There are so many important factors in working with your finances, whether they are yours alone to manage, or you are working with a partner. Whatever the situation, it is not easy to manage finances when a lot of life, if not all of life, rides on how they are managed. Financial Peace is IMPORTANT!
Lets walk through a few question to get us started:
How do you feel about finances?
What are your financial wants in life?
Do you know how you want to manage your finances?
How is that management going to help you reach your financial goals?
A Beginning to Finances
Finances can be handled many different ways and can depend on many different factors. Your personal upbringing, what you learned through life and education, and what has impacted you in connection to finances. These things can create the ways that you interact and manage your money and finances.
However you choose to manage your finances, it’s important to be proactive! Being proactive in working through your finances will open many opportunities for the future. Choosing to strive to manage finances with wisdom and patience, will set you up for great success throughout life. The best part is that if you are committed, there are many reasonable paths to choose from to make your dreams and goals a reality!
What is Financial Peace?
Financial peace is something that is created from healthy finances. Dave Ramsey coined the term, but it has been around much longer in reality!
Dave Ramsey says that:
Financial peace brings a sense of hope and freedom.
Not only are you not worrying about bills, but you have a plan for the future. You’re giving every dollar a name on paper, on purpose, before the month begins. This brings about a sense of confidence, hope for the future, and freedom!
Financial peace gives confidence, freedom, hope through having a budget that fits your life and what you want for the future as well as living within your means. This is one way that you can build wealth because you start with less, earn a certain amount and are left over with more than you started with, after fulfilling your four walls – food, shelter, basic clothing, and basic transportation.
This will allow you to plan for your future, and make sure that you have the life you want! When you give each dollar a name and a purpose, you have the control to make it and your life what you want. You may not end up wealthy on a large scale, but does being wealthy do for your life?
Having money definitely is nice, but in my life, it doesn’t make me rich; the relationships, the journey and other things of importance are what I consider to create the life that I want. Without those things, what is life? You can have all the money and in the end and still not be rich, that is for sure!
What does being rich in life mean to you? Share with me below in the comment section!
Why Have Financial Peace?
Having financial peace in my own life is so important, and that means having less debt and bills than income. Living well within my means allows for security in savings, budgeting for the unexpected and not living paycheck to paycheck. They are all important to me!
Living within my means isn’t just something that makes me feel good, or helps me to budget well. It can be a great tool for building wealth too! Comfortably living, within your means, coupled with wise management and/or budgeting allows you to really control your money and where you are putting your money. The name you give your money when you are fully budgeting out your finances and giving each dollar a purpose can really show you what you value.
Does financial peace mean you have wealth?
Having financial peace does not necessarily mean that you are wealthy.
You may very well be wealthy, but it’s not a given, and you definitely don’t have to be wealthy to experience financial peace. This is a really big point that you should take to heart. You do not need the highest paying job, and you do not have to reach your career aspirations before you are able to experience financial peace!
I find it incredibly valuable to be able to experience financial peace when you aren’t meeting your goals and aspirations. You can have financial peace when your income is smaller or your paycheck barely makes ends meet. Learning how to manage your finances when they are small will help you to manage your finances when you have more.
Think about it: If you can’t manage money well when you have a smaller amount to actually manage, how are you going to manage double that amount?
On my own journey through managing finances, first on my own and now with my husband, there are some key positive aspects that have made a huge difference in our life.
3 Positive Aspects of Financial Peace
There are 3 positives that I have experienced through my financial journey to peace that I find encouragement in and the realization that these things are necessary for my success.
The positives that you discover through your own journey may look different because each of our journey’s are unique!
What do yours look like or what do you think they would look like? Comment below and share with me!
You have full confidence in your financial decisions and abilities
For a while, I second guessed almost every financial decision that I made. It actually even became a huge negative in my life, because since I wasn’t confident in my finances, I somehow decided that I just shouldn’t ever spend money.
This habit of mine was negative and very hurtful, because I was ending up beating myself up about financial decisions that I had made in good conscience, with good reason, even if it was something necessary.
Building myself up through education, practice, as well as mentors and advisors. I slowly reversed that habit, although at times I still stumble through those feelings.
Having full confidence in my financial decisions as well as my financial abilities through budgeting and proper financial management, is such a blessing.
I love designating my money for specific things and planning for the wants throughout my life. This also creates a peace of mind so that I don’t have to be stressed out with the ramifications of the purchase that I have decided to make. Having this confidence in the management of your finances can be invaluable, that is for sure!
You are able to plan well for the future that you want.
Being able to create the future that you want is essential, and if you aren’t able to create the future that you want. Planning for and creating the space to be able to designate some funds to support that future is a good step in the right direction!
This could look like many different scenarios for different people this could be an array of different opportunities. Planning well for the future, whether that future holds children, caring for family members as they age, or simply your own retirement. It’s all important.
The hope and freedom of managing finances eliminates worry and stress surrounding money.
Eliminating stress and worry surrounding my finances is huge and even ties into my quality of life. Knowing that my needs are met and I am able to save for our future is huge. Giving our finances a space and plan with goals to meet lifts the stress I feel from my life and I couldn’t be more thankful to be on this journey!
Having financial peace is crucial. Learning to manage your finances in such a way that gives you peace is valuable, too! There are many resources that you can utilize to help you on your journey.
Resources to Help You on Your Financial Journey
I used – and still use – my local public library endlessly to learn about more options for managing finances. Youtube is also a great resource for listening to audiobooks that I wanted faster than the library could supply. Talking with friends and mentors is also a great opportunity for learning more when conversations of finance come up. Sharing their how and why in managing finances gave me inspiration and support in our journey.
It was all useful and it helped me to gain perspective and to know what I wanted from my finances! It allowed me to see the good and the bad as it related to my life. A good choice for me could always be a bad one for you because our journeys are different and it’s important to remember that.
Managing finances will be different in everyone’s life. We will have different goals, different wants, different needs, and different aspirations. In my book though, one thing that should resonate with everyone is the need for financial peace.