Financial Freedom 101
Studies show that up to a certain level more money does increase happiness. When you’re struggling to survive it’s miserable.
But beyond that point having more doesn’t increase happiness and actually can create an adverse effect. It creates stress as you strive to get more and keep what you have.
When you find the right balance it’s magical.
- Enough money so you’re not in survival mode yet, not so much you’re in protection mode.
- Peace of mind about your financial stability.
- Financial strength so you can care for those you love.
- Freedom to enjoy life and the time to do it.
- The means to help others with your time and money that brings true fulfillment.
- Mental and physical health as stress is reduced and you have money for good medical care.
Yet, how do we accomplish that? How do we find that balance?
First, realize there’s an amount for each of us that will bring the happiness we want.
But the answer is not just “more.” And it’s probably lower than you think. So set your goal to seek for contentment not wealth.
Second, focus on what you already have. Be thankful and enjoy it each day.
Oprah Winfrey said, “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never,ever have enough.”
Third, think through and write down that number. How much is enough income and net worth?
I did this years ago and continue to update it for inflation every year. It’s a helped keep me on track.
Fourth, figure out how you’ll accomplish those goals. Develop a plan and write it out.
Fifth, work the plan.
I’m amazed at how many people never even start. If you develop a plan and begin you will be far ahead of the majority of people.
If you want more articles with easy to understand financial tips comment down below. I have tons of tips to share with you that can get you closer to financial freedom!