I get it you want to wake up in a beautiful spacious home overlooking the city from your floor to ceiling windows, with marbles walls so that you will always be Instagram ready. You dream of the day you can drive the car you’ve always wanted to drive, and wear the designer brands you’ve drooled over your favorite Instagram influencer wearing. First things first in order to reach any dream you may have you will need money #facts. I want to help you reach your first 5k because I believe if you can build up to 5k you can start reaching your goals.
Building my first 5k came in handy while I was building my living life on my own terms fund. I was really unhappy with my job and wanted to quit, but I couldn’t quit without having money in the bank and Of course being able to put a thousands dollars towards my debt in the final months came in handy while I was striving towards debt freedom.
#1 Develop the mindset to believe that the vision you want for yourself is actually possible.
“Whatever fills the space between your ears will eventually escape the boundaries of your mind and show up in your life and business- for better or for worse.” Weldon Long
If you didn’t grow up with a lot of money it’s easy to fall into the trap of thinking that there are certain restrictions to your success. “I can’t have this kind of life because no one in my family has this kind of life.” If this is a subconscious thought that you’ve been telling yourself it’ going to be hard for you to attract an abundant lifestyle because it’s not something that you really believe.
If you have buried negative thoughts around money and success, then they will show up in your life. In order to afford the lifestyle you want you have to reprogram your old negative limiting beliefs about money and success into positive ones. Your mindset is the first step to getting to the life you want because if you don’t first believe that it is possible you won’t put forth the effort and discipline in order to put in the work that it takes to get to your dream lifestyle. If you don’t believe that you’ll be able to make a certain amount of money you won’t be able to because everything starts with a thought.
#2 Get clear on which 1-2 goals you will focus on first
“It is not a daily increase, but a daily decrease. Hack away at the inessentials.”― Bruce Lee
If this year your goal is to become debt free, save up to buy your first home, buy a car, save $5,000 into an emergency fund and go on two lavish vacations it will be pretty tough for you to reach all of these goals at the same time. Which is why it’s very important to prioritize your goals and realize that you won’t accomplish all of your goals overnight or in a year.
Affording the lifestyle you’ve always wanted will take time and that’s okay. The internet has rushed us and forced us to believe that we can have it all at the same time. When it comes to reaching your money goals choose 1-2 goals that you will focus on and that’s it. When you only make a certain amount of money each month it’s important to be able to put a good chunk of your paycheck towards 1-2 goals rather than spreading your money over 6-7 goals and only being able to put a few dollars towards them.
#3 Just how having a healthy diet plays a role in getting snatched, your budget plays a huge role in reaching your lifestyle goals
“Don’t tell me what you value, show me your budget, and I’ll tell you what you value.”― Joe Biden
When I sit down to coach clients they have all wonderful goals that they want to reach, but when we create their spending plan there are many items that they forget to tell me, or they underestimate how much money their actually spending in certain categories.
If your goal is to get out of debt, being able to put as much money as possible to your debt balance is that’s going to help you reach your goal therefore having extra money left over after all of your bills are paid is important. This is also known as your cash flow. Once you know how much money you have coming in each month add up all of your expenses and subtract them by your monthly income and you should have a positive number left over. This is an important meeting you must get into the habit of having with yourself.
Alright let’s wrap this up you must first get your mindset in check and reprogram any negative or limiting beliefs you may have. This is a major key especially if you’ve grown up in an inner city or were the first in your family to go to college. Next is to make sure that you’re prioritizing your money goals choosing 1-2 goals to focus on at a time and realizing that you won’t reach all your goals overnight. Lastly make sure that your sitting down and creating your spending plan that you review weekly to make sure you’re on track with reaching your target goals.
There you have it, today I told you why these 3 key ingredients are important for you if you want to be able to afford the lifestyle you’ve always wanted. Many times the lifestyle that you’ve always wanted is fueled by a deeper desire you may have and whatever that desire may be you will need money to accomplish it.
According to Experian, the average balance on credit cards at the end of 2017 was $6,354. That is up 2.7 percent, from $6,188 at the end of 2016.2
The average student in the Class of 2016 has $37,172 in student loan debt.
Debt can feel like a huge burden that’s weighing your down, I know because I’ve been in your shoes I paid off $47,500 worth of debt and next Wednesday July 18th at 8:00 pm est I’m going to be teaching a free masterclass on what it takes to start your debt journey and help you get closer to your dream of becoming debt free. You’ll have to join my Free Facebook group The Young Yet Wise Community in order to attend the class.
See you soon,