You outcomes are entirely up to you. Don’t be afraid to set incredible life and big money goals.
Your finances, your health, the way you spend your time, who you spend it with and what you do for work. It’s within YOUR power to make every one of these areas the very best it can be for you and your family.
We all have our own idea of what ‘financial freedom’ looks like for us personally and it’s up to us to set the big money goals to get us there.
I’ve never met anyone who’s idea of financial freedom was to accumulate masses of money simply to let it sit in an account and never do anything with it.
For most of us, financial freedom is about what we DO with the money or what it can DO for us – hello, compound interest. Financial freedom is the ability to make the decisions we want to make and live the life we want to live (whatever that looks like for you) without worrying about finances.
Let’s take a peek at some different ideas of financial freedom and how it might feel to get there…
Being debt free
Credit card debt is easy to ignore. Especially when you add to it just a little at a time; a movie ticket here, new jeans there, an extra round of drinks. It all adds up and eventually, debt feels normal. Like you’ll always have an outstanding balance, something to be paying down.
Imagine never paying off your credit card again. Or a car loan. Or university fees. Or……a mortgage. A debt free life. What would it be like? No more worrying about how to pay the credit card bill or feelings of debt guilt. All that ‘extra’ money is now directed into your savings and investing account. Peace of mind and security.
More time to spend with your family
Your secure financial situation means you’ve been able to switch to working just a few days a week which means spending more time with the people you love.
The financial freedom you create now means one day you can also leave them a legacy that keeps on giving.
Funding your lifestyle with investment income
For some of us, this might just be the granddaddy of all financial freedom goals – funding your lifestyle with income from your investments.
Imagine every month earning enough money from your investments alone to cover some or all of your living expenses! This is how the wealthy live.
This might sound like a pipe dream to you but it doesn’t have to be. I teach the exact method for achieving this in Investing Bootcamp (new class opening soon). It takes time and commitment to achieve, but it IS possible.
Doing work you love
Financial freedom to you might be creating a life where you do the work you love; regardless of how much it does or doesn’t pay. If you’re already financially secure, the size of the pay packet doesn’t have to be the main deciding factor on whether you take the job or not.
You can choose the work you LOVE to do. This might even mean volunteer work or turning the hobby you’re passionate about into a business.
Travelling the world
Maybe your idea of financial freedom is becoming a digital nomad with an online income that allows you to pack up and take off whenever you choose. Or you may just love the freedom of being able to take a big trip every year knowing you have the finances to pay for it.
Helping others by giving time or money is one of the most rewarding things you can do.
Imagine having enough in the bank to start a passion project, donate generously to a meaningful cause or even surprise loved ones with a trip away on special occasions! For some, the ability to give generously when needed, without worry, is an important financial goal.
Do these goals sound big to you? Do they look like big money goals?
It’s easy to get hyped up and excited, especially around the start of the new year, and for a moment we DO let ourselves dream big. But once the inner excitement about setting the goal subsides, maybe you’re just left overwhelmed.
This is a great goal…but is it TOO big? How can I ever get there…from here.
And overwhelm leads to doubt.
Doubt that you can ever achieve it.
So mentally, you kind of file the goal away again. It’s too unrealistic, you tell yourself, looking at the gap between where you are now compared to where you want to go.
Here’s the thing, BIG goals begin with SMALL steps. Don’t ignore the small things, like saving $10 a week or paying an extra $50 off your credit card debt. Every positive step towards your goal counts.
Believe me, you CAN achieve these goals. No matter how big your money goals are, you can literally start working towards them today. Because the first step you take doesn’t need to be big.
With a plan to bridge that gap and commitment to relentlessly taking action, you can get there!
The idea is to dream big, set big goals, break them down into mini goals then take small, daily steps to get there. Do this, and your financial success is inevitable.
I’d love to know what your BIGGEST money goals are! Share them with me in the comments or the Investors Way Facebook page.