Week 1 – Decide to be financially independent.
Welcome to July! This month we celebrate our Independence Day as a nation. Every July 4th. we gather to celebrate our country’s independence, spend time with family and friends, eat some really good food and take time to acknowledge our freedom and independence. It’s time for you to do the same with your financial life. It’s time to add financial freedom to your adulting skills. You can do it. It won’t be easy and there is no quick fix but you can do it. This is a great time to get started, so no more excuses. Your future financial independence day celebration starts now.
Every Tuesday in July get a key to your financial independence. This week, we start with what may be the toughest of all – making the key decision to be financially independent. It’s not that your goal is to amass a fortune, but that wouldn’t be a bad thing. Rather, your goal of financial independence is to decide to be financially independent, stop living paycheck-to-paycheck and get out of debt, rightsize your lifestyle, and finally to start amassing wealth for your future.
It may sound odd, but this is the hardest step to being financially independent. It’s also your new goal – no, it’s your new mantra! Speak it aloud, write it down, post it to the fridge, your laptop, in your car, in your electronic day timer or wherever and however you need to be reminded. Do it! Identify where you are in your own financial life. Do a serious assessment of what you owe, what you own, and what cash flow you have every month. Find statements for your credit cards, mortgage, consumer charge accounts, any money owed and learn the balance, the interest rate, the minimum payment and plot this out. Do not ‘guesstimate’, know thy self. Use Word or Excel if you have to but learn where you are financially. Be sure to list income, savings balances, and equity in your home; you’re building your own personal balance sheet. You can also start for free using my planning software.
In each week’s key to financial freedom, you’ll notice there will be intermediate goals or steps to work on. You have your marching orders for week one, so spend a few days and get yourself organized and get real about what you own and what you owe. This will be an eye-opener in many ways. Just deciding to be financially independent and taking assessment of your current economic situation is a huge step forward.
As an independent Certified Financial Planner™, I can help you plan for financial independence and be on top of your goals. Contact me and let’s get started on a cash flow plan! #talktometuesday #education #Hireaplanner #tax #cashflow #stressfree #newplan #savings #FiveKeysToFinancialFreedom #FinancialIndependence