The cash flow rollercoaster

Today we’re talking about MONEY!

This topic makes many attorneys feel uncomfortable but it’s one worth discussing.

Whether you’re a solo attorney trying to pay yourself consistently or a salaried attorney feeling tied to the security of a paycheck (even if that comes in the form of golden handcuffs), our relationship with money matters.

Many of us assume that if we make enough money, there will be a point where we’ll have complete freedom.

We imagine a future where we no longer have to worry about buying whatever we want, providing the very best to our families, retiring comfortably, and being set up for life.

We all have a different number in our head as to what is “enough” but most of us believe that with enough money, all of our spending woes and cash flow issues will be alleviated.

But that’s not even close to true.

That’s why no matter how much you make, you still seem to find yourself in the same situation.

The more you make, the more you spend.

The more you spend, the more you need for retirement to keep the same lifestyle.

And it’s not just a personal financial issue.

If you’re running your own firm, you may struggle to pay the bills each month – or yourself.

It’s a constant rollercoaster that completely stresses you out.

Here’s the good news.

Cash flow is a legitimate financial issue. It’s not something to be embarrassed by or something to aim to alleviate. Rather, it’s something you need to understand and prepare for.

Did you know that even large law firms making hundreds of millions of dollars each year deal with cash flow issues?

It’s not a big deal if you know how to forecast and plan ahead. But few of us know how.

It’s not something we were taught in law school.

Combine that with the fact that most of us didn’t learn how to truly manage our personal finances growing up and…

What you get is a wealthy profession where many are living right at or above their means or feel so tied to a certain level of spending that they’d rather stay in a job or career they hate than deal with the root problem.

That’s why I’m so excited to share with you today’s Hustle & Flow podcast episode.

I invited my Mastermind sister and financial expert, Amber Dugger, on the show to talk about cash flow, profitability, budgeting, and taking control of your money.

I’ve been using her profitability system and it’s made a world of difference in my business and personal life.

If you feel as though you can never earn enough, put your earbuds in now because this is a must-listen.

Listen on your favorite podcast app (episode #106) or click HERE to listen on my website.

Best,

Heather

Professional Bio

Heather Joy Hubbard is an attorney, speaker, author, and strategic coach. Through her personal and professional development company, she helps attorneys reduce stress, manage priorities, and build a book of business. Prior to her work helping professionals find more balance and success, Heather was a partner and practice group leader at an AmLaw 200 firm. She has been recognized by Best Lawyers in America in the areas of Copyright, Trademark, Intellectual Property Litigation and Patent Litigation, Mid-South SuperLawyers, Benchmark Litigation and Managing IP Stars. She was also named one of Nashville's Top 40 under 40 by the Nashville Business Journal. Heather graduated  summa cum laude   from the University of Louisville and received her  juris doctorate  from Vanderbilt University Law School.

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