'I blew a $62K inheritance in a year. This is exactly what I spent it on.'

When I was 23 years old, my life took an unexpected turn. Inheriting just shy of $62,000 from a late great-aunt felt like I just won the jackpot. 

It was the game-changer that landed in my bank account during my shift as a Subway 'sandwich artist'. I worked casual shifts here to hustle the dollar as I studied full time at university because I was the perfect definition of a broke uni student.

It was the first time my online banking displayed five figures before the decimal point. I was so excited and extremely uncomfortable. I had never had this much money before. I immediately started thinking of all the ways in which I would use it, spend it or save it.

Watch: The money lessons your parents told you and why shouldn't follow them. Post continues below.

The "good girl" conditioning in me was like the angel and devil on my shoulder, one side telling me I should save it, whilst on the other I should pay off debts. 

Then the rebellious side of me was already thinking of all the ways I could spend it or give it away to people I loved.

The truth was, I wasn't energetically prepared to hold on to that money, a realisation that would only dawn on me years later during my own transformative journey of money healing and coaching.

So the first thing I did was give money to my then-boyfriend (now husband) to clear his credit card debt, I jetted off to Thailand for breast implant surgery (zero regrets as I love my boobs!). I wrote off my car in a car crash and conveniently had the funds to buy a new one. I want to say I remember paying off my own maxed-out credit card, and even if I did, that didn't last long as I hadn't cleared my compounding credit card debt for a further five years.

Despite initial intentions to save, I watched in disbelief as the $62,000 dwindled to $15,000 within a year. I dipped into it consistently, seemingly unable to resist the allure of spending, with a mysterious $30,000 unaccounted for.

Back then, if only I knew what I know now - the importance of healing my childhood money scarcity, the power of managing money as a wealthy person, and the art of raising my vibrational frequency with money. It's all part of my journey, a journey that once embarrassed me.

Fast forward six years, and my life has transformed. Life-changing experiences from investing in the coaches and courses I needed, had taught me the secrets to managing money, reprogramming my mind for abundance and finally believing that I am good enough to have money and build wealth. I seamlessly saved my first six figures in savings and seeing five figures or more before the decimal is more than comfortable for me. 

Here are the top three things I did that took me from being broke, embarrassed and financially stressed to feeling financially stable, abundant and having more than enough in my bank accounts:

1. Stop budgeting.

If I were to tell you that you have to start following a budget, how does that make you feel? Restricted? Icky? Is your inner rebel wanting to already go out shopping? The energy behind budgeting is restrictive which opposes the feeling we all want… free! The best thing you can do right now is to remove this word from your vocabulary. Refer to your money management as something that empowers you.

2. Have specific bank accounts.

Money flows to where it is organised most. You have separate categories of spending so have separate bank accounts to match so you can stay on track with all your outgoings. You also want one account for your income so you can delegate it out from there and avoid any money leaks from pesky direct debits you forgot about.

Listen to What The Finance and learn why you need different bank accounts and the practical ways you can make a difference in your financial situation. Post continues after audio.

3. Make sure all your money is allocated.

You receive income, this equals 100 percent. So you need to make sure you allocate the lot to the designated categories and accounts. If you keep money sitting in your account with no purpose, it will end up getting spent. How many times have you had leftover money from your income and you know you should save it but you leave it there, you are excited to enter your next pay cycle with money still in your account and then you get a spontaneous invite out to lunch? 

You think to yourself, 'Oh well I have that money sitting there so I can afford lunch,' and then later you feel guilty that you should've done something better with it. Therefore, you make sure you have allocated all your money to where it needs to be saved or spent, so you are in control.

These three steps will make a huge difference to your financial position and you can start to let go of the guilt, embarrassment or stress around money. I now teach ambitious women how to stop spending more than they are earning, get out of debt and start creating their path to financial freedom, so they stop feeling like they are not enough. 

The past is just that – the past. But you can grow from it. Transform your relationship with wealth and money; it's never too late. And if you want the quickest and easiest way to escape financial frustration and welcome more money, savings and overflow within your bank accounts, then get your hands on your free copy of my 5 Steps To Creating Financial Freedom In Your Current Budget eBook.

Feature Image: Supplied.