5 Things To Do To Make Your Finances Stronger

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Money is meant to support and serve you.

Money is meant to make you to feel safe, provide for your needs, enable you to do and have the things that make life joyful and do the “heavy lifting”  – a.k.a earning the income –  when you no longer feel like it.

If that thought seems more LaLaLand than Ryan Gosling and Emma Stone and you feel more like a slave to money instead of its master, then read on and discover 5 ways to make your finances stronger and claim back your power around money stuff.

  1. GET YOUR FINANCIAL FIREMEN READY TO CATCH YOU

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Life happens and with it comes “to be expected, unexpected events” often with nasty little price tags attached. The washing machine implodes; your car splutters to a standstill; your fur-kid has a medical emergency …

Having an emergency fund in place to deal with these events ensures the impact is contained and doesn’t ripple out across your finances derailing your savings and investments or causing you to go into debt; all of which have significantly bigger long term costs.

An emergency fund is a lump of cash (aim for £800, US$1 000, €900, R10 000) that sits in it’s own account waiting to be called upon in a real emergency. (Having more month than money isn’t an emergency – that’s just poor planning – see point 4). Your emergency fund is your personal financial fire station. Most of the time your money will be playing table tennis or spinning down a pole doing nothing much except being ready to save you when you need it most.

  1. SHED THE BAGGAGE – LIGHTEN YOUR LOAD

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Excess financial baggage weighs you down, sucks the joy from day to day living, makes achieving financial freedom tougher and increases your vulnerability to financial disaster.

Financial baggage is any financial commitment you made in the past which now costs you every month. This comes in various forms – subscriptions and memberships (i.e. cell phone contracts, gym); service contracts and insurances; emotional money commitments (helping out parents or adult kids) and lifestyle choice contracts (i.e. rent, mortgages and consumer debt).

Have a baggage shedding date with yourself by diving into your bank account/s and seeing what money has exited from your life in the past three months. Look at each expense and ask yourself “Do I get massive value from this and does it bring me joy?. If it is a no to either, then cut it out of your life immediately.

Each bit of financial baggage you shed creates a double positive impact to your financial strength. The lighter your cost of living is, the fewer assets you need to be financially free and the less you have to spend on expenses means you have more to put into your saving and investments accelerating the build up of your assets.

  1. SEND CONSUMER DEBT A DEAR JOHNNY

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 Consumer debt is pure kryptonite to your financial strength.

If you owe anything on credit cards, overdrafts, store loans/cards, car loans, bank loans, etc, you are in a disastrous, depleting money relationship with the lender  – a relationship that is always bad for you and needs to be terminated.

Every bit of consumer debt you break up with and eliminate from your life will make you stronger.

If you have consumer debt in your life commit to clearing it from your life forever.

To help you break free from debt fast and forever, GO HERE to get a free masterclass from The Wealth Chef

  1. BE A MONEY BOSS

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Sadly most money flounders around in the dark with no clue as to what you want from it and ends up drifting on to somewhere and someone else because you haven’t given it attention and bossed it around.

You get financially stronger every time you tell your money what you want from it.

That means taking responsibility for your own financial wellbeing, getting clear on what is really important to you and giving your money clear instructions as to where it needs to go and what it needs to do both now and for your future.

You tell your money this by having a clear spending plan, identifying what money is going where and what value you expect in return. This includes the money that goes into your savings for future expenses and to buying assets to create your financial freedom.

  1. PLANT A FREEDOM SEED EVERY MONTH

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Your financial freedom is secured by a forest of assets which earn money for you to live the lifestyle you want without you having to work. This is made up of investments in the stock market, investment property or businesses which grow in value and produce income which you live off.

You become financially stronger when you make your financial safety, wellbeing and financially free future the most important bill you pay each and every month. The bill you pay is to buy investments which grow in value and with time become your freedom forest.

The good news is that investing is much simpler than we have been led to believe, quality investments are very affordable and accessible and you can automate the whole asset buying, planting and growing process putting your freedom on autopilot.

Learn how to safely and successfully invest in the stock market using index trackers in a free masterclass with Ann Wilson and passive investing guru Nerina Visser.

Let me know in the comments below:

How many of these 5 actions are you already implementing in your life and which new one will you add into your life to keep moving towards your freedom where your money stuff is more than strong enough to hold all of you and your desires?

 Get that money working hard – I promise you it want it 😉

Big love

TWC_Ann_Signature_spaced

 

 

 

 

 

To find out more about Passive Investing and How to Invest In Index Trackers Simple, Effectively and Safely– Join Nerina Visser and me, Ann Wilson – The Wealth Chef, for a special FREE “Passive Investing 101”Masterclass.

Go here to get all the details on the FREE Masterclass and to reserve your seat >>>

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6 Comments

  • dorothy says:

    i am unable to watch webinar and join in but i am very very interested in a step by step help programme on how and what to do with the financial tracking. my husband and i are in our early 60’s and in huge debt (mortgage) and are starting to get a bit panicky. we have little to no spare cash so cannot afford to lose even a few dollars. can you pls help us to set up a programme and to get it running so that we begin to generate extra income. also my husband is a brickie/concretor and he is soooo tired. please help us. im not very techno minded and doing something different (other than emails) scares me silly.

  • james musyimi says:

    wow,at long last ,have got what i was searching for.

  • rashida says:

    thanks for your courageous word ann wilson its really changing my life
    the second one shed the baggage

  • Karien van der Merwe says:

    Hi,
    We do not have an emergency fund…yet. please advise whether I can use all the free money i discover every day to build up an emergency fund?
    Best regards, Karien van der Merwe

  • Sarah says:

    Ann, my husband and I have been watching and reading your emails for over a year now. Although we have been implementing many of your strategies for years, like having an emergency fund and squeezing the juice out of our daily living, we also pay ourselves first. But while we have some assets, knowing how to make them really work for us and having a clear plan to our financial freedom eludes us. Our children go to private school and there have been medical expenses along the way but when we look at our future we fear we will come up short. So I made the decision to join FFU but we both question whether PIMMS would have been a better choice. My husband is afraid that I just signed up for another program without fully thinking it through and maybe chose the wrong one. Curious to know what you think.

  • Sheila says:

    5 / 5
    – Emergency Fund was ready for washing machine technician callout AND for new machine when techie condemned the old one, as not-worth-repairing.
    – Reduced cellphone contract monthly sub and cancelled magazine subs
    – Cut up store cards when the retailer wanted R25pm for the ‘privilege’ of having a card – haven’t bought anything for months. Use credit card/s like a debit card and clear every month – unless budgeting for airtickets and holiday (never take longer than 3 months to pay) if other funds are tied up eg Fixed Deposits – pay attention not interest
    – BS and IS and Budget/Spending Plan under control and Money Date Night weekly
    – Planting Freedom Seeds – all.the.time! Automatic and Found Money

    Thank you so much (and Nerina!)

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