One of the main considerations in reinventing yourself is to prepare yourself financially. Take Away the Worry offers the following quiz for preparing yourself financially.
“Take this quiz to how prepared you are financially to make a change:
- Do I have cash reserves in a savings account that equals at least three month’s of my essential living expenses?
- Do I know how much my monthly essential living expenses are? Do I set aside time every day or every few days to monitor my checking accounts and pay bills?
- Do I keep my credit card balances at zero?
- Do I enjoy my money without having to go into debt to purchase things I desire?
- If I had to fly across country, could I purchase the tickets without having to charge them to my credit card?
- Could I live on 60 percent of my current include for the next couple of months?
- Do I regularly check my credit report and know my credit score?
- Do I consistently save for the future?”
“If you find yourself answering “no” to two or more of the above, you may want to look for a temporary income source as you work on reinventing yourself. It doesn’t have to be big and it doesn’t have to be steady. Save this income for retirement purposes and try to live on your earned income alone.”
I am calling this post financial freedom because I have allowed poverty thinking to dominate my life. I grew up in a household that used money as the battleground. Both parents used money for emotional needs. So I guess I chose at a young age to fear making money and being secure financially. Consequently, I have always struggled to keep myself living at a poverty level. I’ve come to believe that one of my basic concepts about myself has been that I didn’t deserve to be content and secure. I know that money alone is not the answer to anything. But constantly struggling about money is very tiring on the mind, body and soul.
Some quick links for financial help or ideas: