Financial Independence: Week 2

Good morning, afternoon, or evening, 

How did it go last week reflecting on your financial independence? Are you ready to work to improve it? Are you ready to work to sustain it? Even when you reach “financial independence”, you have to work to keep it. Financial independence brings stability. Stability is a byproduct of financial independence that helps you to make decisions based on what you can control. It isn’t based on the situation or the environment.

I can remember a time when I had a flat tire. My only option was to purchase a used tire. I never considered purchasing new tires because I knew I couldn’t afford it. Did I have stability at that moment? Depends on how you look at it. I was stable enough to afford a $25-$30 used tire without breaking the bank. But I wasn’t in a position to get what was best for my vehicle, a new tire. In order to gain stability in your finances, you have to see what weight you need to lift. So how do you gain stability? Start lifting weight, aka start saving. Your savings will give you the stability that you desire. If you don’t think you have desired this stability, let me ask you a question. Have you ever tensed up when you saw an unexpected bill? Or rubbed your head when you have an unexpected medical bill? Don’t forget about your family emergencies. Sometimes you have to make an emergency trip home. If any of these things give you flashbacks to budget frustrations, your stability needs to be strengthened. Every time you add to your savings you strengthen the stability of your finances. Let’s work on that definition with this week’s information. Financial independence provides the stability to handle the unexpected. 

This week's challenge:

Start Saving! Set a goal for each check to put something in your savings account. If you have been saving, is it time or you to increase that amount? 

If you are ready to take your finances to the next level, Join PughFC accountability group for only $20/month. The information is below. I’m Latrisa Pugh, your financial coach that will help you understand your money and position you to live the best version of your life. 

See you next week...

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