Achieve Financial Wholeness: 8 Key Strategies for Success, Wealth, and Peace of Mind
Key Point:
By following these tried-and-true steps, you can achieve financial wholeness and get your money working for you. As you go through life, your finances and goals will change, but you can always return to these eight steps to navigate the different stages.
Achieving financial wholeness means that you have a clear understanding of your financial situation and have developed habits and practices that promote financial stability and growth. It is not just about having a large bank balance or earning a high income. Instead, it's about being financially empowered and making informed decisions that can lead to long-term financial success.
Here are eight strategies for achieving financial wholeness:
Develop a Healthy Mindset Around Money: Your relationship with money is crucial for financial wholeness. It's important to develop a healthy mindset around money, which includes understanding its value and the role it plays in your life. Avoid negative self-talk about money and focus on positive affirmations about your financial goals.
Have A Solid Budget : A budget is a financial roadmap that helps you manage your money, save for the future, and achieve your financial goals. By creating a budget and sticking to it, you'll be able to build a solid foundation for your financial future.
Make Saving a Habit: Saving money is a crucial part of achieving financial wholeness. Make it a habit to save a percentage of your income each month. Start with a small amount and gradually increase it over time. You can automate your savings by setting up automatic transfers from your checking account to your savings account.
Become Debt-Free and Boost Your Credit Score : Debt can be a significant roadblock to achieving financial wholeness. Pay off your debts as soon as possible, starting with high-interest debt. Focus on building your credit score by paying your bills on time and keeping your credit utilization low.
Increase Your Income by Assessing Your Self-Worth, Building Your Skills, and Getting a Side Hustle: Increasing your income is an essential part of achieving financial wholeness. Assess your self-worth and negotiate your salary or hourly rate if necessary. Build your skills by taking courses or attending workshops. Consider starting a side hustle to generate additional income.
Make Your Money Work for You by Investing for Your Retirement and Wealth: Investing your money is one of the best ways to make it work for you. Start by investing in your retirement accounts, such as a 401(k) or IRA. Consider other investment options, such as stocks, mutual funds, and real estate, to build long-term wealth.
Get The Right Insurance: Insurance is a crucial part of protecting your financial future. Make sure you have adequate insurance coverage for your health, life, home, and car. Proper insurance coverage can help you avoid financial disasters and increase your net worth over time.
Engage Financial Professionals to Help You Reach Financial Wholeness and Leave a Legacy: Working with a financial professional can help you develop a personalized financial plan, achieve your financial goals, and leave a lasting legacy for your family. Consider working with a financial advisor, accountant, or estate planner to help you navigate complex financial issues and build wealth over time.
Achieving financial wholeness requires a combination of mindset, habits, and practices. By following these eight strategies, you can take control of your finances and achieve long-term financial success. Remember that achieving financial wholeness is a journey, and it requires patience, discipline, and perseverance. Start today, and you'll be on your way to achieving your financial goals and leaving a lasting legacy.
Actionable advice: Make your credit score jump like Jordan.
To quickly improve your credit score, pick a small monthly debt, like your Netflix bill, and get it charged to a credit card that has a $0 balance. This bill should be the only thing the card is used for. Now, auto-pay it each month after the statement closing date. By bringing one of your card’s balances to zero every month, your credit score will “jump like Jordan!”
