30 Days to Financial Freedom

I am embarking on a personal challenge during the month of April that will hopefully create new habits to enhance my finances. My goal is to share with you my trials and tribulations on the areas of my life that I am looking to get a better handle on to improve my financial life.

To give you a little idea of who I am: I’m a working mom of two, married, and in my late 30’s. I am a homeowner (with a mortgage), college graduate, and have both an auto loan and credit card debt. I juggle car pools, extracurricular activities, meal time and more to make sure everything gets taken care of for my family. My time is precious, and so is my money.

Look for my daily posts on the Credit Union’s Facebook page. I encourage you to share your thoughts, stories and how you make it work in today’s busy world.

Here’s to your financial freedom!

It’s About Time

The anticipation of waiting for a good thing can drive you a little nutty.  I get this way any time I plan a vacation – even more when the date is less than a month away.  I especially feel this way when no specific deadline is issued to me (like a recent comment from a sub-contractor who told me he’d have some estimates within the next week or so, and I still haven’t heard any news).

When the power of decision is out of your hands, what can you do?

You can take control and put your energy into something else.  Sir Issac Newton’s Third Law of Motion teaches us that “(f)or every action, there is an equal and opposite reaction.”  When you will something to happen (without action), your result is most likely nothing.  Taking the time to put in some action (even in another area) can work for you to first of all get your mind off of that non-eventful goal.

The power of the mind to create opportunity is limitless, but the mind doesn’t work alone.  Take the lottery, for example.  Wouldn’t it be great to receive a windfall of an enormous amount of cash that would set you up for life (or even just a little bit)?  In order to be in the running for some lottery winnings, you have to buy a ticket.  If you are focused on financial soundness and comfort, then put in some work to get there.  Take the time to review your finances, get organized and establish a game plan to pay off debt.  There is some real power you can wrap your head around.

At the beginning of this year, I wrote down some financial goals for my family.  At the time, I had no idea how I was going to accomplish them, but I got to work on them regardless.  I wanted to have a clear understanding of how money enters and leaves our household (and bank account), and what we could consider assets.  It wasn’t until a couple of months ago that an opportunity to reposition some of our finances came to light, and although we could have taken advantage of this repositioning sooner, the timing was perfect.

Take the time to put in the work, and the synergy of your efforts will pay off.