What’s holding you back from achieving your financial dreams – your Financial Freedom? Do you even know? Well, it is time to find out and to do something about it.
What I would like you to do is to write down (has to be on paper, not computer) a list of 20 things that are holding you back from achieving financial freedom.
Once you have done that, take a break, have a coffee/juice/water and walk around the block, or whatever it is you do to clear your head. Then come back and have another look at the list.
Find a different coloured pen (markers are great for this) and I want you to cross everything off the list that is outside your immediate control.
An example of this may be, the world economy. That is way out of your control (unless you are Donald Trump), so cross that off your list. If it is something to do with the climate, cross that off as well; we can’t control the weather. Are you getting the picture?
How many items did that eliminate off your list?
Get another coloured pen and go through the list again, this time you are looking for items that start with statements like:
I can reach my financial goals when ….. I finish my degree; I win lotto; I get a better job; the kids leave home, etc.
You have to be ruthless here and practical!
The list should be getting quite a bit shorter by now. Keep going through it, until you are left with the 5 things that are holding you back but that you can do something about now to move towards financial freedom – to achieve your financial dreams.
Once you have these 5 things, start thinking and brainstorming solutions.
Here are a few ideas on how you might increase your income,
- Tutoring: Look at what you’re good at. May be start with your hobbies. What do you friends say you are really good at doing? Can you teach someone else how to do it?
- Make use of your assets: What do you have spare that you could either sell or rent out?
- Utilise your spare time: If you find yourself using spare time surfing the Net or for ever on social media, consider a part time job or possibly do some freelance work.
- Mortgage: If your current debt level is holding you back, can you refinance? There are plenty of mortgage brokers out there who very keen to help you. Make a plan to pay it off more quickly than you currently are.
- Insurances: While you’re at it, contact a insurance broker to look at your insurances. Maybe there are costs to be saved here as well.
- Spending: Is it is because you simply spend all you money? Look at why you do that, what checks and balances can you put in place to curb your spending? Is a budget service an option for you? A number of these services are free. If you can’t figure it out, drop us an email, we’re happy to have a chat.
The next step is not just to look at the list, but to take one of the items that is holding you back and brainstorm (no matter how crazy!) all the possible ideas you have to turn that around.
The whole point of this exercise is to get you to expand your horizons and shift your locus of control from external (where you look outwards to others for solutions) to an internal locus of control.
This is where you hold your future in your hands. You take responsibility and you create the life you want, rather than just waiting for it to happen.
If this sounds crazy or weird or nerdy, is it because you don’t have any financial dreams? If it is then do some dreaming and set some goals to work towards your financial freedom. Little steps count.
Take action and take one small step towards your financial dreams!
That step may be going to the Home page of our website, downloading our FREE e-book, Spice Up Your Relationship with Money and maybe take the personality quiz and drop us an email for more information and how to make a start.