On life’s journey, learning lessons is part of the process. When we talk about financial independence and developing wealth, we have to ask ourselves how much we’re willing to learn and how far we’re willing to push ourselves to develop that financial freedom. Today, we’d like to share with you some ways you can push through to the next place of growth towards a more secure financial future.
Do You Really Want Money?
Everybody says they want money, but at the end of the day, they don’t. What we actually want is the things that money can buy. For most of us, what we want is the time and peace of mind that money can buy. Having money buys the ability to make decisions where money isn’t the primary driver of what you can and can’t do.
One way to think of this is to take the mindset that financial freedom isn’t a dollar amount, but it’s the ability to control what you do with your time.
Another way to think about this is to take a principles-based approach as you achieve financial freedom. That way, when things aren’t working, you can easily reframe what you’re doing and see if you’re sticking to the principles that you’ve established. These principles can help you figure out what to do and gain consistent results.
Understand The Four Components of Money
If you want to ultimately be empowered with money, there are four major components you need to understand.
The best investment you can ever make is in your ability to produce. Production is nothing more than solving problems and creating value for other people. If you can get really good at doing that, your money problems go away.
Once you have money, the next step that many people take is asking where to invest it. It is very helpful not to think of investments just in terms of their return, but rather in terms of how they can contribute to your cash flow. Making money and then turning that money into good cash flow is an important step toward becoming financially free.
Making and keeping money is all about strategy. As you are saving money, you need to develop not just good investments but also a good tax strategy. You need to carefully plan what you’re doing with your money to keep your cash flow up. A good strategy can help you on the path to financial freedom.
To make your money work for you, you need to make sure that what you do with it aligns with your values, goals, and talents. Understanding what prosperity means for you allows you to build a life that matters in pursuit of financial freedom.
Define Your Goals
Getting a clear mental picture of what you want will help you frame your financial path going forward. There are a few questions you can ask yourself to help create a roadmap to financial freedom. The first of these is asking yourself what you want.
Again, most people don’t actually want money– they want what money can buy, and that includes security. Being financially free means that you can do more for your family, like having a well-stocked emergency fund. You can pay off your debt and your student loans, you can build your retirement savings, and you can work on saving money for the things you want.
The next question to ask is why you want this financial goal. There’s an emotional aspect to the reasons that you want money, and when you can clearly outline these emotions and place them next to the mental clarity created when you define what it is you actually want, you set yourself up for greater success.
The third question is who do you have to become? We mean this in the best possible way: the journey to financial freedom changes people. The journey is just as important as the destination when it comes to the decisions we make and who we are. When we are faced with challenges, perseverance and flexibility go a long way toward solving those problems.
Don’t forget that your family is watching as you face these challenges. Your family will be there for you and take pride in your process– they want to see you succeed, so don’t be afraid to lean on them and show them that they can overcome.
Financial freedom is attainable, and there are lots of ways to take this journey. If you want to achieve financial freedom and grow wealth without sacrificing family time, you should join the Rainmaker Challenge. Our community of Rainmaker Families is full of people just like you who have taken the next step towards becoming financially free. Come learn with us– we’ll teach you how to make it rain!