Five Ways To Secure Financial Happiness During This Global Crisis
By Finnian Kelly
Right now, the world is taking a massive financial hit. The markets are in turmoil with big swings back and forward and lots of people are worried about their financial security and what this crisis means for the money – as well as their health, their lifestyle, and everything in between.
As counter-intuitive as it sounds, there are opportunities you can lean into right now – especially with your finances. Take positive, practical actions today and you could create financial peace of mind on a level you’ve never experienced before.
It’s tough, but it often takes a crisis for people to decide to increase their financial comfort zone and sort out their relationship with money.
So if you know you could be in a stronger position, this is your time. You’re not going to get a better chance to get your head out of the sand and lay rock-solid foundation for long-lasting Financial Happiness.
And to get you started on this path, here are FIVE positive and practical steps you can take NOW to get your finances moving forward.
1. Find calm after the panic
Have you noticed that it’s extremely difficult to make confident decisions when you’re filled with panic, fear, and overwhelm? These reactions are entirely normal right now. We’re not clear on the future and with the situation unfolding so rapidly, it’s hard to find any solid ground.
Fear is useful because it does bring your focus to things that require your attention.
But unless you take action, you’ll remain on the merry-go-round to nowhere.
Take proactive steps to create moments of calm in this chaos. Conscious breathing is one of the most powerful ways to do this. Take three, deep, conscious breaths and notice how much more centred you feel afterwards.
Conscious breathing also takes you into the NOW. It helps to calm your overactive mind and brings your attention to what’s happening in the moment. When you live in the NOW, you can access the wisdom of the NOW. You’re less likely to get distracted by fearful thoughts, and as a result, you make better choices.
There are plenty of different ways to access the now. You could choose to make this the perfect moment to practice some of these for yourself. You’ll discover 21 ways to live in the now in this article.
2. Be intentional with your spending
One reason we put off saving, investing, or building a Get Out Of Jail account is because we don’t think we have spare cash. Instead, we promise ourselves we’ll start when we get a bonus, a pay rise, or a new job.
But without discipline, this promise rarely maps out. We end up expanding our lifestyle into our new income level!
This current situation is the perfect opportunity to unlock the spare cash that currently exists in your monthly income and your spending habits.
There’s no better opportunity to be intentionally more frugal. If you’re spending more time at home, you can take stock of where you no longer need to spend money. You can also practice intentional spending. Ask yourself if you really need that purchase. If you don’t, save your money and invest what you save into your future life and your current security.
If you consciously reduce your outgoings now, you can leverage your new habits to build future wealth and transform your wealth-creation path.
3. Use this wake-up call to sort your finances
Use this time to get your head out of the sand. The time for procrastinating and delaying on your money management is over. This is your opportunity to get your situation firmly under control.
I built a highly successful wealth management company on the back of the last recession in 2008. In moments like these, there are always financial winners and well as those who miss out. You can choose to be in the former category. Make this moment your financial wake-up call:
✔️Get real with where you’re at – even if it’s painful. The pain of regret will soon pass, and then you’ll be in a different place entirely. And if your pain comes from not knowing what to do, that will soon evaporate when you’re empowered with the facts you need to take action.
✔️Take stock of your insurances and take action if you haven’t got adequate precautions in place. You never know when you might need them again.
✔️Start to build up a Get Out Of Jail Account. Even if you only have a few hundred dollars to start with, something is better than nothing. What’s more, with the account live and an intention to save each month, your emergency fund will soon grow.
✔️Review your outgoings and spend intentionally.
✔️Allocate a higher proportion of your money to the things you care about most.
Things won’t be perfect in the beginning, but at least you’ll have a plan – and plans at times of uncertainty create peace of mind.
You don’t have to do any of this alone. We help our members get everything set up, so their finances move forward on autopilot.
4. Consider investing [but only with expert guidance
As I mentioned already, some people are going to make a lot of money out of the current financial situation. With the right strategy, that could include you. In fact, this could be the opportunity of a lifetime if you take the right steps.
Past events show us that markets do recover. It can take time – years even – but this is your millennial advantage. You can afford to invest for the long-term. This means if you’re able to buy when the market is at its lowest, you can see significant gains in the years ahead.
I’m investing now – as are many of our members. They can invest with confidence because they’re being directed in their strategy by their WE Guides.
If you want to explore this option, please speak with us.
You can book a free Financial Happiness Call to talk about the possibilities and opportunities. And if you choose to become a member, we can get your investment strategy set up and operational.
5. Work on yourself
Unless you have a few million dollars in assets, YOU are your most valuable financial resource. That means you can accelerate your wealth creation by investing in your own learning and development.
Now could be the perfect time to learn a new skill. You could sign up for a new course, sharpen an existing skill, or get creative about how you can add value to your workplace.
If you become more valuable, you’ll be able to attract a higher level of income, which gives you more opportunities for your future investment strategy.
This might be a longer-term tactic, but if you use this global pause to figure out what’s coming next, you could get yourself ahead of the curve and put yourself in a much better position when some sense of normality returns.
Remember, be practical and positive
Wealth-creation is a combination of strategy [practical] and mindset [positive]. One without the other will create growth, but combine them together and sow the seeds for a quantum leap.
I invite you to make this commitment to yourself now.
Remember, you can emerge from this situation financially happy or financially fearful.
You get to choose which one it is.
WE want to empower you to come out of this situation financially happy. So book your Financial Happiness Call and take your first step.
Disclaimer: All information contained within this article is of a general nature. Do not rely upon it when making financial decisions. Please consult a professional financial advisor or planner (like us!) before acting.