27 Oct Ready To Create Financial Freedom?
One of my favourite quotes is “A goal without a plan is just a wish’ by Antoine de Saint-Exupéry. It reminds me of how vital it is to stop just wishing for something to change and to, instead, take control and make change happen. This is particularly relevant when it comes to wanting financial freedom, as often we wish for it but never put a plan in place to achieve it!
If you are ready to start creating financial freedom, here are a few strategies that can help.
Identify the ‘gap’. Get clarity on where are at present, what you own, how much money you have and what you owe. When you know your true current financial position the next step is to identify where you want to be. For example, pay off personal loan or credit card within a year, own home in 5 years, 200K in superannuation within 3 years, a deposit for an investment property or holiday home within 2 years. Once you have these two parameters the next step is to have a plan in place to bridge the gap and move you towards your financial goals. If you find the gap between where you are now and where you want to be is overwhelming then chunk it down into smaller, more manageable ones.
Watch your money. Money is much like a puppy, if you don’t set down the rules and show it who’s boss then it will wreak havoc! Identify where you are spending your money and how much is being spent on things that can be either reduced or stopped. Look at any high interest debts you have like as credit cards and pay them off. The aim is to make your money work for you rather than you for it!
Shift your money blocks. From ‘I’m bad at managing my money’ to ‘I’m just not meant to be rich’ the old limiting beliefs can play over in your head like a broken record. Unfortunately these thoughts can lead to self-sabotaging actions, which further reinforce the false belief as true. A great exercise is identifying these thoughts and counteracting them with ones that enhance prosperity. When you catch yourself thinking them switch the thought to something that encourages money like ‘ My money works for me to create wealth’ and take action that reinforces this.
Invest in yourself and people who can help. Often we don’t know what we don’t know. If you feel stuck and are struggling to move forward yourself, seriously consider working with people who are trained to help you. Working with a coach on shifting money blocks, putting a financial plan in place and improving your financial management may propel you forward faster and with less pain and worry than if you try to do it yourself. Also, look out for workshops, seminars, podcasts or interviews that focus on teaching money management and mindset skills.
Getting crystal clear on what you want and identifying the thoughts and actions that are keeping you trapped is a powerful way of taking control of your own reality. Life is too short and precious to worry about money. Decide to take the first step forward and begin to create the life you want.