Your 30-Step Path To Abundance (Part 2)
You’ve already made some significant strides towards the lifestyle and mindset that create abundance, but there are plenty of other productive and inspiring things you can do. So, now that you’ve successfully made your way through the first 15 days of your path to financial wellness, let’s move on to the final 15 days.
Once you’ve set clear financial goals, it’s important to regularly remind yourself of them. Write them down and put them up where you can see them (e.g. on your fridge or near your desk), and create a dream board representing the abundant future you’re striving for.
17. Save Wisely
Almost all of your major financial goals will need you to save, so give some thought to the saving strategy you’ll adopt. To save wisely, consider making some extra cash from a hobby (e.g. something you can create or do), sell off old possessions you no longer need, put any unexpected earnings into an interest-bearing account, and try to set aside a particular chunk of your income each month.
18. Track and Monitor Variables
Work out your variable expenses. These are ones that change every month (e.g. groceries, services, food and healthcare items), and the ones you have the most control over. As such, logging them can give you great ideas for specific changes.
19. Identify Fixed Expenses
Now turn to your fixed expenses, which don’t vary by month (e.g. rent or mortgage payment). They can’t easily be changed, but logging them does give you a clearer sense of what you can afford to save and how much money you need to survive each month.
20. Plan for Periodic Expenses
Periodic expenses are not monthly, but are regular (e.g. vacations and tax debts). These often break people’s budgets because they don’t get planned for—so plan for them! Determine what they’ll be this year, and be honest about them (e.g. gifts and projected car expenses).
21. Record Everything
For at least a month, create a document dedicated to tracking absolutely all of your expenses—from cheap bus tickets to major purchases. This process not only shows you places to cut back, but also encourages the habit of accountability.
22. Find Opportunities To Cut Spending
Challenge yourself to come up with 10-20 small ways to save money—these will all add up. Good examples include cutting soda consumption by a liter per week, making lunch instead of buying it, and getting secondhand books.
23. Reduce Your Grocery Budget
One of the best things you can do is buy generic brands at the grocery store, which often taste just as good (or better). It’s also smart to make a list before you go to the store every time, and stick to it (rather than being pulled in by tempting offers). Meanwhile, plan meals ahead and think of ones that involve cheap but hearty ingredients.
24. Share Ideas
Tell other people about the things you’ve done so far to enhance financial wellness, and spread positive energy about abundance. Ask them for their ideas too, and consider incorporating the best ones into your routine.
25. Review And Adjust
Don’t let your attitude to your finances stagnate—instead, make a habit of looking over your budgets, your spending patterns, your savings account and how you feel about finances more broadly. If something isn’t working for you, change it. You’re looking to not only have more money but also to feel better about money.
26. Protect Your Assets
Even if you don’t view yourself as having a lot of assets, it’s important to have a will. If you have children, this allows you to name guardians, and even if you don’t have kids you’ll get the peace of mind of knowing how assets will be distributed. And once you do sort out a will, keep it somewhere safe and private.
27. Make Credit Decisions Carefully
Whenever you apply for credit, read through all the terms—it might seem tedious, but it’s important (and allows you to compare the terms of various options before making the right decision). Be sure to look at the interest rate, length of loan, credit limit, grace period, late fees and finance charge.
28. Form A Financial Support Network
As good as your financial skills may now be, you’ll also benefit from having a team of professionals. This can include a tax advisor, financial planner and lawyer. Ask friends and family for recommendations, and don’t be afraid to meet with a few people before making a decision.
29. Appreciate The Change
Take time to celebrate all you’ve achieved so far on your path to abundance! You’ve faced a lot of challenges, but the payoff will be well worth it (and likely already is). You might benefit from writing a short account of what you’ve achieved, or from sharing your story with others.
30. Celebrate And Move Forward
Finally, take stock of what you’ve done, and affirm your ability to attract financial positivity into your life. Then move forward in your life of abundance with confidence, knowing you can manifest even more money.