Gain financial freedom
Never has it been so important for us to care for our wellbeing. And it’s not just our mental, physical, and emotional health we need to protect and nurture either, it’s our financial health too. Our financial wellbeing is a massive influencer of our overall wellbeing.
What does financial freedom mean?
This is a question I can’t answer for you. Financial freedom means different things to everyone. It’s incredibly personal.
But in a nutshell, to have financial freedom is to have choices.
It’s not to be confused with having lots of money either. To be rich, doesn’t have to be associated with the size of your bank account, it’s more to do with how you use your money. Using your money to support the way you want to live and to do the things that really spark joy to your world is real richness!
Getting into a financial position where you have more freedom may take some time but can greatly improve your wellbeing. It’s so worth the effort.
There are four key elements involved in having good financial wellbeing, you may not have all in place now but you can build these over time. It is about having a plan which puts you in control and builds these elements.
The four key elements to boost your financial wellbeing:
Having financial security.
Being in control of your finances.
Freedom to enjoy life. The one you choose.
Being able to provide for family and loved ones and to ensure that they’ll be taken care of.
The first steps you need to take
Before any plans are put in place you need to ask yourself a lot of questions.
For a start you need to think about what money means to you. Consider where you are now and where you want to be in the future, and what you want to be able to do.
The ultimate financial plan allows you to live the life you want at every stage of your life. Let’s be honest, purely focusing on planning for retirement in a way that prevents you from enjoying the ‘now’ is unfulfilling and likely not sustainable.
With careful planning and by aligning your spending with what is truly important to you, your finances can echo your values.
Banish negative talk
I hope you’re starting to think a bit more deeply into how you want money to serve you in your life, and have started to visualise your dreams and aspirations.
But I also want you to STOP any negativity creeping in. These unhelpful thoughts have the power to prevent you from planning the life you really want.
Give yourself permission to dream big.
Consider your money to be the fuel, not the destination. It’s not about more money, it’s about using it to live a rich life.
Don’t think for one moment that you’re being greedy with your life’s wish list.
Let’s take a closer look at those four elements:
The foundation to better financial health is to know your numbers. You really do need to nail this bit. Work out exactly what you spend on the essentials and identify how much is left over. It’s also important to recognise where this ‘extra’ money goes – review it regularly to make sure that your spending is serving you and your aspirations well.
If you find that you’ve nothing left at the end of the month, then a total overhaul of your finances needs to happen. A spending plan is about putting you in control of your money and ensuring you are using in a way that aligns with your values.
Once you are in control of your money you can start building savings and investments for the future to give you options and freedom to enjoy your life. It will also help you build the financial security we all crave.
As always to protect those you love, you should consider taking out insurances.
For complete peace of mind