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Financial Freedom Doesn’t Just Happen; It’s Earned

Posted on April 1, 2013 by Jen

Have you ever wanted something so bad that you can taste it? That’s how I’ve felt for the past few months when it comes to the idea of financial freedom. While it’s not exactly consuming all of my thoughts, it’s definitely taking up real estate in the conscious and subconscious regions of my brain. I have an insatiable desire to be free from the shackles I wear due to my debt and lack of passive income.

Granted, most would think I’m pretty darn close to being financially free because the only debt I have is “good” debt–a wee bit of student loan debt locked at 1.625% for life and my mortgage, which is locked at a low interest rate as well. I’m also doing well with my efforts as a freelancer, bringing in over $10,000 last month.

But I disagree because my personal definition of financial freedom is being 100% debt free and, in turn, being able to do whatever I want with ALL of my money. I look forward to the day when I can live my life as I see fit and have the financial means to do so. Hey, a girl can dream, right?

Or more fittingly, a girl can work.

My Philosophy for Achieving Financial Freedom

I’ve read a plethora of articles and blog posts about the idea of financial freedom. Of the hundreds I’ve come across, I can’t remember a single one that highlighted how to achieve financial freedom other than giving the standard tips of pay off your debt, invest your money, reduce your spending, blah, blah, blah. While these things are important, what’s missing is the idea that you have to work for it–that even if you follow all of those wonderful 5 or 10 steps, you still have to keep hustling to make your financial dreams come true.

If you don’t do the work, nobody else will. And making haphazard attempts to get closer to your goal won’t cut it either. You need to be dedicating consistent effort and time to your quest for financial freedom, and you have to realize that it won’t happen overnight. There’s not going to be some magical day where you wake up and decide, “I now have financial freedom!”

Sounds like a no-brainer, right?

Today’s Choices Impact Tomorrow’s Opportunities

Unfortunately, so many people spend their time paralyzed with money fears or spinning their wheels doing things that derail them from their progress that they lose sight of the end goal. Sometimes they’re so focused on the day-to-day and immediate gratification of the now that they can’t understand how today’s choices impact tomorrow’s opportunities.

These behaviors do nothing more than cause people to lead a life of paying others first, relying on others to pay them so they can live their lives and worrying about how they’ll overcome the obstacles and challenges life so regularly presents us with. None of this will help you achieve financial freedom–it actually confirms you’ll never have the freedom you so desperately crave.

But…there is hope if you’re willing to work for it.

How I’m Working to Achieve Financial Freedom

Each time I write a goals post or recap the previous month’s success (or struggles), I do so in order to analyze what’s working and what’s not working. I track my numbers in an effort to maximize my efficiency and to make room for bigger opportunities that can help me reach my goal of financial freedom even faster.

When I find something that’s working for me, I give it more effort, attention and time. I might celebrate a large milestone with a short-lived “pat myself on the back” moment, but then I’m right back at it instead of resting on my laurels.

If something isn’t working? I consider other ways to make it successful before abandoning or replacing it, but I won’t waste my time with trying to put square pegs into round holes. My time, work ethic and motivation are my greatest assets and I’m not about to squander them on fruitless efforts that detract from my ability to meet my goals.

In other words, I work for it. I’m constantly striving to better my financial situation, and I’m always learning from my mistakes just as much as I’m capitalizing on the opportunities that come my way. Thankfully, somewhere along the way in this crazy financial journey of mine, I realized that financial freedom doesn’t just happen; it’s earned.

How are you working to achieve financial freedom?

Photo credit: meddygarnet

Increased Productivity = More Money in My Pocket

Posted on March 5, 2013 by Jen

This Thursday marks my 3 week anniversary of quitting my full-time job. While I’m still somewhat adjusting to the new schedule (and freedom!) this choice has brought, I’m also navigating the waters of being semi-self-employed. This means figuring out how to maximize my time, learning to turn down opportunities that might not be the best strategic fit for my overall efforts, defining times of the day where it’s all work and no play and getting my network on.

Given the increased flexibility of my new professional life, I’ve also found myself more motivated than ever to tackle various projects around the house. Given my status as a bona fide HGTV junkie, it’s been difficult for me to set clear hours for the DIY ~~disasters~~ projects I attempt while also making sure I keep up with all of the extras that will help my online efforts (I’ve got the assignment/deadline part down, but I’m sorely lacking in the commenting and social media departments).

After some careful contemplation, I realized one very obvious, smack-myself-in-the-face correlation:

Increased productivity = more money in my pocket. Duh.

Those extra hours spent DIYing, running or catching up with friends are fun and are doing wonders for my quest to have a better sense of work-life balance, but they aren’t going to pay the bills. I’m a natural planner, so it’s time I define some rules around how I want to maximize my time, productivity and income generation.

If You Hustle, They Will Come

One of the easiest reminders of how hard work pays off is the influx of opportunities I’ve been presented with since testing the waters back in November (it was a calculated, carefully planned choice to make this transition). It’s really a quite simple formula, but for so many of us including me, it’s easy to forget the power of simply working your tail off.

I need to step up my game to ensure that I’ll still have future opportunities, and I need to make sure I’m doing so in a sustainable manner that will allow me to capitalize on the best options I’m presented with.

Stay Organized

I’ll admit that I waver in between a Stepford Wives-ish organized neat freak and a hot mess that needs ten reminders to keep her head on straight (attractive description/range, yes?). But the key to navigating my sometimes scatter-brained existence is to know this about myself; to know that I need an iron-clad organization system that will keep me on the straight & narrow.

My solution is an old-school approach: I love me some Post-Its. And while you might wonder how I can keep them all straight, I’d say that I’m not sure how but it just works for me. If something goes on “the” Post-It for the day, it will eventually be crossed off even if it means staying up until 1AM to do so.

I also love Excel and my iPhone calendar, but I prefer a gigantic wall calendar. I’m still toying with the idea of painting a huge rectangle on the wall with white board paint and creating a life-sized calendar to map out my projects. While I love the idea of this, I’m not so sure the BF would love a 12-inch reminder in bold, red letters for me to “COMMENT ON THE BLOGS, DAMNIT!” (these are the most effective reminders for me)

Turn Off Distractions

One of the best ways I’ve found to increase my productivity is to turn off distractions when I need to get my work done. Such is the case right now as I have the FB and Twitter off, my Gmail minimized and the office door closed. By reducing the amount of outside noise that competes with my attention, I’m more easily able to slay my to-do list and stay focused while crossing things off of it.

If you ever need to get some work done and have a tight turnaround time, shut off the email and cell phone–you’ll be amazed at how much you can bang out in a short period of time (five, 600+ word posts that aren’t garbage in 2.5 hours, check!).

Get Up and Dance

Seriously. Whatever you’re doing right now, even if there are witnesses, get up and bust out, at the very least, a little shimmy. Revel in the silliness of doing so long enough to forget the task you were working on (yep, forget it entirely–especially if you were stuck).

Now sit back down and be amazed at what that 20 second timeout just did for your focus. I find that when I randomly take breaks, whether it’s to dance, sing (horribly) or just daydream out the window for a minute or two, I have a renewed sense of focus and my productivity soars.

At the very least, I get a good laugh out of how ridiculous I am when I think nobody is watching…that is until I hear a random snort of laughter because my BF caught me (again) in the act.

I chose the photo above because it best depicts what would happen in this scenario–I’m attempting to dance (more like just thrashing around wildly because I have no rhythm to save my life) while my BF just stands there, covering his face & shaking his head….

What are your tips for increasing your productivity?

Photo credit: Klearchos Kapoutsis

Personal Finance and Lance Armstrong: What You Can Learn from Lance’s Fall from Grace

Posted on January 23, 2013 by Jen

A few months ago, mentioning the name ‘Lance Armstrong’ invoked the following thoughts: strong, courageous, survivor; role model.

These days? The name might as well be synonymous with liar and cheat.

When faced with such outrageous news of a national hero’s veritable fall from grace, it’s only natural to feel some sort of betrayal; especially if you are an endurance athlete or cancer survivor.

But rather than harp on Lance Armstrong’s apparent shortcomings, why not learn from his mistakes?

For a man who has amassed a fortune from multi-million-dollar endorsement deals and six-figure event/speech appearances, Lance’s current situation illustrates that he can actually offer the average person a wealth of personal finance tips and advice.

Understand Your Limits

There clearly is a time when enough is enough. Whether it’s overspending, not paying your bills or simply (temporarily) resolving yourself to a lifetime of financial apathy when faced with a money-related challenge, there comes a time when you need to cut your losses and get yourself on a better path.

Clearly, Lance’s lies have caught up with him. What he chooses to do in the coming months could be anyone’s best guess, but it’s a great reminder that you need to gain control of the situation you’re in before the situation completely ruins you and the people/things you love most.

Get Your Head Out of the Sand

Any time there is foul play or bad behavior involved, there’s also a hefty dose of denial involved. Don’t follow Lance’s lead–do yourself a favor and face those debt balances, track your spending and/or set yourself a budget (and adhere to it!). There’s no amount of ego that can save your credit score or overdrawn bank account from entering the throes of despair after you make terrible financial decisions time and time again.

Get Over Yourself

This is probably one of the hardest financial pills to swallow: If you’re in serious debt or are living beyond your means, you have nothing to prove to anyone; you’re not winning at anything other than setting yourself up for future failure. No matter if you’ll do anything to “win,” you’ll be stuck in a maelstrom of mess if you continue to make the same financial mistakes over and over.

What you need to do is eat a gigantic piece of humble pie and realize that keeping up with the Jones’ isn’t all it’s cracked up to be. Just as Lance Armstrong’s endorsement deals, a fat bank account can disappear in an instant if you’re not careful. Being full of yourself to the point of arrogance with decision making is a sure-fire way to destroy your chances at a stable, sufficient financial future.

Think Creatively

Despite the drama surrounding Lance, he’ll continue to live a comfortable lifestyle that most low and middle-class Americans can only dream of.

Why?

Because he’s savvy in his ability to parlay his life experiences into sources of capital. While we’ve already heard how J.J. Abrams snapped up the rights to a film about Lance Armstrong, it’s only a matter of time before Lance begins to rake in money for speaking appearances, book deals, etc.

So whether you’re looking to cut back on your expenses or find a way to bring in extra income, there’s one page from Lance’s story you can steal without guilt: Be creative. Pursue options that are unique, applicable and enjoyable for your situation.

After all, you never know when a current opportunity may turn out to be the key to your future success.

What else can we learn from Lance Armstrong’s fall from grace?

Photo credit:DonkeyHotey

Don’t Sacrifice Passion in Lieu of Paying the Bills

Posted on January 9, 2012 by Jen

Have you ever felt so bogged down by your various responsibilities that you find yourself wondering what the point of the daily grind really is? Have you ever found yourself craving more purpose in your life? Do you think that you can’t follow your passions and pay the bills at the same time? You’re not alone!

Too often, we get lost in the daily minutia of our lives and lose sight of the value of having an outlet for our passions, hobbies, and personal interests. I’ve read about and spoken to far too many people who believe they are “stuck” in a job they hate/dead-end position/an industry they have little interest in merely because they have to pay the bills.

While I’m not advocating you just up & quit your day job, I am officially challenging each and every one of you to make room in your life for something you’re over-the-moon passionate about. Here’s a few ways you can do so:

Look past your job.

Nobody ever said that your job must be aligned with your passions. Of course, this is perhaps the Holy Grail of employment opportunities, but it’s also something that might not be in the cards for you right now. So look beyond the job. Are you a budding rock star? Moonlight as a guitar player/singer at a few local mic nights. Do you love to garden? Create one in your own yard or on your porch. Love the arts? Take a class at your local center for adult education.

Remember that service breeds passion and satisfaction.

Helping others is helping yourself–it’s documented fact that people who volunteer consistently have increased self-confidence, are less susceptible to depression, and stay physically healthier than those who don’t give back. Volunteering is a wonderful way to connect your life with your goals and interests. Hello, passionate, fulfilling lifestyle!

Revel in gratitude.

Still convinced that your job needs to provide money and fulfill your passions? What about having no job at all?! What about not being able to give back or take on extra endeavors because you’re not able to work at all? Shift your perspective and you’ll be amazed at the myriad of benefits you’ll enjoy from doing so.

Be flexible, patient, and focused.

Perhaps you’re not where you want to be at this moment in life, but don’t let that stop you from working your tail off to get where you want to be. Flexibility and patience are sorely undervalued traits in our go-go-go, fast-paced world. Don’t fall victim to this negative groupthink. Chart your own course at your own pace and revel in the fact that you’re on your way to doing great things!

The Happy Homeowner

Living a Healthy, Balanced Life One Cent at a Time…

Category Archives: Zen