Mini Financial Freedom Plan

This week we celebrate the anniversary of our nation’s freedom.  It’s also a great time to craft a liberating plan of your own.  Here are four steps to take this month to assert your own financial freedom:

There’s an amazing power to putting your intentions to pen and paper.  Write your goal for July on a card or piece of paper.  Add notes, illustrations, stickers (OK, I’m obviously a mom of a four-year old), or whatever makes it tangible for you.  There’s lots of studies that show the benefits of writing down your goals. Put it on your fridge or your mirror, your dashboard in the car, or at your desk at work – wherever will keep it forefront in your mind as you make financial decisions.

So often we spend money without thinking about resources we already have.  It doesn’t have to be a full no-spend month, but aim for a week with minimal to no groceries and no eating out.  Lay siege to that pantry and freezer and get creative.  Myfridgefood.com is one of my favorite sources for ideas on using up what you have lying around.  (Unless that can of tuna is four years old.  Please toss that.)

Find one way to make some extra dollars.  Still have a working KitchenAid in the garage you could put for sale online? Clothes, knickknacks, or furniture for a yard sale?  Not only do you make a little greenback, but you declutter your home.  That’s double the freedom.

This is the biggest bang for your buck!  Celebrate by using that earned money where you need it most.  Stop a payday loan cycle.  Pay off a credit card.  Open an online savings account.  Rocket’s red glare is delightful… unless it’s your checking account that’s in the red.  Use this month as an opportunity to break that cycle.
Everyone’s financial situation is slightly different, but we all benefit from the same freedoms.  We get caught up in a rut of unnecessary spending and a downward spiral of fees and interest.  Whatever your specific implementations, take these steps to financial freedom – of mindful spending, having a mindset of earning potential, and investing where it benefits most.  Likewise our own national freedom wasn’t earned in a day, but in multiple battles as wills clashed.  Little wins along the way lead to a big celebration of freedom in the end!