5 Must-Have Money Behaviors To Set You Financially Free

5 Must-Have Money Behaviors To Set You Financially Free

Are you pursuing financial freedom? Is that something you desire? If so, keep reading. If not, stop now!

I love learning about money, wealth and abundance. However, more importantly, I love sharing what I love about money, wealth and abundance. I have learned from several millionaires about financial freedom and what it takes to be financially free. Rather than take what I learned and implement it for myself, I want to do that AND share it with you. Get more lessons about wealth and money, join our community. See, it’s my goal to bring you along this journey with me. For us to pursue financial freedom together, there are 5 must-have money behaviors that you must adopt. You don’t have to know everything there is to know about them, you simply have to accept them and take them on for yourself. You can learn more about them as you live them out. Here are the money behaviors you need to have in order to experience the financial freedom you desire:

1.  Earning: Earning income is all about maximizing what you can bring into your financial house. If you have a 9 to 5, do you think that is your only source of income? It may be, but it should not be! If you are a business owner or entrepreneur, do you offer only one product or service? Right now, that may be the case, but you should have more than one product or service. You have got to realize that you are not meant to only have one source of income when you are pursuing financial freedom. You must explore ways to add more income streams and maximize your ability to earn as much income as you possibly can, while you can.

2.  Saving: Saving is pretty straightforward. If you do not know how to save, you will never experience financial freedom. Saving is a behavior that teaches you discipline and also sets you up for financial success. There are 4 types of saving (5 if you’re a business owner) and when you save for each of them, you’re truly covering all of your basis. However, the important piece to take away is that you have to save. If you spend all you make, how can freedom find its way to you? What’s left for freedom? If you’re not socking away something or more than what you’re currently socking away, how can you accomplish the goals you set? Start saving right away and save any amount you can. I don’t care if it’s as small as a penny a day. Sounds frivolous I know, but if you can’t consistently save a penny a day, then how are you going to save a $100 a month? $1000 a quarter? $10,000 a year?

3.  Spending: I am sure you know how to do this, all too well, right? Most of us need to learn how to reign in our spending. However, don’t get it twisted, spending is important and necessary. We simply have to ensure that we spend our hard-earned dollars on the things that matter most to us. If you find that you’re not spending your money in areas that matter most to you or that don’t serve you, you must change your spending habits. Spending on things that matter most, really means, spending in ways that help you achieve your goals. If financial freedom is what you seek, then you must become very deliberate on where your money goes. Technically, no penny should go unaccounted for…you should track your spending so you’re in the know and aware of your money is spent. Spend in ways that honors your goals, moves the needle and respects your money values, beliefs and goals. Your freedom depends on it.

4.  Investing: Investing is so very necessary in order to reach financial freedom. The beauty about investing is that there are several ways to invest and several different types of investments to consider. You can invest in stocks, bonds, mutual funds, ETFs, real estate, commodities, options, REITS, and so much more. However, the fear with investing is losing your investment. We must face any and all fears of investing because our freedom depends on it. Investing is necessary because it’s really the only way that our money can work on our behalf. Once we earn our money, if we don’t invest it, we have to keep working to earn more. However, the minute we invest some of the money we earn, our money begins to work on our behalf and eventually, we get to work less.

5.  Giving: Giving is a crucial part of experiencing financial freedom. Giving is a wealth principle in and of itself. What you give out, comes back to you. If you’re not tithing, donating to a cause or charity, or setting aside monies for reasons outside of your household, you should start, today! Giving has many benefits for the giver and one is financial freedom. To whom much is given, much is expected. Philanthropy should be apart of your money management behaviors, if you want to experience financial freedom.

These must-have money behaviors will not lead you to financial freedom if done separately. They must be  done in combination. All these behaviors work together for the greater good. Remember, your financial freedom is at stake, so let’s take on these behaviors with pride; let’s welcome these behaviors into our financial lives.

Dive deeper into each of these areas, join our community of money masters and wealth builders, who, like you, want to experience financial freedom. I can’t wait to start this journey with you!

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Dr. Dominique' N. Reese
Dr. Dominique’ Reese, owner of Reese Financial Services and creator of Master My Money, is a personal finance expert, coach & strategist, speaker, educator, author, blogger, and consultant with 10+ years experience in the financial services industry.