Is there an easier way in personal finances?
Personal finances and understanding them can be easier when you know what to do. That’s the goal!
Understanding personal finances, financial services and everything that is involved can sometimes be hard to understand and navigate. Some people get frustrated in knowing where to go and what to do. Have you been there yourself? Have you ever wondered if there was an easier way? Have you questioned if it is possible to achieve debt freedom and attaining financial freedom? There is but if you’re not there just yet, it requires a certain degree of discipline and know-how along the journey.
But before we go any further, let’s answer a question. What is discipline? Many see this negatively word, but you’re encouraged to see it as a good, positive word instead.
What role does discipline have in personal finances?
Discipline in the right places and ways help you get stronger.
According to Merriam-Webster, discipline is simply training that corrects, molds, or perfects the mental faculties or moral character. And according to The Free Dictionary, discipline is an activity, exercise, or a regimen that develops or improves a skill; training.
Did you see some words stand out? Molds, perfects, develops and improves are the big ones. Your goal in the pursuit of financial independence, debt freedom and understanding excellent financial choices is to get better and be better. Call it personal improvement if you will. Bingo!
The way to achieving financial independence and debt freedom starts with setting some goals. Let’s start with short-term goals, shall we?
Setting Goals in Your Personal Finances
Short-term goals that are completed give you confidence in setting longer goals.
Short-term goals, such as paying off debt and lower barriers that would impede or completely halt progress toward that goal are very desirable. Additionally, having multiple financial priorities going at the same time (such as accumulating savings for future endeavors like a new home while you’re working to reduce debt) can be achieved with a workable plan. In other words, if you want to run, how do you do that? It’s done by taking smaller initial steps in walking first then picking up the pace. As you become more comfortable with the progress you’re making in the beginning, you’ll become even more so as you go on.
Do You Have a Journal for Recording Thoughts about Personal Finances?
Writing down your thoughts and goals enables you to go back and see what you were thinking and what you were able to complete successfully.
A tool that may prove to be helpful is a journal that’s meant only for your thoughts and ideas. Here you can feel the freedom to bare your soul and let your thoughts run free. What’s important to you? What thoughts do you have about where you are and where you want to be? Emotions are very powerful; write them down so you don’t lose them!
You can always refer back to your journal as a reminder of what has happened in making progress. A journal with a separate section for your financial goals may also prove to be valuable too. In it, write down your short-term and long-term goals with a specific time period of how long you want it to take before making it happen. Nothing is off limits here either.
Whom Do I Seek for Guidance in My Personal Finances?
Taking care of home and family carries major responsibilities. It’s important to be more careful than ever before. Journaling your thoughts and goals early is the best activity you can invest in.
Seeking appropriate financial guidance often starts with the purchase of a home. That is a big step for many people. Knowing now that you are responsible for making mortgage payments over many years causes the need for guidance to become especially real. Starting a family and having children brings increasing levels of responsibility, doesn’t it? Ask those who know what it’s like and you’ll have a good idea of what involved. However, you will want to start writing down your thoughts before then. By this time, you’re in deep by this time and it might be costly to make a mistake. That’s not a good time to find out that you made a large blunder.
Where do I go? What do I do? Trusted and reliable help is available!
And as long as you’re writing, include your thoughts about who you feel can be a valuable source of help that resonates with you and your feelings. That would also include a financial services professional. Unfortunately, many people don’t know where to start or who they can trust. One study indicates that over half of an age group (those under 35) feel that they no one they can turn to for financial guidance. This is troubling to say the least. But once you’ve gathered some thoughts, start searching and ask questions of those you come across.
There’s no need to go alone. Help from a trusted and reliable professional is available if you ask for it.
Rest assured that all is not lost. There are ways move forward with the right ideas, tools and guidance in place. How can this be done?
The next post will share some ideas on how to invest in your own personal financial education. You may have seen some of those ideas before, but maybe not others.
Helpful suggestions and ideas are coming soon, so stay tuned!
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