Financial Freedom for 2020
Financial peace of mind is PRICELESS
Attaining financial freedom does not happen in only one giant step. It does happen by accident either. It’s something that happens over time and it takes a series of what we can call “baby steps”. This is important because it will change your life and every baby step count! It is however, up to you to commit to your goals and to make them happen.
Start by blocking off some time to work out your goals for your financial freedom!. Once you have identified your goals in the key areas of your financial life, for example: your spending, saving, debt management or passive income. You can record them in your 2020 Abundance Money Diary. Follow the guidelines set out in the January monthly insert.
Set your FINANCIAL GOALS
The next step that you need to take is to break each FINANCIAL FREEDOM GOAL into several smaller steps, bite size tasks and listing activities. These form part of your purpose-fulfilling steps, with financial freedom as your ultimate GOAL. Diarise the actions that you need to take, this will ensure that nothing gets overlooked or forgotten, when life becomes busy and you are distracted from your GOALS
Make SAVING a regular Habit
Saving and financial freedom will only happen because you made it happen, on purpose and with intent!! Your financial freedom has to be planned because each day, each week and certainly each month, you want to ensure you are allocating your income flow towards savings/investments and not only towards spending.
To SAVE or SPEND?
This habit of spending or saving, lies in your day to day decisions. The power is in your hands, to action or not to action, to save or to spend! How committed are you to having financial peace of mind?
This is in your hands. So that is the good news, because with financial freedom being your end goal, your life will never be the same. Here are a couple tips that can help you make the change from only spending to saving and spending.
Instead of focusing on what you want, but don’t have, it is important that you focus on what you truly need and do “the test”, before you make a purchase.
Is it a need or a want?
Can I live without it?
Each day, you can record on the day page of your Abundance Diary how much you have saved by making money-savvy choices. It’s very exciting and fulfilling to track your progress!
Clear out your purse regularly and add the small change / coins to your savings jar. The sooner you start saving, even a small amount regularly, the closer you will be to realizing your financial dreams by having your money working for you. But before your money is going to go to work for you, you do need to build an Emergency Fund. Read more about that in the monthly insert of the Abundance Diary!
Build towards your goals and take those PURPOSE-FULFILLING STEPS daily
Use the year-planner in the front of your Abundance Money Diary, to indicate milestones or deadlines that you set for yourself. Schedule time to review them each month. Each day you can choose a small task that you can action and achieve, which will move you towards realizing your GOALS! Goals are achieved with consistent steps, every small steps counts.
Create a MONTHLY Ideal Income & Spending Plan
At the start of each month, nestled in your Abundance Money Diary, you will find the Ideal Income & Spending Plan template. it is designed for you to do the estimate budget first and then later, to record your actual expenses. This way, you get to know where your money went. This knowledge makes a huge difference to your FINANCIAL FUTURE! And, it is up to YOU!
This practice of tracking your MONEY will help you to gain clarity of your various expenses and savings, allowing you to see the variables and how close the actual costs are to the estimated figures. The difference that you will see is the information that will help you to make small but important changes. These are the changes that will support you in your goal towards financial peace of mind.
Close the LEAKS
By tracking your spending, you will be able to close the leaks in your money flow. Closing the leaks and re-directing your money, allows you to take back your power with your money. It feels really really good!! More details on how to get the full benefit from your Ideal Income & Spending Plan are to be found the the front section of your Abundance Money Diary.
DAY to DAY Expenses
Recording your day to day expenses is the second MOST IMPORTANT step that to take, in re-claiming your power around money and literally reclaiming your MONEY. In my Financial Coaching sessions, time after time, the area where people spend the most money, without being aware of the amounts, is on their day to day expenses. This knowledge is a huge wake up call for most my clients. How about you?
Could take a couple minutes after a shopping trip to record how much you’ve spent? Or, at the end of the day, you can use the recording day to day spending spreadsheet in your Abundance Diary, to track how much you spent. Over the period of a week and then over a month, this information is valuable in understanding your financial habits. It is a personal journey which only you can do for yourself.
Next, you will add up the totals of your expense categories at the end of the month and review how you spent your money. Compare the actual spend to the estimated amount. Is there a difference? How big is the difference? Review the figures to see if you can make any changes with your day to day spending habits and find where you can allocate even more to savings? Saving needs to be your number one expense!
EMERGENCY Fund First
Your first saving GOAL is to set up your emergency fund. The second SAVING GOAL is to build savings equal to 3 to 6 months of your monthly expenses. Remember, consistent baby steps will get you there!
Ignite your Sense of Abundance with GRATITUDE
Each day, as you notice your thoughts, your feelings, your experiences and your activities. Some are good and some are not so good. That’s okay! The challenge is to focus on and to notice the things that you can be grateful for! Recording gratitude is an enriching activity and an abundant experience.
The GOOD Stuff
We are all here to learn and evolve, so the more you notice the good stuff already in your life! More good stuff comes your way. It’s like magic. The more you focus on all the wonderful, exciting, positive and uplifting things in your life the more your will attract blessings, miracles and amazing synchronicity. It’s GOOD!
Now is the time to put pen to paper and record special moments for eternity, on the daily pages of your Abundance Money Diary. It is a life changing practice that you will come to relish and love, especially when you page back and review gratitude moments you recorded months before!
GRATITUDE A Year later
The best part is that a year later, you can review and recall in beautiful detail your amazing GRATITUDE moments that you might otherwise have forgotten. This is one of my favourite things in my Abundance Money Diary. It is through this exercise you will become the person who continuously attracts more and more blessings into your life. I love that I get to review my GRATITUDE moments, a year ago today.
Financial freedom is achieved, just take a step everyday!!
To your abundance!