Sometimes, there are things we know we should do but put off again and again. We always have excuses. We have more urgent things to do. There are more important things that require our attention. I am so guilty of this! (Although I really have my hands full right now! Promise!)
One thing that I have been putting off was starting my journey to financial freedom. Last June (my goodness! That was months ago!), I received a financial journal from Avida Land. I did browse through it when I first got it but never took time to really delve into it. I realize now I should have made time for it sooner!
The journal includes very specific actions we can take on our path to financial freedom. It starts with a guide on how to determine whether you are financially fit. Once you have figured out where you are financially, you are then guided on how to make your own roadmap. It also lists several investment options and advice on how to choose which one is most suitable for you. As you go through the journal, you are encouraged to make a commitment to achieve your long-term financial plans.
Taking the First Step
As with everything we do in life, it all begins with the first step we take. In this road, our first step is to determine where our finances lie by creating a Cash Flow Statement and a Statement of Assets and Liabilities. Sounds daunting, right?! Good thing the Avida financial journal has made this easy by providing step-by-step instructions on how to make them. What wasn’t so easy was finding out that we’re not in such a good state.
Thus, I now feel compelled to start a new fitness regimen – a financial fitness regimen!
What I Should Do!
The same way we discipline ourselves in the way we eat or exercise, we must also learn how to discipline ourselves financially. This is my focus now. We really don’t spend much on unnecessary material things and don’t splurge on expensive branded clothes and accessories, but we do spend a lot on food and leisure activities. Before I move forward to finding investment options, we must make sure we have enough to invest in them. So, this is my mantra now: SPEND LESS THAN WHAT YOU EARN
By cutting down on some unnecessary expenses and going back to our habit of setting aside a portion of our income, I think we could get back on track soon.
My Fitness Regimen
So far, here’s what I’m committing to do:
- Allot a portion of our income to savings. Set them aside right away!
- Eat out less often.
- Make a budget and stick to it!
- Do a weekly review of expenses.
- Find other sources of income. (business ideas anyone?)
With my new financial fitness regimen, who knows, maybe we could have more than enough for that dream house we’ve been pining for.