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Weekend Story
It was a Saturday morning. We woke up early. My husband had an appointment at 9 AM. We got ready and left home. Fifteen minutes later, we arrived at the destination.
The host was already there waiting for him. You know, that gentleman’s grooming ritual. I sat down and waited patiently for my husband under the sound of an amazing soundtrack.
I watched people coming and going from stores and from their weekly groceries. Some were happy, others not so much. I checked my phone and read some messages.
At 9:45 AM, we're ready to go. We didn't have huge plans for the rest of the day. The aim was to take easy and stick to our calm Saturday routine.
I suggested having a coffee with a croissant, something light would be ideal to last until lunchtime.
We agreed and found the perfect place. As usual, he ordered a long coffee with milk and I opted for a coffee latte.
We paid the bill and waited for the order. My husband thanked and asked the attendant: "We want to keep the receipt so we can do our accounting later."
The attendant replied: "Okay, here it is." And she asked us with an air of curiosity in her voice: "How do you organize your finances?"
Surprised by the question, we smiled. My husband briefly explained her our system.
She said: "I have been working for over 35 years and have never had a budget. It takes a lot of time, discipline and effort."
My husband replied: "Yes, it requires upfront effort, but it gets easier with time.”
I thought to myself, everything in life requires energy from us. Your body, your home, your car, your marriage, your job, your relationships. Everything requires effort and maintenance to thrive.
We said goodbye to the attendant and found a place outside to enjoy the summer breeze and have our late breakfast. We sat on a bench near an Acacia tree.
Under the shades of that tree, we reflected on the conversation we had minutes ago. Our financial journey of the last seven years appeared in front of us like a movie.
Among croissant bites and coffee sips, we looked at each other and concluded: “We are on the right path”.
“If you don't know where you are going, any road will get you there. ”
1. Commit To Wealth
How do you inspire people to live their greatest lives?
Choice is the beginning of all journeys. We choose our life every day. I think the longest journey of all is the one where you never take the first step.
Wealth is not an accidental outcome but the result of deliberate choices and actions. You got to take the first step.
When you decide to be wealthy, you commit to adopting habits and behaviors that facilitate financial growth. This decision involves setting clear financial goals, creating a vision for the future, and developing expertise in wealth-building strategies.
Being committed to wealth transforms how you perceive and handle money. It moves wealth from being a distant dream to a tangible goal.
Cultivate a positive relationship with money, view it as a tool for creating opportunities rather than a source of stress or limitation.
Money should not be the primary preoccupation of our lives. Decide to be wealthy - this mindset shift is fundamental.
Our focus should be on the true nourishment of life - faith, health, family, work. Cultivate a daily relationship with God, yourself, others, and your craft.
"Formal education will make you a living; self-education will make you a fortune."
2. Personal Accountability
Take responsibility for your money and financial situation. Learn to say ‘no’ to people, things, habits that do not align with your life mission. I'm certain you heard this before.
I believe you desire to live a life of impact, abundance, and significance. Am I correct?
This requires you to make intentional decisions on how you dispose of resources every single day of your life. It’s a trade-off game where time and opportunity are your biggest players.
Financial matters impact our lives for better or worse. Run your numbers and identify where you stand. Are you drowning in debt or multiplying your money?
This means understanding where your money comes from and where it goes, and making informed decisions about spending, saving, and investing.
It’s essential to create a budget and track your expenses, as I covered in editions #018 and #020. This exercise allows you to identify wasteful expenditures and redirect funds towards more productive uses.
Taking responsibility also involves planning for the future, including building an emergency fund and preparing for retirement.
By being diligent and disciplined in managing money, you can avoid unnecessary debt and build a solid financial foundation for you and your family.
“Living in scarcity or abundance is a daily choice. How do you choose to live?”
3. Save Diligently
Pay yourself first. A core principle in wealth-building is saving a portion of all income. When you prioritize your long-term financial health, you're committed to your future self and lifestyle.
Keep a portion of everything you earn. This means setting aside a percentage of your earnings before allocating money to expenses.
Experts say the recommended starting point is saving at least 10% of your income, but the key is consistency.
By adopting this habit, you can accumulate significant savings over time, providing a buffer against financial emergencies and enabling investment opportunities.
Paying yourself first can be a helpful strategy for folks looking to save more, spend less and live consciously.
Engaging in this practice not only improves your financial security. But also fosters discipline and empowers you to shape your financial future.
"A big part of financial freedom is having your heart and mind free from worrying about the what-ifs of life."
4. Financial Efficiency
Discover strategies to optimize your existing earnings and utilize available resources to the fullest potential. Identify small, incremental changes that can lead to significant financial improvements.
Stretch your money. This can involve negotiating better deals, learning new skills, reducing unnecessary expenses, and finding alternative sources of income.
Be creative and resourceful while looking for opportunities to save and invest wisely. By paying attention to your numbers, you can make steady progress towards your financial goals without requiring drastic lifestyle changes.
For example, simple strategies like cooking at home instead of dining out, buying quality items that last longer instead of cheaper, short-lived alternatives, and leveraging tax-advantaged accounts to maximize savings.
Invest in assets and projects that you believe in and build wealth over the years. When compounded, these minor adjustments can lead to substantial wealth accumulation.
"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for."
5. Give Back
Life is not just about money. It’s about health, love, family, relationships, trust, community, balance, and spirituality. It's a cycle of giving and receiving.
True wealth is not just about financial abundance, but also about making a positive impact on the lives of other people.
Contributing to others expands your life circle. The most fulfilling use of money is to help others broaden their life's experiences.
Giving back to the community and helping others can take many forms. You can donate money to charitable causes or volunteer time and skills to a cause of your choice.
Like a smile, generosity is contagious. When we're generous towards anyone, even someone we don't know, we open up gates for new opportunities and attract positive energy to our wealth journey.
Generosity drives optimism. It creates a sense of purpose, joy and fulfillment, enriching the giver's life and fostering a sense of gratitude and connection who receive.
Financial peace isn't the acquisition of stuff. It's learning to live on less than you make, so you can give money back and have money to invest. You can't win until you do this."
Final Thoughts
I just shared timeless wisdom for those seeking to improve their financial situation and live a more prosperous life.
These lessons are not just about accumulating wealth but also about cultivating a mindset and lifestyle that supports long-term prosperity and fulfillment.
I hope you'll enjoy reading this article as I’ve enjoyed writing it. That's all for today.
“Discipline will take you places motivation can't because your goals don’t care how you feel.”
Talk to you next week.
Light and peace,
—FMV
PS: Summer is here. Drink water, apply sunscreen, repeat. 🏖🌞
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✍️ Written by Fabíola Maia-Veres every Tuesday at 7pm.
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