If financial freedom and abundance is your goal, you’re likely to get the best results if you combine your favorite Law of Attraction techniques with a concrete plan that focuses on practical transformations.
This 30-step path to financial freedom and abundance helps you see money in a more positive and productive light and teaches you to strategize in a way that supports long-term financial freedom.
Let’s start by looking at how you can make these 30 steps into an inspiring success!
Start by being honest with yourself about how you think and feel about money. What do you believe about it, and what emotions does it bring up?
Next, write down five benefits you're excited to see when you achieve financial freedom. Finally, resolve to take full responsibility for your money, and affirm that you can change in a way that leads to abundance.
Conduct a broad overview of your financial situation, making some notes about your approach to spending, whether you plan ahead, your saving strategy, your typical way of budgeting, whether you ever get any expert help with your finances, and if you have a good record of setting and keeping financial goals.
Don't judge yourself negatively here; the goal is just to get a sense of how things are, and what you might want to change.
Look for financial loose ends you can tie up; get rid of things that make you think about financial difficulties from the past.
File necessary documents away and shred statements you no longer need.
Set the stage for success by creating a spot in your home that's dedicated to doing productive financial work.
Make it a positive place that's conducive to focus and clear thinking, and consider getting a new binder or box to devote to the forthcoming paperwork from your abundant future.
Thanks to the FCT Act, you have the right to a free annual credit report, so get hold of one for a helpful review of your finances.
This information lets you know if you’ll have any issues getting insurance or renting a home, and if it’s looking good then you should be able to get additional credit if you ever need it.
If you see something wrong with your credit report, file a dispute and include the relevant documents. Your claim should be investigated within a month, and you’ll get the details of the result as well as a new copy of your report if it has changed.
Build an accurate image of what you’ll have in the future by drawing a map of how your income will change over time. Write down specific goals and timeframes to make your path concrete.
Visualize the desired improvements in your head, and allow yourself to feel the pride and excitement that comes with abundance. Aim to do this for 5-10 minutes every day.
Evaluate your current debt, and if it’s significant then make debt payoff a priority. Figure out how much you can pay back, and when; even this act will give you a sense of productivity and accountability for what you owe.
Write down a list of needs and wants (e.g. buying a car, taking a vacation, getting rid of debt), classify them (i.e. as a need or a want), and then rank them in terms of importance. This will help to set financial goals at a later stage.
All throughout your financial wellness journey, focus on goals that are S.M.A.R.T.; specific, measurable, achievable, rewarding, and trackable.
If a potential goal doesn’t tick all those boxes, reformulate it until it does.
Goals also fit into three broad categories: short-term (within 2 years), mid-term (2-5 years), and long-term (more than 5 years).
Be sure to classify all of your personal financial goals in one of these three ways, and make sure you have something in every category.
Opt for one of the two most effective strategies for tackling debt; either start with the smallest and work your way up or start with the one that has the highest interest rate.
The first is rewarding and encouraging, as progress is made very quickly. Meanwhile, the second saves you the most interest in interest charges over time.
Expect the unexpected by aiming to have enough money set aside for 3-6 months of living expenses, just in case something goes wrong.
Not only does this preserve your financial wellness, but it also takes a weight off your mind.
Start assessing and planning for your retirement savings.
For example, seek the advice of a planner, make sure you participate in any retirement plans at your work and be wary of cashing out early (which incurs more penalties than people often realized).
Once you’ve set clear financial goals, it’s important to regularly remind yourself of them. Write them down and put them up where you can see them (e.g. on your fridge or near your desk), and create a dream board representing the abundant future you’re striving for.
Almost all of your major financial freedom goals will need you to save, so give some thought to the saving strategy you’ll adopt.
To save wisely, consider making some extra cash from a hobby (e.g. something you can create or do), sell off old possessions you no longer need, put any unexpected earnings into an interest-bearing account, and try to set aside a particular chunk of your income each month.
Work out your variable expenses. These are the ones that change every month (e.g. groceries, services, food, and healthcare items), and the ones you have the most control over. As such, logging them can give you great ideas for specific changes.
Now turn to your fixed expenses, which don’t vary by month (e.g. rent or mortgage payment).
They can’t easily be changed, but logging them does give you a clearer sense of what you can afford to save and how much money you need to survive each month.
Periodic expenses are not monthly, but are regular (e.g. vacations and tax debts). These often break people’s budgets because they don’t get planned for; so plan for them!
Determine what they’ll be this year, and be honest about them (e.g. gifts and projected car expenses).
For at least a month, create a document dedicated to tracking absolutely all of your expenses; from cheap bus tickets to major purchases. This process not only shows you places to cut back but also encourages the habit of accountability.
Challenge yourself to come up with 10-20 small ways to save money; these will all add up. Good examples include cutting soda consumption by a liter per week, making lunch instead of buying it, and getting secondhand books.
One of the best things you can do is buy generic brands at the grocery store, which often taste just as good (or better). It’s also smart to make a list before you go to the store every time, and stick to it (rather than being pulled in by tempting offers). Meanwhile, plan meals ahead and think of ones that involve cheap but hearty ingredients.
Tell other people about the things you’ve done so far to enhance financial freedom, and spread positive energy about abundance. Ask them for their ideas too, and consider incorporating the best ones into your routine.
Don’t let your attitude to your finances stagnate. Instead, make a habit of looking over your budgets, your spending patterns, your savings account, and how you feel about finances more broadly.
If something isn’t working for you, change it. You’re looking to not only have more money but also to feel better about money.
Even if you don’t view yourself as having a lot of assets, it’s important to have a will.
If you have children, this allows you to name guardians, and even if you don’t have kids you’ll get the peace of mind of knowing how assets will be distributed. And once you do sort out a will, keep it somewhere safe and private.
Whenever you apply for credit, read through all the terms; it might seem tedious, but it’s important (and allows you to compare the terms of various options before making the right decision).
Be sure to look at the interest rate, length of the loan, credit limit, grace period, late fees, and finance charge.
As good as your financial skills may now be, you’ll also benefit from having a team of professionals.
This can include a tax advisor, financial planner, and lawyer. Ask friends and family for recommendations, and don’t be afraid to meet with a few people before making a decision.
Take time to celebrate all you’ve achieved so far on your path to abundance! You’ve faced a lot of challenges, but the payoff will be well worth it (and likely already is). You might benefit from writing a short account of what you’ve achieved, or from sharing your story with others.
Finally, take stock of what you’ve done, and affirm your ability to attract financial positivity into your life. Then move forward in your life of abundance with confidence, knowing you can manifest even more money.