Are you feeling like you have way to many things on your radar, you are extremely busy, yet not getting anywhere? This overwhelming feeling often occurs when you do not have clearly defined goals, timelines and priorities. This can be quite detrimental for your main goal of financial freedom as the more you try to do at once, the less you will feel like you are in control of the outcome.
It is quite simple to get you back on track: slow down, refocus and prioritize.
Yes, you heard me right. Slow down is your number one priority. When you are trying to go too fast, you miss the things that are really important to you, after all, that is why you set out on your financial freedom journey, so it is important that you keep them in mind.
To help you refocus and regain clarity on what you are trying to achieve, make sure you take your time to list down all your goals.
The first step to regain clarity and focus is to work out what the most important goals you want to work on right now. Make sure that you divide your personal goals from your professional goals, whilst align them with your values. i.e. if you value more time with your family, consider whether a career that requires you to be working 70 hours a week is the way to go? I’d say not!
Take time to figure out how much money you would need to be making to be free. This can get a little confusing as many people think about big dollars, the fancy lifestyle. But to be free, all you need is passive income that covers your current living expenses.
So break it down:
How much money do you have to make to achieve financial freedom?
What do you need to make it happen? i.e. pay down debt, create another income source
In what time frame do you want to achieve that?
What skills/attributes do you need to make it happen?
Who can help you?
Doing this exercise will help you see what you need to do first, so you can start prioritizing your steps.
To achieve your financial freedom you need to create a roadmap. So if you have a massive amount of bad debt right now, you are not going to be jumping in to create another source of income first. Common sense dictates that your first priority goals will be around debt reduction.
Once you have your high level goals in place, and you have chosen your first priority, you can start to break things down further. So if debt reduction is the aim firstly, focus on paying off your smallest debt first and work your way up – I’ll teach the exact steps in my Abundant Mind Toolkit!
The reason you want to achieve the smallest step first is to prove to yourself that you can stick to what you set out to do and because you get to feel like you are progressing.
A mistake people make is after achieving the first milestone they stop because they didn’t have the second step, to financial freedom, ready in the ladder. So make sure you set out your path. Once you have got rid of your first debt, which one is next. Once you only have investment debt, will you start focusing on savings?
Plan it out, map it out and track your progress!
Ok, so you have your main goals, you have set up your priorities for now it is time to write your goals. Make them measurable, make them specific, time bound, and believable, yet a bit of a stretch. Make sure that your goals are driven by your values or you will not get going or give up at first sign of trouble. Once you have written them down, map your goals out in your calendar. Most importantly track your progress.
A secret tip to make things happen, is tell people about what you are trying to achieve. Achieving financial freedom can be a challenge if you try to do it alone! We can help to make the journey easier. Start with our Powerful Goal Setting Masterclass to gain clarity and become unstoppable.