Money….
It’s the top source of stress, the number one cause of depression, and one of the leading reasons for divorce.
On one hand, it causes anxiety and stress…. And on the other hand it can give you freedom, security and opportunity.
Some people do terrible things to get it.
Others do insanely amazing things with it.
Deep down, everybody wants it, and we all really do need it, to a certain degree. The question is: what are you going to make it, grow it and keep it?
As a Bible believing Christian, I think it’s interesting that there are over 2 350 verses on money in the Bible, a huge difference to the 500 verses on prayer and 500 on faith. That clearly emphasizes the importance of good stewardship and money management.
We all need money to survive, in fact a great part of our daily lives revolves around earning money, spending money and simply thinking about money.
Having a solid financial plan will allow you to save money, afford the things you really want, and achieve long-term goals like saving for retirement.
It is important to note that everyone’s financial plan looks different. We all want to be financially independent and build wealth in our own way. Deciding to embark on the journey toward financial independence is the first step! It marks a fresh beginning with your money and it means that you’re setting out to accomplish something that can change your life for the better.
So, what steps can you take for a financial fabulous future?
Write down your financial goals. What do you want your finances to accomplish in your life? Make sure your goals are well defined and prioritized accordingly. It's great to have big, lofty goals! But be sure to break them down into smaller chunks. Track your goals and celebrate milestones to reach your financial dreams faster.
Understand what’s currently happening in your finances? Analyse your income and your expenditure, in detail. What do you spend your money on? Are they wants or needs? The easiest way to do this is to schedule a money date with yourself once a month.
Control your spending. Once you understand where your money goes, you need to decide what are ‘wants’ and what are ‘needs’. Try to cut the unnecessary ‘wants’ from your budget. Understand what triggers wasteful spending in your life and avoid it. This could include unnecessary trips to the mall.
Establish other sources of income. Having other sources of income can ease some financial burdens, and allow you to prepare for the future. Start doing things at home like catering, baking and selling baked goods, photography, or singing.
Find a dream team. Find a support system to support you on your brand new financial journey. A mentor, advisor, a financial coach, anyone who will hold you accountable for your actions and help you get to the next level.