Yes we are shooting for the stars!
Yes, we want to create and maintain our financial freedom!
Cheers to that ‘level-up’ mindset! Still, we must take action first. While I dislike the word “must” in that case the shortcuts are to do it in smarter ways! I am truly grateful for one of my qualities: courage. I had the courage to learn what I didn’t know. To this day I keep an open mind! I do not want to miss out on how to upgrade my financial health. Plus, don’t kid yourself. There’s no age to start … go day by day … brick by brick.
My personal money goals
Short term goals were to pay off debts, while saving money. Mid-term goals: invest in my company, invest in stock market and acquire assets. Long term goals: invest in real estate and maintain financial freedom! Current situation, one debt left, increased savings, and building my business credit. If you notice, I don’t talk about retirement, because I am a hard worker. I have different interests, so I do not see myself, not working on something :)
5 tips on How to budget
1. Get a job.
A vehicle for money. Whatever the job is, get it. If you don’t like it, get a better job, while you already have one. It’s the moment to practice gratitude about having that vehicle for money. To remind yourself that it is a temporary, smart situation to get to a better situation. Learn how to discipline yourself and get your spending under control.
2. Save money in a smart way.
Honestly, for a long time, I thought saving cash money was what truly mattered. And of course I still think it’s smart. What’s cool is that I educated myself and realized that I could make money from my savings and create financial security in my banks. It’s literally the basics. While we shoot for the stars, why not do it in a smart way? Here in Canada, I recommend to open a TFSA, RESP, kid’s account up to a X maximum and tax free plus the government add X % annually and oa saving account. You do not need to save big amounts to save. Trust me it builds up with time.
3. Pay your debts.
Paying the minimum is good, but to pay extra is better. Over the minimum amount. You got this!
4. Live below your needs to STOP living paycheck to paycheck
At first I was like I am not going to track my transactions…I ended up doing it LOL! Ask yourself questions and answer them honestly . Let me share a personal example with you that truly helped me. I used to be Starbucks’ most loyal client. At some point I realized I spent $308 within a month! I asked myself “do you really need 3 Starbuck’s coffee daily” ? Obviously, the answer is NO. The why behind it, triggered my curiosity: why in the world would I spend so much money, that I could save (or spend)? Because A) I love coffee B) buying at Starbucks gave me a sense of belonging C) easier than doing it at home (lazy). Once I figured honestly what was going on in my brain, I slowly started to change. A) I still love coffee and that’s okay ! B) I much rather buy it from a local coffee shop and thankfully buying at Starbucks doesn't make me feel no type of way. It's insane the inner work I have accomplished just by realizing small stuff like that and the money I have saved. C) I am an adult and I make coffee at home. Jokes aside, once you learn to grow from a small bad habit, it enables you to grow in different spheres of your life. Tired of living paycheck to paycheck, then start to be honest with yourself. Do you really need that new outfit? Are you going to perform better? Remember living below your needs doesn’t mean to never reward yourself, it simply means to not comfort yourself with objects that promote laziness and hide deeper issues…
Real wealth isn’t just money !
5. Who is your entourage i.e. who are you surrounding yourself with.
Yes, truly it matters. Surround yourself with people that inspire you to make smarter decisions about your money. Learn to have open discussions about money. Learn to attract money (law of manifestation). If you feel like you have no one in your entourage to talk with or that inspires you then don’t focus on that! Focus on your financial health and connect with like-minded people. Research online, read about it, educate yourself, sign up in communities that interest you, watch Youtube videos. Nowadays we are all lucky to have this accessible tool called the internet, so there are no excuses to prevent us from creating our own version of financial freedom.