It is very challenging to live a truly abundant life without the flow of money. While it is important to have peace and love in your heart, money will place a roof over your head and food in your stomach. Oftentimes, people like to downplay the importance of money to survive. However, it’s also important to recognize the importance of money in order to thrive. While money isn’t everything, it’s better to have a lot of it. When you’re able to acquire money and increase your wealth, you’ll be able to provide opportunities for yourself and those you love. The key is to transform. If you’re currently in a position of lack, know that you don’t have to remain there. There are quite a few keys to transforming your financial life.

Acceptance

First, it’s best to start by recognizing your financial status. If you are broke, this isn’t the end of the road for you. This is merely a temporary space you’re occupying. It’s not permanent, but you must accept the facts. Look at where you are from a financial perspective. Take a look at the habits that got you to where you are. If you have a ton of student loan debt or a mortgage that’s killing you, recognize the role the debt plays. If you are in a revolving relationship with a few credit cards, you have to stop. You can’t rob Peter to pay Paul. Be honest with yourself, and recognize the choices that led you to the space you’re in. It might not even be your fault. If you become ill and the medical bills piled up, that’s an honest crisis you didn’t create. If a spouse left you with a mountain of debt in your name, that’s their dishonorable deed. Though you might be in a challenging circumstance, know that there are ways to turn your finances around.

Analysis

Be honest with yourself regarding what you’ll need to do in order to change your circumstance. This might mean that you’ll need to get a second job, find a babysitter for the children or begin a side hustle. It’s time to look at your options. There’s a reason why people always say that where there is a will, there’s always a way. You just have to become resourceful with your resources. If there are after-school programs that you can sign your children up for, enroll the kids in those programs while you work a few extra hours. If you can find an extra side gig that allows you to work from home for a few hours each night, commit to that. Additionally, it’s imperative that you stick to a strict budget. Make sure that you give every single dollar a defined assignment. Once you know where each dollar is going, find ways to make your money work for you as well. If you use an online cash back program to purchase your groceries, you’ll be able to make a couple extra dollars on purchases you’d already need to make. Use coupons to cover different expenses that you wouldn’t typically use. Though it might feel foreign to use discount codes and coupons, you’ll be able to see those efforts pay off each month.

Action

Once you’ve developed a plan, execution is imperative. It’s easy to glorify the idea of a plan. However, it’s another concept to actually execute each detail with excellence and perfection. If you know that an online dropshipping boutique will allow you to make extra money at a rapid pace, consider big commerce enterprise or other options to keep your website running at a professional level. As you look for ways to take action and make extra money, don’t forget to make sure you leverage your funds as well. If you have a local thrift store where you can purchase items for really cheap prices, purchase those items to flip for a profit online. As you get consistent with this effort, you’ll be able to create more margin in your budget. Once you have more breathing room, you can use that money to invest in the stock market, foreign exchange market or real estate wholesaling efforts. You’d be surprised by how low the barrier to entry really is. Don’t make the assumption that you can’t afford to invest. You can’t afford to avoid investing.

Innovation

As you become innovative and intentional with your funds, you’ll find that you’re able to gain traction and develop success with your financial efforts. Don’t lose hope when you’re getting started. Since you’re changing your financial habits, you’re going to probably experience some internal resistance and struggle. However, it’s best to go inward to examine the reasons why you’re experiencing some internal angst regarding money. When you change your relationship to money, you can completely change your life. Be consistent. It’ll pay off in the long haul.

Spread the love