Achieving financial freedom is a journey that requires discipline, hard work, and dedication. While you can automate many tasks (including investmentts), most of the work will involve rolling up your sleeves and getting things done. How can you stay healthy and sane when the pressure to achieve your financial goals is rising? Use these helpful tips to guide you on a path to better well-being.
What is Financial Freedom?
Financial freedom means completely controlling your finances and living the life you want without financial worries. If you are currently working on achieving financial freedom, you should be dealing with creating a budget, eliminating debt, saving aggressively, and investing for the long term.
Tracking your income and expenses to understand where your money is going and prioritizing your financial goals is also essential.
Dealing with all these challenges, tasks, and activities that the process involves will often mean saying no to many things you have enjoyed doing before.
So, here’s the million-dollar question — what should you do to make the transition to financial freedom more effortless and less stressful for your mind and body? Here are 7 tips you may find helpful.
7 Top Tips to Prioritize Your Well-Being
Here are a few things you can do to prioritize your well-being:
1. Practice self-care: Financial stress can negatively affect your mental and physical health. Make time for self-care activities like exercise, meditation, or spending time with loved ones.
2. Invest the money you used to spend on bad habits: Start by identifying your bad habits and how much money you spend on them each month. Then, set clear financial goals and choose suitable investments to redirect your savings toward achieving those goals.
Bondora tip: You can use Habitica or Noom to work on your habits.
3. Celebrate your progress: Celebrating your achievements along the way is important. When you reach a financial milestone, take the time to acknowledge your hard work and give yourself credit where credit is due.
4. Invest your time in doing sports: Regular physical activity can help reduce stress, improve your mental health, and increase your energy levels, which can all contribute to your overall well-being.
Bondora tip: You can use the tools such as Peloton, MapMyRun, or Fidbod to keep your motivation for sports high.
5. Stay motivated: It’s easy to get discouraged when working towards a long-term goal. Stay motivated by tracking your progress, seeking support from friends and family, and visualizing your future success.
6. Take breaks: Building financial freedom takes time and effort, but it’s essential to take breaks when you need them. Don’t be afraid to take a day off or step back from your finances when you need to recharge.
7. Keep learning new things: Pursuing new hobbies or interests can help you develop a sense of purpose and meaning outside of work and financial goals, providing a healthy balance to your life and helping you cope with stress more effectively.
Bondora tip: Here are some apps to help you with this task — Coursera, Duolingo, Khan Academy, and Blinkist.
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