This July fourth, we celebrated our nation’s independence. But there is another type of independence that we should be striving for – our financial independence! What is the definition of financial independence? It’s not that easy of a question to answer. Why? Well, because if you asked that question of three different people, you would get three different answers. Financial independence means different things to different people. For some it means being debt free. For others it may mean being able to retire at the age of 65. The beauty of the concept of financial independence is that there is no right or wrong answer. It is all based on what is important to YOU.
So what does financial independence look like to you? Take a moment to think about it. This is actually the first step to realizing your dreams. As an example, let’s use the common goal of a lot of people, to be debt free. What would it mean to you to be debt free? What would it allow you to do? How would it make you feel? For some people it would just bring peace of mind to know that they don’t have to worry about that debt hanging over their head anymore. For others it could mean stress relief in the form of a much needed vacation. Whatever your answer, write it down. Now close your eyes. Allow yourself a minute to just let your mind wander. Envision yourself without that worry. Or if you prefer the vacation scenario, picture yourself lying on the beach. How does it feel? What does it do for you? Do you possibly feel at ease and relaxed? That’s the emotion that we are trying to capture! That feeling will drive you to work toward and achieve your goal. Every time you have a choice of buying those new shoes, or not, remember that feeling you had when you had your eyes closed and were envisioning what it would feel like to be financially free. Think to yourself, “Is it worth it? Will the temporary satisfaction that I receive from buying those shoes be greater than the feeling I will get when I’m debt free?” Human are emotionally based creatures. We look for satisfaction. So let’s use that feeling to change our lives for the better!
Once you have decided what area of financial independence is important to you, call us! We have FIVE financial coaches who can help you on the path to realizing and achieving your financial independence. Also, if you are a veteran, or know someone who is, we have one coach strictly devoted to helping veterans with their financial goals. With a little determination, I feel confident that very soon you will be celebrating your own Independence Day – your Financial Independence Day!
By Angie Henderson, AFC, FFC Candidate