Meet life coach Holly June Smith

This feel like an appropriate time to introduce celebrant and life coach Holly June Smith. I met Holly through Instagram and find her posts and Stories really interesting. There are always great tips for work-life balance that are the perfect combination of realistic and ambitious. She has kindly shared an exercise just for this course, all about finding the base level income that you’ll need to get started…

So, let’s look at your costs. These might include:

  • Mortgage
  • Rent
  • Council tax
  • Gas and electricity 
  • Water rates 
  • Personal and property insurances 
  • Food 
  • Clothing
  • Cleaner
  • Telephone
  • Hire charges (TV, video, etc.)
  • Entertainment (meals, drinks, cinema, etc.) >
  • Subscriptions (gym, magazines, Netflix, Spotify etc.)
  • Car tax and insurance
  • Car service and maintenance
  • Childcare (if it’s not already in place – what might it cost once it is?)
  • Children’s expenditure and presents
  • Savings plan (more on this later)
  • Credit card and personal loan repayments

If you live with a partner, perhaps you are aiming to split these 50/50? If so write out a list of all your costs but divide the relevant costs in two. Then add them all up. These are your monthly outgoings, so this is your baseline income. How does that number look? If it’s high, are there any ways to cut back? Paring back unnecessary spending is following Holly’s ‘Noodle Number’ advice; you’re working out the bare minimum that you need to survive.

Are you already earning any income – from a part-time job or from benefits such as Child Benefit or Working Tax Credits? If so, add it all up and deduct that sum total from the above amount (your outgoings) and what’s left with is what you need to earn each month from your business.