I feel frustrated with the financial road I’ve been on. It bothers me that my financial situation limits my freedom, flexibility, and opportunities. It makes me sick. My financial life slowly fell to ruins but now it’s time to dust myself off and rebuild.
I can place blame on a lot people and situations. It’s a waste of energy. The responsibility rests on my shoulders. Ultimately, I’m the one who has the power to shape my future. I can stay on this comfortable yet miserable trajectory or I can make decisions that get me back on track. I need to fix my finances so I can build a strong foundation for my dreams.
My mom and dad taught me well. They taught me how to save and invest for the future. My mom encouraged me to save and invest my money. My dad always stressed savings and sacrifice. I spent long hours at the library absorbing personal finance books. I did well in high school and my freshman year of college. I loved that time at the library. I saved and invested a decent amount of money.
However, this plan lack of balance. I was living for tomorrow and not enjoying life today. All the money I saved and invested went towards a future I may not see. A lot can happen in fifty years. I may not see that money. I need to live well in the short term while looking out for the long term. Slowly, I lost my way. I developed bad habits my friends had because I felt miserable. I began focusing too much on the now.
Chasing dreams that weren’t mine was another problem I encountered. I invested too much time and money on a dream that wasn’t mine. It took a toll on me mentally and spiritually. I did things that my heart and gut told me I shouldn’t. Because of this foolish quest, I am overwhelmed with debt. This puts me in a position where I can’t live the dream that I want to dream. At least, I no longer carry the burden of someone else’s dream.
So what do I do now? How am I going to fix my finances? This is what I am doing over the next year.
- Dream big. Plan big. Small steps. It’s important to know the long view and the strategy behind it while making tactical decisions along the way.
- Prioritize. Focusing my energy on select goals will help me build momentum.
- Be Frugal and Thrifty. Make smart spending decisions that will maximize my limited resources.
- Increase My Income. The more I earn in less time, the more resources I can use to repair this problem.
- Letting Go. After learning from the past, it’s important to let go of it to invest energy into future.
- Simplifying. Simple goals and simple systems helps prevents me from getting overwhelmed. It’s easier to manage things and troubleshoot problems.
- Automation. Creating systems for repeatable tasks frees resources to concentrate on other problems.
I envision myself out of student loan and consumer debt by the end of 2017 IF I stay the course and focus. Being free of debt will open the door to almost endless possibilities. It will give my heart free reign to go where it desires.
If you are financially free, what would you do and where would you go with it?