HOW TO GAIN MOMENTUM WITH YOUR FINANCES
If what comedian, Chris Rock, said is true, “wealth is having options,” then money is having resources. And resources plus options puts you way ahead of the game in life.
Truth is … financial freedom is the dream of many. Unfortunately, not everyone knows what it takes to “get money.” But we see country-hoppers who flaunt their best life on our Instagram feeds. The ones who brag about dropping everything to jet set to London or Johannesburg because they found a cheap flight.
It’s a luxury most people will never experience. And, it’s one I didn’t think possible for me.
But, once I realized that being financially prepared for anything sets you apart from the pack and upgrades your life, I was motivated to get myself together.
You see, what saved me from living paycheck-to-paycheck and being in debt up to my armpits was getting serious about managing my money better and sticking to budgets no matter what temptations came my way.
Now, I want all of us to live big lives and do great things, so listen up because these three simple practices kick-started my momentum to boost my financial profile, and if done habitually, can level-up your finances too.
Way #1: Match Your Goals with Milestones
Writing your goals down on paper activates the left (logic) and right (creative) brain, prompting it to commit that goal to memory. Next, put it to a timeline. For example, by next month I will secure four speaking engagements.
Now, let’s work backwards. What do you need to do to book four speaking gigs? Put together the micro-goals that build up to your main goal. Work these steps repeatedly to form habits that become regular behavior and BOOM your momentum is in motion.
Way #2: Know What’s Coming In and Going Out
When’s the last time you made a budget? I get it, budgets are cumbersome and scary. You don’t actually want to know what you’re spending money on, just as long as you don’t go in the negative, right? WRONG! Let’s get clear on the purpose and potential of budgets.
A budget is a plan for your money. You can anticipate what bills you pay, what you spend the most money on and how much you save or invest. Planning helps you stay consistent. And consistency is the mother of mastery. In preparing to budget, you need to get real with yourself and ask some gut-punching questions, such as:
- What changes do I need to make?
- Where can I cut back on spending?
- Are there opportunities for additional income?
Now if tackling this still seems intimidating, identify people in your network who are good at money management or locate financial advisors who can assist.
Way #3: Take Bite-Sized Steps
Building financial freedom is a life-long journey. That means you don’t have to sit down and try to plan out every dime you’ll spend throughout your life today.
Start by setting a few achievable goals – goals you can stick to – and watch your money grow. After you get a few financial wins under your belt, you can get more aggressive with your strategy to build financial freedom.
Now, the overall time it takes you to reach your financial goals is less important than the consistent progress you make to stay on track with your finances.
Remember, slow and steady wins the race.
After reading this blog, what’s ONE thing you plan to do to turbocharge your financial freedom? Contact us and let us know how we can help.
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It’s all about the bounce back! If you think you’re in a rut in life and your finances have you stressed and depressed, there is a way out. At Life Happens, we’re here to support you, motivate you and show you that you have what it takes to get back up and start again.
Find out how we’ll get you unstuck and move forward as we begin #RebuildingYourRome brick by brick. Visit us here.