“Your personal goals (vision) need to determine your spending, not your spending determine your goals.” – Bryan Cooper
Dream a little . . . what would “Financial Freedom” look like to you? Close your eyes, can you see it? Can you taste it? Reflect on this for a few moments.
As I’ve coached over the years I have learned that you must spell out what financial freedom means to you and you must start establishing and prioritizing goals to get there. When I work with a client the first thing we do is spend 30 minutes in this area and we revisit it during the entire process. This is where you design life around family, events, etc.
Please understand that you don’t need to have every detail figured out before you start, you just need to start! Brainstorm your goals. Your goals should include financial and non-financial goals. Establishing the right goals will help you with life balance.
Your goals need to include:
- Very short-term goals – (under 1 year):
- Short term goals – (1-5 years):
- Long term goals – (over 5 years):
Your goals should become your compass. Everything you do will be measured against your list of goals. As every new opportunity comes before you, you will evaluate it to see if the opportunity helps you toward your goals, or away from them. If it helps, consider it. If the opportunity distracts or hurts your progress towards your goals, eliminate, say no to it because it will get you off course.
Remember, your goal list is a living document. You will make changes to it as priorities change or as other life events unfold in your life.
So today why don’t you do the following two action items.
1. Take a pencil and paper and start writing out what Financial Freedom means to you.
2. Write out your goals, breaking them into < one year, 1-5 years, and > than 5 years.
It’s your life; why not make the most of it?
Remember, YOU have a choice, and the choice is YOURS.
My Financial Life Coach, LLC
- Savings Pledge Stories: The Thrifty Couple on Working to Achieve Financial Freedom (savings.com)
- Paying the Bills (myfinanciallifecoach.wordpress.com)
- Three attitudes that really mess with your financial wellness (myfinanciallifecoach.wordpress.com)
- Step 1- Know Your Financial Condition (myfinanciallifecoach.wordpress.com)
- Taking Control of Your Finances – Is the Economy Really that Bad? (myfinanciallifecoach.wordpress.com)
- Setting Goals & Objectives (Brian Tracy)
- Zig Ziglar on Goal Setting
- Finding Financial Freedom (Part 1) (socialelements.net)
Thank you for reading the My Financial Life Coach blog where we talk about life, food, family, life events, spending, and economic news. We do make every attempt to avoid the topic of politics but we will bring up economic policies that need communicated.