Financial Freedom has different meanings for different people. Some view financial freedom as being free from all debt and others view it as being free of all debt except their homes, cars and housing expenses such as utilities and food. Whatever your view may be on the definition of financial freedom, make sure that you have a plan to get there.
I would like to invite everyone who takes the Financial Wellness Assessment, to do damage control. What do I mean? Debt…Activity…Management…Assets…Growth…Earnings
Ask yourself these questions:
- How much “Debt” do I have?
- What kinds of “Activity” is taking place on my debt freedom journey? Am I aware of how my money is being spent or am I oblivious to where it’s going?
- What’s my level of financial “Management” skills? Am I financially literate? Am I a student, consistently improving my mode of operation? Am I reading on personal finance, attending workshops or receiving counseling from an expert in this area?
- What are my “Assets”? Have I recently sat down and reviewed my net worth lately?
- What are the metrics for my financial “Growth” from a literary stand point? How do I know if I am making progress? Have I scheduled an appointment with my financial adviser lately to review my investment strategies?
- Are my “Earnings” covering my current living expenses? If not, do I have a plan in place to make the necessary adjustments?
Becoming free from debt takes hard work. Start by defining what financial freedom looks like to you. The next step is understanding the depths of where you are financially and taking action to make the necessary changes. Some essentials needed to work towards financial freedom are identifying your bad money behaviors and replacing them with good ones. Create new disciplines and remain committed to the process.
By taking the financial assessment, you will receive a Free subscription to my blog that will encourage and empower you while on your debt freedom journey and a Free consultation with the expert.
You are encouraged to leave a comment or share the outcome of your assessment. E-mail me at firstname.lastname@example.org.