Dream about financial freedom
Have you ever said: I was never taught about money. I do not know the first thing about personal finance. I have no idea what to do with my money. I make a lot of money, but I have no idea where it goes. I am tired of stressing over money.
If any of these statements resonate with you, then I invite you to take a journey with me to learn about basic personal finance.
The first thing I want you to do is dream – dream about your financial future and dream big.
Then, formulate your financial vision by reflecting on what it means for you and your family to be financially successful.
For example, my husband and I envision our family becoming financially independent, so my husband and I can retire early and give generously.
For us, being financially successful means retiring early and giving generously.
The Bible says, “Where there is no vision, the people perish” (Proverbs 29:18).
Do not worry about the accuracy of your financial vision. Your vision is unique to you. It can be revised and updated as you grow in financial literacy.
In addition, identify your financial goals. For example:
- Create an emergency fund
- Increase income
- Pay off debts
- Save for a down payment on your new home
- Buy a car
- Save for a family vacation
- Take care of elderly parents or relatives
- Pay off mortgage
- Save for retirement
My goal is to equip you to achieve financial freedom.
Investopedia describes this as “…having enough savings, investments, and cash on hand to afford the lifestyle we want for ourselves and our families—and a growing nest egg that will allow us to retire or pursue the career we want without being driven by earning a certain amount each year.” Dismiss the notion that financial freedom is only achievable by rich people. I contend we all have the potential to be financially free. Many of us have traveled near and far to make this dream a reality.
Let us start today.
We are on our way to achieving financial freedom.
Do this for next time:
Know your numbers:
How much do you make?
How much do you spend?
How much do you own?
How much do you owe?