The 5 Step System: How to take charge of your money in 30 days:
Hey Cake friends! So I have something I want to share with you, but I’ll be up front and honest and tell you that:
1 – it’s not about cake
2 – it’s only for those who kinda “get” the whole money thing, being adult about saving (no matter how you earn income, but especially if you’re a caker)
3 – I’m going to introduce you to someone you don’t know, unless you live in Australia… then you might know him.
But first, let me tell you about Andrew Woodward.
I first met Andrew through a business mastermind group I’m part of (you’ve heard me talk about these things when I chatter about business and being a successful entrepreneur) and I had a chance to spend some in-real-life face time with him when I was in Phoenix this past April. And considering he lives in Sydney, Australia, I count myself very lucky that he hopped on that plane to make it our conference!
What a lucky thing. We talked about what we do to help others through our businesses and it struck me that what he does kinda, in a round about way, might help some of my cake community.
And the reason that it struck me to share this with you is because his product is exactly what I needed, and for reasons that we all share.
So what does Andrew do? I’ll let him explain it, as he’s the expert on HIM, but here’s my non-expert-on-anything-but-Kara synopsis: he helps you understand how to pay yourself first and live comfortably forever.
That’s over simplified, but that’s what made a difference to me when I heard him talk. That’s what stood out in my mind and made me lean in and want to hear more. And the older (cringe) that I get the more these “boring adult” topics become interesting to me. They’re almost like a game, to see how big I can succeed.
And being an entrepreneur and mom, it matters that I do succeed in ways that safeguard me and my family and our future. The amount I earn with Kara’s Couture Cakes, Pro Cake University, or Aaron & Kara does not matter. I know now that it’s what I DO with whatever I earn that matters.
After listening to Andrew it all seemed too simple, but sometimes we need things stated plainly and to our faces to really feel them and take that first step.
So Andrew put a little something together for my cake friends that you might find helpful. It’s called The 5 Step System: How to take charge of your money in 30 days.
And while it’s not about pricing cakes, it’ll give you the confidence to finally charge what your worth, because your future success, survival, and longevity depend on it. Might just be that kick in the pants to fix your cake pricing without hesitation or worry.
“Thank you, Kara, for that very generous introduction.
I’m excited to be with you today to talk about money and wealth, and how you can have more of both.
I’ve been studying and researching wealth creation for more than 20 years, and would love to be able to share some of that knowledge with you today.
Now I have one request that you stay to the end of the presentation because I have an exciting FREE offer for you as a thank you for your time.
Ok, so why are we here?
I am going to assume that you’ve tried many money making ideas, started and stopped saving dozens of times, perhaps even had someone manage your money for you, but the truth is you just can’t seem to make your money last or grow.
Perhaps you’re even feeling a little embarrassed with yourself and your inability to take charge of your money. You may feel that no matter what you try, it’s not going to work.
And let’s be straight, we all want more money and to be secure in our future, right?
Let’s do a quick exercise:
I want you to write down or think about how much money you currently have saved or invested for your future.
Now I want you to write down or think about how much money you need to have saved or invested for your future.
So for example, and I’m just making these numbers up, let’s say you wrote zero for the first number, and $1,000,000 for the second.
That means the gap between where you are and where you want to be is $1,000,000. Every month that you don’t do something about this gap is costing your future self, $70,000 per annum at 7% returns (conservatively).
Ok, so now we have an understanding of the problem, let’s get into it.
I mentioned my time studying and researching what makes people successful with money, and during this work I identified 5 things that were most common and effective in helping people take control of their money and build wealth.
So I created this 5 Step System to condense this work into something simple to follow.
Any person can take charge of their money and become wealthy by following this 5 Step System, because it makes wealth creation automatic.
Now a small warning, these steps may appear basic, but don’t let that fool you…
These are life changing steps that if used consistently, will have you on the path to financial freedom faster than you thought imaginable.
And they dramatically reduce money stress, which is what you want, right?
Step One: Pay Yourself First
The first step is to pay yourself first.
You may have heard this before, but the hard reality is that 96% of the population DON’T do it.
And yet it is the number one thing you can do TODAY to take charge of your money.
Typically, you will receive your weekly, fortnightly or monthly wage, and the first thing you do is spend it on bills, entertainment, mortgages, groceries and everything else you can think of…
And what will happen is you get to the end of the week, fortnight or month and there is nothing left for you…
And you deserve to be paid right, you are the one doing the work.
You do all this work, all the hours and the last person you think to pay is yourself, crazy heh!
The 4% that have taken charge of their money ensure they pay themselves first, before any other payments are made…
Their pay yourself first money is sent to a separate bank account automatically within 72 hours of being paid.
This automation creates an incredibly empowering process that will improve your success dramatically.
Step Two: Live Within Your Means
Step 2 is live within your means.
Now I know you will have heard this one before. But are you doing it?
Living within your means simply refers to spending less than you earn.
This step, if you apply it, will ensure you safely and securely grow your wealth each and every month.
I should point out that this step requires you complete step one first.
In step two we are prioritizing where your money goes so there is a surplus at the end of each month.
This surplus guarantees your success and is fundamental to the remaining steps of this system.
Now one of the traps that can derail you in this step is credit cards.
Using credit is problematic for a number of reasons
First, you are likely spending money you don’t have on things you may not even need.
Second, and this is important, it doesn’t induce the link in your brain that occurs when you hand over cash…
There is a pain, a queasy feeling that results when we hand over cash. Do it often enough and you will prefer to avoid this pain and gain better control of your money.
Credit doesn’t induce this feeling. So it’s easy to overspend.
You need to ensure that you are spending less than you earn each month…
And make it a habit…
So you have a cash surplus every month.
Step Three: Protect Yourself
Step three is to protect yourself.
This is my personal favourite of the 5 steps…
It is often the step that is overlooked when it comes to creating financial freedom.
Most people will want to jump straight into investing to build their wealth…
But this overlooks one very important part of being free of money stress… Security
Step three is made up of three components:
- Your Emergency cash buffer
- Debt termination
- Personal Insurance
This is about setting up a safety net around you for when or if something goes wrong, such as a major health issue.
First is the Emergency cash buffer… It’s a money stress reliever.
This is where you save, in a separate bank account, a minimum of 3 months of your living expenses.
This way, if anything goes wrong where you are unable to earn an income, you have this buffer to draw on.
You use part of the cash surplus from step two to build this buffer.
Second is debt termination…
Before you get into building up investment assets, you need to have eliminated consumer debt from your life.
Things like credit cards, store cards, personal loans and home mortgages.
You will use the remaining part of your cash surplus that we identified in Step 2 to eliminate debt. The first part is for your emergency buffer.
Third is Personal Insurances…
Everybody needs to have adequate appropriate insurances.
What I am referring to here includes income protection insurance, life insurance and trauma insurance.
Each provides you with a degree of protection in the event of emergency circumstances.
Because this is a specialist area, I advise you to speak to a broker to determine your specific needs.
Step Four: Make Money Work for You
The fourth step is to make your money work for you.
Nothing is better than waking up each day knowing that you made money while you slept.
This step is where you build your wealth generator, your investments.
True financial freedom comes when you have streams of passive income that meet and exceed your living expenses.
How you do that is beyond the scope of this discussion…
But it is important to understand that you need to have a portion of your monthly surplus allocated to building assets that pay you cash flow over time.
This is after step 3 has been completed. After you have your emergency buffer.
The type of investments you will build include Bonds, Property and Stocks.
The magic of building these assets, what I call your wealth generator, is compound returns…
Just for some fun, type into a calculator $1 and double it 20 times
Notice how long it takes to get to $10,000 and then how quickly it gets to $1,000,000
This is the beauty of compounding.
This is what will build your wealth, safely and securely for the rest of your life.
Step Five: Action
Step 5 is to take ACTION
I mentioned that step 3 is my favourite of the five… Well step 5 is probably the most important.
Without action there just isn’t any results, simple but harsh reality.
Why is it so important? Let’s look at some research:
US Census Bureau data shows that out of 100 people who commenced work at age 25, by age 65:
1% will be considered wealthy
4% will have adequate capital for retirement
3% will still be working
63% are dependent on social security, friends, relatives or charity
29% are dead
If you want to take charge of your money, to be free of money stress, to achieve financial freedom and have the choices in life that you want…
To be one of the 4% – You must take action
The benefits of compounding apply to action as well, the more consistent your actions the more cumulative their effect.
We’ve heard the research but what is the incentive to take action you might ask?
Well this is the magic sauce, this is where you unlock the formula for success…
The incentive to take action is YOUR WHY… Which comes from YOU!
The formula for wealth and success is:
YOU + YOUR WHY +ACTION
Sounds simple doesn’t it…
And if I can do it, so can you.
The only thing holding you back is YOU.
If you haven’t identified WHY you want to achieve financial freedom, to have control of your money, then you will always struggle.
YOUR WHY is what drives you forward.. It motivates you, it gets you up each day.
Start today, identify an action you can take and make it happen.
And then repeat tomorrow and the next day, make action your habit.
And that is my 5 Step System to take control of your money in 30 days
- Pay Yourself First
- Live within your means
- Protect yourself
- Have your money work for you
- Take Action
These steps can all be completed within 30 days, one monthly pay cycle, and your money stress will be drastically reduced and you will be in control of you money for the rest of your life.
Now I promised you something special at the start…
So, as a thank you for your time and for Kara inviting me to speak to you today…
I want to offer you one of my 45 minute Financial Freedom Strategy Coaching calls for FREE
In this session we will…
Create a crystal clear vision for your ultimate financial freedom and the ideal lifestyle you’d like your money to provide.
Uncover hidden challenges that are keeping you from making more money and sabotaging your efforts to get out of debt
Gain a new awareness of what is causing many of the challenges with money you have right now (they may not be what you think)
And you will leave the session renewed, re-energised and inspired to grow your wealth
I will also record the call so you can reference it whenever you want after the call…
In the past these sessions have cost up to $297, but today there is NO CHARGE, completely free to you
But only for a limited time.
So to take advantage of this totally FREE limited time offer, simply click on the link below to go straight to my personal calendar to lock in your session.
Times will fill up fast, so be sure to lock in your session now to avoid disappointment.
Remember there is no charge, so there is no risk to you…
I’m prepared to invest my time in your success, and seeing you start taking charge of your money and building wealth safely and securely.
So click on the link below to my personal calendar and select a time that suits you best…
If for any reason you are not able to find a suitable time…
Just email me at:
And we will find a way to schedule you a time.
Imagine what your life will look like in 6 months, or a year, 5 years from now, as you control your money
Have a system building your wealth safely and securely…
And you are free to do what you want to do when you want to…
Without the stress of money.
What will that do for you, how will you feel, what will you be doing?
I want to help you gain this freedom and be able to enjoy life again.
So claim your FREE session now, click on the link to choose your time now
I look forward to talking with you shortly
Thank you Kara for having me today.
I wish you and your followers all the very best, and keep on caking.”