Stop and think for a minute: how do you feel about your financial future right now? You might feel ok about your finances, but have put very little thought into your financial future and what this will mean for the future you. The fact is, if you’re not taking the steps to secure your financial future now, then you’re leaving it to chance. Anything could happen, and when the time comes you’ll likely end up wishing that you did more to secure it.
Below, we’ll discuss 11 ways that you can start taking control of your financial future today. Take a look and see what you can do:
- Decide On The Sort Of Life You Want To Live
If you want to take control of your financial future, deciding on the sort of life you want to live in the future is imperative. You can’t really come up with a plan or take any other steps if you don’t know where you want to be, or you only have a vague idea. Thinking about retirement is important of course, but where do you want to be in 3, 5, and even 10 years time? Answer the questions below so you can decide:
- How much freedom do you want to have with money?
- Where in the world do you want to live?
- What do you want to be doing with your days/experience/skills?
- How will you provide value to other people?
By answering the above questions and any others that you can think of, you can get super clear on what it is you want to be doing. Remember, this is personal to you and you shouldn’t try to make your plan like anybody else’s just because you think you should.
- Set Financial Goals
Now that you have a plan, it’s a good idea to work on setting financial goals. Come up with goals that will help you to meet your plan for the future, as well as short term goals that can help you. Goal setting has to be done properly for it to be effective. For example, you need to make your goals both specific and actionable. Giving a date you want to achieve them by can also help you to stay motivated and focused.
- Agree To Have Regular Money Meetings
If you have a family, agreeing to have regular money meetings has a few benefits. It fosters open communication about money, which is essential in families (money is often the root cause of many arguments). You’ll also better be able to plan for the short and long term, as you can discuss whether you are on the way to reaching your goals, what can change, and anything you may have coming up that could potentially affect you.
- Consistently Work On Changing Your Attitude And Mindset Towards Money
Changing your attitude and mindset towards money is crucial if you want to make more of it and handle it properly. If you think you can go around hating and slating money while rolling in it and living your best life, you’re wrong! Many financial experts will tell you the same and have written about it time and time again. Changing your mindset should be at the top of your list of priorities.
- Protect Your Family And Your Assets
Although you want to put as much money towards your goals as possible, it’s a good idea to ensure that your family and assets are protected. For example, you want to make sure you have the right kind of insurance, and that you’re looking into things like a home security system with LifeShield. When your family and assets are protected, you’ll all have peace of mind and be able to continue consistently working towards where you want to be.
- Come Up With A Plan
Come up with a plan that you think will help you to meet your goals if you need it – some people like to work backwards from the end goal so they can create a clear path from where they are now to where they want to be.
- Get Into The Habit Of Visualizing
Visualizing is a technique many people use, and it’s effective for a number of reasons. Athletes use it to beat their PBs, and it can be used to help you, too. All you need to do is keep that clear picture in your head of where you want to be, and luxuriate in it for a while each day. What does it feel like to you? What do you see? How do you live? Get those feelings everyday and you’ll continue working towards where you want to be.
Visualizing can help you to change your mindset and your actions so that you are in a better space to reach your ideal financial future.
- Write Out Affirmations That Resonate With You
Affirmations are another way you can begin changing your mindset, as they can challenge any limiting beliefs you may have about money or your ability to make it and live the life that you want. Make sure your affirmations resonate with you, and remember that they should actually make you feel good when you repeat them. Write them out, put them somewhere you can see them, and feel them/think them/say them as often as you can.
- Become Aware Of And Take Inspired Action
You can change your mindset as much as you want, put if you stay on the couch and hope somebody simply knocks on your door with a solution for you, you might be waiting an awfully long time. When you feel inspired to do something, do it! You might want to start a side hustle or look into passive income ideas, for instance.
- Save An Emergency Fund
An emergency fund will give you peace of mind and allow you to avoid credit, which is essential if you want to reach your goals.
- Find Ways You Can Reduce Your Living Expenses
Find ways you can reduce utility bills, food shopping bills, and other living expenses. Do this regularly so you can build wealth.