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Sarah Spencer
Step 1: Becoming Financially Self Aware
At Q Sciences, we practice better self-care. Not in the form of bubble baths and pedicures, though we’re not saying a little TLC isn’t a step in the right direction. When we say self-care, we’re talking about taking care of ourselves so we can flourish in all areas of our lives — including financially.
After all, avoiding unnecessary financial stress to focus on what really matters is what self-care is all about.
Improving our financial situation, just like improving our health, losing weight, and getting in great shape, starts by addressing areas in our lives where we’re falling short of our goals. Unfortunately, that may mean overcoming our bad financial habits, becoming accountable for our shortcomings, and deliberately moving forward with a goal in mind.
Just as starting weight is a metric for getting in better shape, we can assess financial health by examining our financial situation in these five areas:
- Debt
- Emergency fund
- Retirement plan
- Life insurance
- A solid plan B with Q Sciences
We all have past baggage tied to every aspect of our finances and there’s no shame in accepting responsibility and committing to do better. After all, we can’t know where we’re going if we don’t know where we’ve been. Eliminating bad debt, building an emergency fund, securing retirement, making sure life insurance is in place, and introducing a plan B revenue stream can all take time. Financial independence, like Rome, wasn’t built in a day.
What’s Your Financial WHY?
Building financial security begins by determining what creates value for YOU!
Is it possessions and experiences, or it is financial security? A big house, nice cars, vacations, stretching your means — does “stuff” make you happy? Or does a feeling of security, having an affordable mortgage, manageable car payments, and having enough to save every month, trump the latest iPhone in your pocket?
Either way, beginning your path to financial security is impossible without identifying your WHY. As you work every day to trade your energy and effort for money, only you can determine what you really “need” vs what you just “want.” The goal is to become financially self-aware enough to address the habits that are holding you back from true financial freedom.
