Ep #14: The MONEY Word of the Year Episode

Your money word of the year is one of the most powerful catalyst you can use for growth, creating clarity about your goals, and, of course, for making more money as a coach. If you've not yet heard my money word of the year process, then you are in for a treat because your money word of the year is more than just a fun end of your game.

I use it as my number one go to tool for taking all of my ideas and desires and goals and all the things that I want to accomplish this year. Instead of slipping into overwhelm, I use it to make decisions easily prioritize with peace and calm and feel incredible about how I'm spending my time in my coaching business.

I'm Kendall. Tune in this week to discover what your money word of the year is and isn't, how to choose your money word of the year, plus five secrets on using your money word of the year to make more money in your coaching business this year. It's all here for you in this episode of The Money Coach School Podcast. Let's dive in.

Welcome to The Money Coach School Podcast. To really excel at coaching women, you have to be skilled, confident, and even fearless at money coaching. If you're passionate about women holding genuine money power and love supporting women entrepreneurs, then this is the show for you. Now, here's your host, money feminist Kendall SummerHawk.

Hello, beautiful coaches. So here we are. I absolutely love this time of year. I find myself getting so excited about planning and listing all of the things I want to do and achieve and create, all the things. Then, well, and then I start feeling overwhelmed with all of the things. Maybe you can relate.

I think it's the beauty and gift of being a highly creative person, and that being so switched on to the work I love doing in the world, which is everything coaching. Teaching coaching, answering your questions about coaching, coaching my students inside of my certification trainings.

Now, if you're at all like me, and you love possibility, you love opportunity, you love personal growth, you love thinking about what's possible, then you're probably also like me in that you can get easily overwhelmed with all of that.

So what I used to do was buy a new planner to somehow magically bend time and make it where my wealth of ideas could all be accomplished. Like that's what I figured a planner would do for me. As if that was the answer, right? Well, of course, what I ended up with is this collection of very cool planners that sit on my shelf that I never used.

Because every planner wants you to first write down your goals, which is awesome. Except what if you're like me, and you have 100 goals? Or writing them down just triggers feeling anxious because then I'm faced with a ton of exhausting decision making, figuring out which goals matter most.

One of the emotions I dislike the most is feeling that special brand of anxiety that comes from having to choose from too many options. Because I am so mindful of protecting my energy and always wanting to come from the highest, best feeling emotions that I can. Well, what I said was screw this.

What I did instead is create a very simple way of channeling all of my thoughts and ideas through a coaching tool that is my version of word of the year. Only it's not just word of the year, it's money word of the year. Who doesn't love a word of the year tool, right.

When I say my version, what I did is I took the basic word of the year concept, and I gave it a twist. I focused it on money. I kept it simple. I created a few key rules around using it, and I'll share what those are with you here in this episode. I live with my money word of the year all year, not just for a couple of short weeks during this end of the year season. The results have been amazing.

Hello focus. Hello pride in what I accomplish. Hello peace and calm because I prioritize the right things. Which is why I'm bringing my money word of the year tool to you today, and I even have a template for you, which you can download by going to this URL. You can go to themoneycoachschoolpodcast.com/14. Okay, that's the number one and four for 14. It's actually a checklist that you'll download that's going to bring all these concepts together for you in one handy place.

So I think money word of the year is one of the most powerful tools that you can use to create a highly aligned and high income business as a coach. But people look at word of the year as a fun new year's game. I didn't do that. I've always used it year after year as a primary power lever to elevate myself as a coach, elevate myself as the CEO of my business, leading from a place of sole sourced confidence and inner power, to elevate myself as a high income seven figure woman, and of course to elevate myself and my business as a freedom first business, which is important to me.

So when you start using my money word of the year, it can, number one, give you clarity and direction about your coaching business so that you're not wasting time spinning your wheels. Number two, it can support you in making significantly more money in your coaching business. Number three, it's going to support you and making every decision in your business easier and faster. Number four, it's going to help you cut out the mental chatter so that you're not distracted or doubting what you're doing.

So in today's episode, I'm going to show you what your money word of the year is and what it's not. I'm going to share with you five secrets to using your money word of the year as your primary decision making tool that comes from a place that's both strategic, of course, and soul sourced. Woven in today's episode, I have a few juicy tips and little bit of self-coaching I'm going to give you on how to choose your money word of the year.

So are you ready? Be sure to go to themoneycoachschoolpodcast.com/14. That's the number one and four, and download that checklist that I have waiting there for you. I'll also link to it down below in the show notes. All right. So what your money word of the year is.

Number one, your money word of the year is choosing a word that is tapping into intention and is sole sourced. Your money word of the year contains energy and images and meaning for you. Plus, it elevates you into who you're meant to become. This is how you become that coach for women entrepreneurs. This is how you elevate your standards, elevate your life, and get clarity on how you can achieve all of the gorgeous results that are possible for you as a coach.

Number two, money word of the year is a practice that creates results for you by Helping you release obstacles, helping you release nonproductive habits, and helping you spot opportunities and create what I call soul sourced success. Your word is meant to teach you about you.

Number three, your money word of the year becomes your energetic standard for everything you do or don't do inside of your coaching business. It pulls you forward, it opens opportunities, it eliminates confusion. It eliminates fear of missing out or overwhelm.

So let me list for you now what your money word of the year is not. Number one, it is not something you choose and then forget about. Number two, it's not about grabbing a word or worse trying to control the word. I remember one year trying to come up with what my brain thought would be the quote unquote, right word, the perfect word. The word that would magically make everything in my life and business fall into place without any effort.

Yeah, that didn't work. I was all up in my head and not listening to what my intuition was telling me. Once I just relaxed, I took a breath, I exhaled the word came. It came like in a split second.

Your money word of the year will be perfect for you because it is for you. It's not that the word itself is all that specifically significant. It's really your interpretation of it and how you're going to use it that really matters most. Your money word of the year, number two here, is it's not words of the year is one word. It's not multiple words. Having more than one splits your attention. Sometimes people say oh my word is this and it's that. No, there's no and here. It's one word. So even if you are a multi-passionate entrepreneur with lots of interests, it's one money word of the year that will serve you in all the ways that you want to grow in this coming year. You want to trust the power of one.

Finally your money word of the year does not have to be a word that initially sounds like it has anything to do with money. Isn't that fascinating? It's a word that you're going to apply to money and watch how it catapults you into new ways of thinking and taking action with money. But the word itself doesn't have to have anything to do with money.

So to help you choose your money word of the year, here's a very simple coaching question. Which word comes to you first? That's it, which word just crosses your mind first? Then what I recommend that you do is just start playing with it by answering a few coaching questions.

For example, whatever that word is that came to you. If you choose this word as your money word of the year, what do you have to let go of? So for example, one year the word that came to me was focus. I was so against that word. That's the word that popped in my mind. I kept thinking oh, that word is so boring. I want a sexier word of the year. I felt like I was going to be missing out. So I was having FOMO, fear of missing out, if I didn't choose a quote unquote better word, the right word.

When I realized what I was doing, that I was trying to force it, and I asked myself this question, if I choose my money word of the year is focus, what would I have to let go of? I needed to let go of worrying that that was the right word. By the way, that was the year, I remember now.

That was the year that I finished fully funding my retirement. Finished fully funding it. If you'd asked me the year prior, if I was going to be able to do that, I would have said no. But because my word of the year was focus, I got really focused on certain things, and I was able to do it. So pretty awesome success result, right.

Now, here's another success tip here I want to give you. Your word of the year does not have to always be a verb. It could be a self-concept word like leader or communicator. It could be a word like independence, which has been one of mine in the past. Awesome word. It could be a word like accumulating. It could be word like sales or empire. It could be a word like goals, or elevate. It can be any word you want. Those are just some ideas. I just want you to see it doesn't have to always be a verb. That's not important.

All right. So next, I want to share with you five secrets to choosing and using your money word of the year. Be sure to go and get that checklist that I have for you. It's at themoneycoachschoolpodcast.com/14, and that's the number one and the number four. It's there waiting for you, and you want to use it as your guide.

All right, secret number one. Let your money word of the year choose you. When I think of what I want my next year to be like, in a very general way I don't know specifically yet. My money word of the year immediately pops into my mind, even though I have no idea, not any idea at all, what actions I will be taking because of it. But I have strong emotions about what I want.

It's really not a great idea to try and make your money word of the year match what you want. It doesn't need to work that way. You can just think about what you want and then say what would be my money word of the year? Boom, you're going to have an idea come to you.

You're going to have a word come to you, I promise. It may not even make sense. It may not match up with what you think you want for the year. That's okay. Any money word of the year can support you in achieving what you want. I promise you, your word is going to support you brilliantly in getting what you want. So letting your money word of the year choose you is less about thinking and more about noticing what word pops up for you, even if initially it makes no sense.

Secret number two, identify what your word of the year empowers you to release. You know what you want. You have a money word of the year that popped up for you. Now let's start using it. Just notice how any feeling of fear or doubt or wanting to discount your money word of the year is actually a clue. It's a sign that there's really something underneath that you're ready to release.

So for example, a few years ago, when my money word of the year was focus I immediately became aware of how much I had been stuck in fear of missing out. Becoming aware of fear of missing out was causing me, at that time, to doubt myself, which then led to me changing my mind frequently, to thinking I should be doing other things than what I was doing, and to really thinking and rethinking and churning over every single decision.

So it was really making me have a lot of insecurity, which another feeling I really disliked feeling, and really held back my forward momentum for that year. But by staying committed to my money word of the year of focus, I started to feel calm and peaceful and on purpose, which I love. I did not get caught up in fear of missing out, and I rarely doubted what I was doing even when I was facing a lot of change that was really, really challenging. Okay.

So the same thing with another year where my money word of the year was the word elevate. I released, released, released anything that felt energetically heavy or draining. I peeled back a whole next level elevated layer for myself in my business that yes, you can make seven figures, which I had been doing year after year. But I peeled back this layer to really say yes, I can do this with less work and with more grace and ease and a ton of time freedom.

I made decisions like completing working with a coach who the woman I was working with at the time was amazing. She still is, but her whole vibe is about hard work, putting in the hours, and a very complex business model with a lot of team. That did not feel elevated to me. It felt the opposite of what I value, which is freedom. Because of that one year, that one money of the word year, my time freedom increased exponentially. Now it's just my new normal to have generous hours every single day that I spend with my beautiful Spanish horses.

What else happened because of my money word of the year of elevate was I expected the very best, and I received it in terms of vendors and team and a whole new elevated level of amazing certification students, easier launches, everything was elevated.

All right, secret number three. Do not change your money word of the year mid-year. It is money word of the year, not word of the month. There is no way you're going to get any value from not committing to living, breathing your money word of the year for a full year. You're not going to learn anything from it. It hasn't fully transformed you or your business results.

I really believe that quitting on your word of the year mid-year is actually an avoidance tactic that's a distraction, and it comes from the ego, wanting you to stay as is and avoid elevating in terms of income, impact, and achieving your goals. So stay with it. Don't change it.

Secret number four, apply your money word of the year to income creation. It does not matter if at first your word doesn't seem to fit with income creation. I want you to keep looking for how your word can give you clarity. So here's a coaching question for you. Very simple. In what way can my money word of the year influence income creation.

For example, let's go back to when my word of the year was elevate, like it was in a few years ago. It can influence income creation by choosing high ticket. That's certainly elevated. It can influence income creation by marketing specifically to highly motivated women as your new clients. It can influence your income creation by really owning your worth by elevating your coaching fees. It can influence income creation by offering a signature package so that you get known for what you coach women entrepreneurs on.

Secret number five, use your money word of the year to create new decisions, actions, goals, and habits. Turning your word from just a word and a fun New Year's game into a motivation and inspiring force for change is how you create a year that you're going to look back on full of exponential growth, a year you're going to be proud of for what you achieve, and when you look in the mirror be proud of who you've become. Your money word of the year is how you move forward.

So even if you choose a quieter word like peace or rest, it's not that you rest from work or abdicate thinking you're choosing peace. Instead it's working from a sense of peace or creating something new with rest. It's a with energy. It's that yes and energy, right.

So for example, the year money word of the year was elevate, I saw everything through the lens of elevate. So it was elevating my marketing, elevating my pricing, elevating my messaging and branding. We rebranded that year. Elevating the clarity and focus on my certification trainings.

All right, so to wrap up, let me leave you with this. Making money as a coach is not about doing more. It's not about more marketing. It's not about spending money on Facebook ads. It's not about any of those things. You making money as a coach, especially if you're focusing your coaching skills on coaching women entrepreneurs, which I think are the best coaching niche on the planet.

Always, always this starts from you giving yourself permission to think in a new way, to believe in a new way, to fully embrace and embody taking action in new ways. Those new ways must be aligned and powerful for you. Your money word of the year gives you a new lens to see through, a new way of stepping into your gifts and genius, a new way of elevating yourself that will rock your world, but in reality takes very little effort.

All right, so be sure to go to themoneycoachschoolpodcast.com/14, numbers one four, download that checklist I have waiting for you there, choose your money word of the year, and then drop me an email to let me know what it is. That email addresses podcast@kendallsummerhawk.com. I would love to see what your money word of the year is. Thank you for listening. I am so excited to connect with you again next week in our next episode. My love to you.

Thank you so much for tuning into this week's episode of The Money Coach School Podcast. If you enjoyed this podcast, make sure you follow so you never miss an episode. Also, I would so love and appreciate if you would leave a 5-star review. Your review supports women just like you in discovering all of the juicy tips and insights I'm sharing here on how to coach women on money.

And if you want to learn how to excel at coaching women on money, definitely go to KendallSummerHawk.com and check out the wealth of money coach trainings that we have for you. Thanks so much for being part of this money coaching movement and for tuning into the show every week.