Jill Schlesinger is a well-known media personality for her financial expertise and has a knack for simplifying complex money topics and making them accessible. In her book “The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life,” she shares practical advice to help people rethink their financial choices and make more fulfilling decisions. This advice is particularly helpful for solopreneurs who want to align their work with their personal life and financial goals. Let’s dive into three key takeaways from her recent book that can help you build a more balanced and secure life as a solopreneur.

1. Reevaluate Your Financial Priorities

One of Schlesinger’s biggest pieces of advice is to regularly reassess your financial priorities. For solopreneurs, this means taking some time to reflect on how your money choices are matching up with your overall business and life goals.

• Take Stock of Your Finances: It’s important to get a clear picture of where you stand financially—what’s coming in, what’s going out, and how you’re saving or investing. Knowing your numbers gives you the ability to make smart decisions that benefit both your business and personal life. Schlesinger emphasizes that having a solid handle on your finances helps keep your business sustainable over the long haul.
• Align Money Decisions with What You Want in Life: Schlesinger also stresses that your financial choices should be directly tied to what you really want out of life. For example, if having more free time is a big priority, then you might want to spend money on tools, outsourcing, or resources that free you up. The idea is to make sure that the way you manage your money actually supports the life you want to live.

Actionable Steps

1. Create a Simple Financial Plan: Map out your income, expenses, and long-term goals. Make sure your financial decisions support both your business and personal aspirations.
2. Check in on Your Money Regularly: Make it a habit to look over your finances each month. Tweak things as needed to stay on track with your goals.
   Invest in What Matters Most: Whether it’s investing in new software, hiring help, or setting aside money for a future goal, make sure your spending aligns with what’s truly important to you.

2. Be Open to Flexibility in Your Career

Schlesinger is all about embracing flexibility, especially when it comes to your career. As a solopreneur, being adaptable is key—it allows you to roll with the punches, explore new opportunities, and adjust when life throws you a curveball.

• Keep an Open Mind: In a world where things are constantly changing, being flexible is a superpower. Schlesinger encourages solopreneurs to stay open to new possibilities—whether that’s trying out different revenue streams, adjusting your business model, or taking on new projects that excite you.
• Redefine Success on Your Terms: Another big point is that success doesn’t have to look the same for everyone. Schlesinger suggests defining success in a way that feels right for you. For solopreneurs, that might not be hitting a certain revenue number, but rather finding balance, enjoying your work, or having more freedom in your day-to-day life.

Actionable Steps

1. Try Out New Income Ideas: Look into other ways you could make money with your skills, like offering workshops, consulting, or digital products.
2. Stay Flexible with Your Business Model: Be open to making changes that better fit your lifestyle and goals.
3. Define What Success Means to You: Write down what success looks like for you beyond just money, and let that be your guiding light when making decisions.

3. Prepare for Life’s Big Changes

In her book, Schlesinger emphasizes the importance of planning for the unexpected. For solopreneurs, this means being ready for any big life transitions—whether they’re planned or come out of the blue—so your business and finances don’t take a hit.

• Be Ready for the Unexpected: Schlesinger talks about the need to have a plan for life’s twists and turns. Whether it’s something you’ve been planning for, like retirement, or an unexpected event like a health issue, it’s important to think ahead about how these changes could affect your finances and your business.
• Build a Financial Cushion: Having some money set aside for emergencies or life changes can give you peace of mind. Schlesinger recommends creating a financial safety net so that if something does come up, you’ve got some breathing room to handle it without too much stress.

Actionable Steps

1. Set Up an Emergency Fund: Save up enough to cover at least three to six months of living expenses. This will help you stay afloat during any lean times or unexpected events.
2. Make Sure Your Insurance Is Up to Date: Double-check your health, disability, and business insurance to make sure everything is current and covers what you need.
3. Start Planning for Retirement: It’s never too early to start thinking about the future. Set up a retirement savings account and contribute to it regularly.

Jill Schlesinger’s advice in “The Great Money Reset” offers a practical approach for solopreneurs who want to make smart financial decisions that support a balanced, fulfilling life. By reassessing your priorities, staying flexible, and planning for life’s transitions, you can set yourself up for success—not just in business, but in life as a whole. Take these lessons to heart, and you’ll be well on your way to building a business that aligns with your values and goals, while also staying financially secure.