Money and your relationship to it spell how you determine your financial future. Achieving financial freedom could lie in the way you view having money. So how should you approach walking the path to financial freedom?

Mindfulness and Gratitude

Meditation or journaling can help you be aware of your conscious and subconscious beliefs on money. Few financial advisors will tell you that.

Along with a vast majority, you may have a scarcity mindset, one that believes: “Money doesn’t grow on trees.” Being mindful of negative thoughts such as this can help you switch to a mindset of abundance, one of balanced finances.

Cultivating a habit of gratitude also has a powerful impact. This may sound cliché but being always thankful for financial gains, large or small, will put you in a position that somehow invites more benefits. Be thankful for the littlest things like being able to pay for internet access or buying a tasty snack whenever you want. Create a record of your thanks for daily financial wins in a gratitude journal.

Develop a Healthy Relationship with Yourself

You must develop a healthy sense of self-worth if you want to make and keep money. Believe that you are worthy of the happy things in life. Money is simply a tool to help you live the life you can enjoy. A healthy self-regard will prevent you from being so attached to money that you’re scared of losing it.

Cut Debt and Create Financial Goals

Resolve to be financially stable first. Pay off your debts and start a savings account.

Track your expenses. Ideally, spend only half of your income on living essentials while tucking away 30% as personal savings. The remaining 20% should be saved for future investments.

At first, use a productivity planner to write down micro-goals. For instance, start by saving just $5 a month. The idea is to get used to seeing your goals transform from abstract to practical to-dos you can account for. From there, you can set bigger goals and see how much income to aim at.

Educate Yourself

As your savings increase, you may want to think about investing. Learn from books, online resources, and financial advisors so you don’t fear investing. This way, you may get well ahead of inflation and keep yourself more financially secure.

Financial freedom means being in control of your money and your attitudes toward it. Healthy long-term perceptions about your finances are gained from habits of mindfulness, gratitude, self-awareness, avoidance of persistent debt, financial goal setting, and educating oneself on money matters.

Photo Credit: Marigladskaya