Finding fulfillment in your finances can be one of the most daunting tasks that any of us face throughout the year. It can be worse than finding the energy to put on gym shoes and working out. If you’re just plain tired of worrying about money I want to share with you 6 steps to finding fulfillment in your finances. These simple steps can change your mindset and your results.
1. Work To Develop Multiple Streams of PASSIVE Income
Developing multiple streams of passive income means working smarter not harder. The difficulty comes from people trying to re-invent the wheel. One of my favorite ways of creating passive income as a small business is by providing digital and physical products I developed for consumers to purchase where, how, and when they want to online. The secret to creating passive income is YOU because you already have the knowledge, you have a solution to a problem people know they have, and you don’t have to be a techie, have a list, or a lot of income to develop a passive stream of income. Of course that isn’t the only way, you can become an affiliate of products/services you believe in, you can get involved in Multi-Level or Network Marketing, or you can invest in stocks, bonds, trades or even real estate. So when you hear the rich get richer and the poor get poorer the ultimate way they find fulfillment in their finances is they earn more and work less, and now you can to.
2. Invest for the Future
There are two ways to invest- people at work or money at work. Make your money work for you. People at work make a living; money at work creates a fortune. Money at work is why the rich get richer. Invest money confidently, competently, and conservatively. Money is a touchy and private subject, invest in companies you trust, consult with professionals you know, and talk about the pros and cons as well as length and return of investment before making a decision to invest.
3. Live Below Your Means
This suggestion is contradictory to what most of us believe, because we are accustomed to credit cards, loans, and other debt digging forms of payment. The third key to finding more fulfillment in your finances is to reduce non-essential expenses. Avoid unnecessary debt. Living below your means is a way to give you a measure of control and help you achieve financial freedom. The payments for your mortgage, car, credit cards, and any other debt you have accumulated should be less than 37% of your gross monthly earnings. Sock away 10% or more of your pretax income each month. Question every purchase. Utilize the drives, needs, and awards that motivate you in order to live below your means and incorporate financial discipline into your life. This discipline throughout time will carry over into other aspects of your life and you will find you are happier, healthier, and wealthier.
4. Improve Your Credit Score
5. Strive to Achieve Great Results with Fewer Resources
The person who can do this will always be in demand. Don’t throw money at every problem-throw creativity and brain power instead. One of your greatest assets is using the resources you do have to be resourceful because if you can solve a problem with a checkbook you really don’t have a problem to begin with. Creativity allows inspiration to happen at the deepest levels increasing productivity, profitability, and credibility.
6. Embrace Lifelong Education
High Achievers go out of their way to pursue educational opportunities. Education does not necessarily mean formal or schooling, it means books, events, or other resources used to gather information on a subject that matters to you. Motivated people are learners, learners are earners. The investments you make in your own education can pay off handsomely, both financially and in the quality of your life. It’s important to recognize all skills are learnable, all business skills are learnable, all investment skills are learnable, and you can master all of these skills. You can learn anything you need to learn to achieve any goal you have in life. Identify your weakest skill and work on it every day until you’ve mastered it. If you commit to strengthening your weakest and most needed skills-and if you do that for the rest of your life-you’ll become one of the most competent, intelligent, sought-after, and highest paid people in the country.
There are many ways that you can find fulfillment in your finances but most importantly finding fulfillment doesn’t mean having money, cars, fancy houses, luxury vacations, etc…It means being able to contribute and give back to the community. One of the most important things we learn as a leader is we have the ability to pay it forward vs. paying it back allowing others the opportunity to finish rich too. You’ll never have a problem finding fulfillment in your finances by following these 6 simple steps.
Melissa Krivachek is President of Briella Arion is deeply & passionately committed to the growth & effectiveness of leaders, teams, and organizations. Melissa is a High Caliber Leadership, Sales, and Personal Growth Expert, Author, Speaker, Coach, and Life Enthusiast! To IGNITE your Purpose, Presence, Passion, & Profit visit Briellaarion.com or Ignite-Leadership.com.
Image Credit: Shutterstock.com