Your 30-Step Path To Financial Freedom And Abundance (Part 1)
If financial freedom and abundance is your goal, you’re likely to get the best results if you combine your favorite Law of Attraction techniques with a concrete plan that focuses on practical transformations. This 30-step path to financial freedom and abundance helps you see money in a more positive and productive light and teaches you to strategize in a way that supports long-term financial freedom.
Let’s start by looking at how you can make the first 15 days an inspiring success!
Financial Freedom In 30-Steps: Part 1
1. Set Your Intention
Start by being honest with yourself about how you think and feel about money. What do you believe about it, and what emotions does it bring up? Next, write down five benefits you're excited to see when you achieve financial freedom. Finally, resolve to take full responsibility for your money, and affirm that you can change in a way that leads to abundance.
Conduct a broad overview your financial situation, making some notes about your approach to spending, whether you plan ahead, your saving strategy, your typical way of budgeting, whether you ever get any expert help with your finances, and if you have a good record of setting and keeping financial goals.
Don't judge yourself negatively here; the goal is just to get a sense of how things are, and what you might want to change.
3. Make Space For Abundance
Look for financial loose ends you can tie up; get rid of things that make you think about financial difficulties from the past. File necessary documents away and shred statements you no longer need.
4. Create A Good Financial Environment
Set the stage for success by creating a spot in your home that's dedicated to doing productive financial work. Make it a positive place that's conducive to focus and clear thinking, and consider getting a new binder or box to devote to the forthcoming paperwork from your abundant future.
5. Analyze Your Credit
Thanks to the FCT Act, you have the right to a free annual credit report, so get hold of one for a helpful review of your finances. This information lets you know if you’ll have any issues getting insurance or renting a home, and if it’s looking good then you should be able to get additional credit if you ever need it.
6. Improve Your Credit Report If Needed
If you see something wrong with your credit report, file a dispute and include the relevant documents. Your claim should be investigated within a month, and you’ll get the details of the result as well as a new copy of your report if it has changed.
7. Predict Your Financial Path
Build an accurate image of what you’ll have in the future by drawing a map of how your income will change over time. Write down specific goals and timeframes to make your path concrete.
8. Visualize Abundance
Visualize the desired improvements in your head, and allow yourself to feel the pride and excitement that comes with abundance. Aim to do this for 5-10 minutes every day.
9. Ask If You Need A Debt Payoff Plan
Evaluate your current debt, and if it’s significant then make debt payoff a priority. Figure out how much you can pay back, and when; even this act will give you a sense of productivity and accountability for what you owe.
10. Formulate Financial Priorities
Write down a list of needs and wants (e.g. buying a car, taking a vacation, getting rid of debt), classify them (i.e. as a need or a want), and then rank them in terms of importance. This will help to set financial goals at a later stage.
11. Focus On S.M.A.R.T Goals
All throughout your financial wellness journey, focus on goals that are S.M.A.R.T.; specific, measurable, achievable, rewarding and trackable.
If a potential goal doesn’t tick all those boxes, reformulate it until it does.
12. View Your Financial Life In 3 Stages
Goals also fit into three broad categories: short-term (within 2 years), mid-term (2-5 years) and long-term (more than 5 years).
Be sure to classify all of your personal financial goals in one of these three ways, and make sure you have something in every category.
13. Tackle Debt
Opt for one of the two most effective strategies for tackling debt; either start with the smallest and work your way up or start with the one that has the highest interest rate. The first is rewarding and encouraging, as progress is made very quickly. Meanwhile, the second saves you the most interest in interest charges over time.
14. Plan For Emergencies
Expect the unexpected by aiming to have enough money set aside for 3-6 months of living expenses, just in case something goes wrong. Not only does this preserve your financial wellness, but it also takes a weight off your mind.
15. Secure Your Future
Start assessing and planning for your retirement savings. For example, seek the advice of a planner, make sure you participate in any retirement plans at your work and be wary of cashing our early (which incurs more penalties than people often realized).
Congratulations on progressing through the first 1-15 days of your path! Be sure to read part 2 to discover the final 15 steps.