In a world where your value and your worth is dependent on your salary, it can be hard to keep a positive outlook on life if you aren’t currently raking in the big ones. Now, I’m not talking about your worth as it relates to your personal identity and who you are as a person; I’m talking about your worth as your bank account would describe it. So often we hear people talking about the all-too-familiar stereotype of the “broke college student”, barely able to hold down a job while being a full-time student and consistently not having enough to make ends meet. Some may feel discouraged upon taking one look at their account balance and immediately lose a hold on their identity, while others avoid smart finances altogether. But here’s a shocker:
IT DOESN’T HAVE TO BE THAT WAY.
Here are 7 ways you can start securing your financial freedom:
1. An understanding of where it comes from will either keep it coming or cut it off.
The money you make is exactly what it is: earned. You worked hard for that paycheck, so why squander it away on trivial things you don’t need? When you develop an understanding of where it comes from (your time and hard work), it becomes easier to save it because you wouldn’t want all that effort to be done in vain. Saving means more in the long run, and we wouldn’t want to be abruptly cut off and left out in the cold, now would we? Didn’t think so.
2. What you pursue determines what you possess.
This one is pretty straightforward: devote yourself to achieving financial freedom and you will, in time, actually possess financial freedom. If you pursue “worthless” things in life, you will be left feeling the repercussions of foolish behavior, and therefore feel worthless. Pursuing goals that mean something to you, like financial stability for example, will ultimately drive you to achieve it. Think about it: no one likes falling short of an attainable aspiration. Pursue smart finances, and you will see good things come from it.
3. What you spend will always be more important than what you earn.
It makes sense, I promise. What you earn is what you earn; it’s a tangible, physical manifestation of your dedication and ambition for a bigger purpose. But if you spend it all away, there’s nothing to hold anymore. You could spend your paycheck on the biggest, best item fathomable but if you are left with nothing afterward, the item doesn’t really matter because you’re left high and dry in the end, just trying to pay it back or pay it off later.
If you think of it in terms of grammar, the word “payment” can be looked at as a contraction of sorts. Just as “won’t” and “can’t” are contractions for “will not” and “cannot”, payment is just a contraction for “pay me not.”* Setting aside 10-15% of your income will guarantee you a cushion to fall back on should you decide to splurge on something one day or need to pay a payment. As difficult as it is to leave the 10% alone sometimes, it will be there for you when the rest of your money decides to up and leave. Trust me.
4. The discipline of saving is more important than what you save.
When it comes down to it, what is going to get you farther: the habit of saving or sporadic saving? The answer is obvious; the discipline of saving will ensure a stable financial future because it is the slow building up of money over a longer period of time. When you only save occasionally, you only have excess money at random times which I think we can all agree sounds pretty unstable, and that just makes me anxious. “When will I have money and when will I be broke? Do I have enough to cover this week? Did I remember to save this month?” Spare yourself all the unnecessary anxiety and angst and get into the habit of setting aside a portion of your paycheck now, and you won’t have to worry about it later.
5. Grow whatever you sow.
Nothing will grow if you don’t give it proper attention and care, and your money is no exception. Your bank account isn’t likely to grow if you neglect it, be it by forgetting payment deadlines, digging yourself into a detrimental credit hole, or what have you. Being attentive to what you put in (or what you sow), take out, and keep will keep you accountable in making the effort to be on top of your game when it comes to finances. Nothing grows overnight, but it lives longer when it’s given proper care. Be vigilant about payments, save it up and you’ll be rollin’ in it later.
6. Sustained generosity will be the guarantee for sustained financial success.
They say it’s better to give than to receive, and there’s a reason for it. When you give, not only are you positively impacting the lives of those who need it most, you are giving them an opportunity to impact someone else. As mentioned previously, this world equates your worth with your income, and if you have little income you feel of little value. Generosity counteracts this societal belief by spreading love and care, two attributes that go much farther than money and work miracles on a negative self-perception of value. Extending grace and mercy should become a habit, because money can only go so far. Money acts as a kick starter, but seeing someone’s life change because of your act of generosity is much more valuable than the few dollars you have in your pocket.
7. Finally, obedience will determine abundance.
Following the guidelines to financial freedom will guarantee that you never stray far from the path. Abundance only comes from being dedicated to making a change, whether it be in your life, in someone else’s life, or both. You are much more than your bank account, so don’t be discouraged if you don’t see immediate results. As long as you stay obedient to what matters most, you will always have enough.
Attaining financial freedom is simpler than it’s cracked up to be. Taking it step by step, and day by day will give you peace at mind that you are doing everything in your power to reach your goal. Your income doesn’t define who you are. Rather, who you are is determined by what you decide to do with your new found abundances. So spend them wisely.
* payment is not actually a contraction for “pay me not”.