm about money so that I can feel psychologically safe.

My OLD belief and assumptions about money

My worth is measured by how much I earn

Money is like purchasing power

My NEW beliefs and assumptions about money are:

My worth is measured by the value I offer to my client

Money is like casting a vote for the world I want to live in

My NEW Needs

Match income to expenditure

A pot for leaving my legacy

A work schedule that reflects the values of my dream

My NEW Goals:

Pursue my passions and live a happier, fuller, and more generous new life

Collaborate with others to shape the world we want to live in

My NEW Strategy:

Do what I know, what I love, and keep busy at it

Live a low-cost-high-value life

My NEW actions:

Set aside a pot for my dream plan of leaving a legacy

Create a dream plan - what I would like to do

Look at the numbers of my dream plan

Marshal my money to make my dream plan happen

If my dreams and budget do not much, then prioritize

Trust the plan

Use a money monitoring app to keep track of my personal cash flow model

Use technology to keep track of profit and loss in my business e.g., Epos or equivalent

My money motto is “Money doesn’t bring happiness or creativity. Your creativity and happiness bring money.” Sam Rosen