Financial Independence: What is it? How do I get it?
Financial independence can come in many flavors, but from my coaching experience it means these three big things.
Financial Independence Means: Choice, Security, Freedom
CHOICE in that you can chose to do what you want with your day. You can choose how you spend your time and energy. Think about all those days you just want to stay in bed or hang out with friends or stay on vacation but instead you have to get up and go to work. Imagine that to be choice. Imagine choosing how each day is spent – how amazing would that be! People often think having true choice means the ability to buy whatever they want. But that’s just a small piece of this. The ultimate test of having true choice is – who owns your time? Is it you, or someone, or something else?
Feeling safe and secure is also a huge thing for most people. Personally, being a product of divorce and uncertain financial times as a teenager really makes SECURITY very important for me too. Security in that you will be taken care of – you will be safe. You will have a place to live, food to eat, and some luxuries like traveling.
When we talk about our hopes and dreams, they come from a sense of FREEDOM. Freedom from the everyday work grind, freedom from your bills, and freedom from thinking about money and if you have enough. Really… think about how often you think about money. I think about it a lot. Probably as much as I think about what I’m eating – which is all the time. How much is that? Did I pay that bill? Am I saving enough? How can I ever buy a house or retire? How will I afford kids? Will I ever payoff my student loans? And I could go on. Having financial freedom changes this inner dialogue from scarcity and fear, to abundance and choice.
So financial independence, sounds great…..so now how do I get it? Like most things, this doesn’t happen overnight. It took time to create your current financial situation, behavior, and money mindset and it will take time change it. Just like people don’t one day lose 30lbs or just become a CEO of a Fortune 500 company. You have to work for it, you have to sacrifice for it, and you have to place your intention on it. But, I’ll tell you what I tell my clients and what I believe at my core, that choice, security, and freedom are attainable for all of us.
But no one will do it for you. Choice, security, and freedom are something you create. But don’t worry I’m here to help you.
To get started ask yourself – what does financial independence mean to me? What are my obstacles to achieving it? What am I working for? What am I willing to sacrifice for? Am I financially healthy today?
Remember, you need to first define the goal so you can create the plan.
For more information on how to create financial independence, or manage your money and pay down debt, contact me at [email protected]
