3 Steps to be Financially Well-Off


After I bought my house and started blogging in May 2016, many of my friends were coming to me for advice on how to invest and save. They saw that I bought a house, backpacked around the world a few times, and graduated university debt-free. Truthfully, I am still learning every day. I also know that Financial Well-being is personal and depends on individual lifestyles (earning, saving and spending).

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People often focus on salary and how much you make but if you’re making $50,000 and spending it all, racking up credit card debt, don’t have an emergency fund, and living a life you can’t afford, that doesn’t necessarily mean you have financial well-being. Financial well being is about having choices, freedom, flexibility and security.

  • Think about well-being in the present and the future
  • Think about Security:  Do you have enough for your daily and monthly expenses, and FUTURE (an emergency fund)

Financial wellbeing is also about choice.

  • Do you have enough financial freedom to make choices that make you happy WITHOUT COMPROMISING YOUR SECURITY?

3 Steps to get Financial Well-being

  1. Making changes always starts with a MINDSET. You need to envision something, set goals, and then take steps to get there. Success doesn’t usually fall on your lap.
  2. Mindset changes are then FOLLOWED BY BEHAVIOUR CHANGES. That could be changing your spending and saving habits
  3. AND THEN ACTION: Make more money, automate savings, reduce your spending and set your goals.

If you are interested in financial independence and wellbeing, check out these resources:


 

Want to keep up with more stories and free resources? Follow me on Twitter @ambitiousadults and Facebook 

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