When it comes to finding new ways to approach financial challenges - it can feel impossible to know where to begin. Many of us have the notion that the solution to our financial challenges are a one-size fits all. But the truth of the matter is that no financial solution ever looks the same. No matter how alike your lifestyle is to your mentor, friend or even myself - we all have different goals. I mean, sure, you might be saving for a down payment or your child's education but there's so much more than just that.
Thinking about the things that I was taught about finances, and the things I did well - make me realize that: I read, I experiment, I do well and celebrate, or I do poorly and I forgive myself and then - I try again.
But like everything in life, it comes down to trial and error and most importantly the work you are willing to put in.
So, how can you evolve your finances in 2022?
Talk About Your Finances
It's 2022, and many of us still avoid conversations that pertain to M-O-N-E-Y. We have come to discuss sex more openly, yet we struggle to talk about our finances. If you are serious about figuring out your finances this year then start by talking to someone you feel comfortable with. If you have no one you feel comfortable to talk to then consider booking a free financial reading with our wealth coach. Start with dreams and what you are saving for, then make it a topic you can regularly discuss with your friends, family or peers.
It's a fun and easy way to to gain support on your financial journey and will make you realize you are not alone.
This little effort provides you with a reflection of your movement in your life. Take a week to record everything you spend your money on and then have a look and ask yourself:
What's no longer serving me?
What am I not doing that I need for my wellbeing?
Start making changes immediately, and don't be afraid to ask for help or support for changes to your schedule.
You are in charge of you. Make a schedule that allows for rituals to revitalize your body, soul and mind - including a good nights sleep. Good sleep makes for a clear head and good decisions. Bad decisions and habits sneak in when you are not alert.
Financial challenges can cause highly emotionally charged time. Use that emotion as fuel and inspiration for your next step.
Be The Leader
In times of financial challenges I have returned empty beer bottles from house parties for quick cash so I could afford to buy a weeks worth of cheap packets of noodle mixes. It was a rite of passage in my 20's. More recently, when I've had to scrimp when the economy hits a wall, it has just felt like a failure. But in both cases, I always stashed a bit of cash away.
Try putting weekly cash envelopes for the small stuff like groceries and coffee but before sealing pull out 10% and put it into a savings envelope or account.
Find a way to enjoy more while spending less - 10% less. Do this every month for the next 6 months.
The final and biggest tip I have for you is...
Whether you are earning $150,000 or living pay check to pay check - time has the larges influence on our finances.
Manage Your Time
The biggest challenge I hear is: 'how do I continue to be myself amongst the noise?'
Society in all of its form - social media, partners, kids, friends, family, pets, and peers - they all pull us. We have different parts of ourselves which need nourishing and only we know what we need and only we can make time for that.
Your weekly schedule is just as important as your bank account statement.
Need help actioning these tips? Sign up for AFIREFi to connect your money, yourself and your life.