Day 11 – Financial Priorities
Today’s lesson encourages financial and emotional well-being, decreases stress and increases energy.
In an age of instant gratification, credit cards, and having it all now, it is easy to leave our future saving plans on the back burner for yet another day. To avoid falling into the debt trap or facing unexpected bills, which can seriously zap our energy levels, make ‘saving for a rainy day’ a priority. There’s no denying the correlation between financial health and our physical well-being. We’ve all experienced financial stress at one time or another and the draining effect it has on us, like tossing and turning at night, migraines or overwhelm affecting both our minds and bodies.
Knowing your financial situation is the first step in determining if and where you can save, eliminate a bill or afford your weekly coffee run. In order to shift careers and pursue what you love, whether it’s a hobby you’d like to become a business idea, a book you’d like to write or working for a worthy cause it begins with making changes to how you live. A good place to start would be to create a budget. Then you can make small affordable changes by putting money aside weekly or monthly, calling your credit card company for a lower interest rate, or cutting an expense. Having a plan in place is essential to ease emotional burdens and allows us to follow a desired passion with peace of mind. If you want to start a business here are two possibilities to get started. 1) continue with your current job and work in the evenings or on weekends to get your passion off the ground till you make enough money to give your current job or 2) to work a 4 day week and dedicate the 5th day to what you love. Remember, the purpose of this is to have more financial security and freedom to do what you love.The result is it boosts energy levels and creates a more fulfilling life. Time is limited, consider how you’d like to spend it.
Activity: Begin today by taking small steps – even for just 15 minutes a day, because it all adds up. Review your finances – what do you have in savings, checking, retirement account and add up the bills you have to pay each month? Create a new budget. Find where you can make adjustments like not buying a coffee each day and put that money into a jar or savings. The goal is to make at least one adjustment today that puts more money even if it’s $5.00 because it will add up over time. If you do this each month, you will be surprised how quickly your savings account will grow.