Financial Wellbeing | how I healed my relationship to money

 

Money, Credit Repair, Debt Cancellation, Credit Worthiness...

These all seemed like big words, BIG ideas, BIG goals to me...I'd look at the numbers and feel overwhelmed by the weight of my reality until I began to understand that Money like everything else in my life was a Relationship I had to build and required my full attention.
"Money = Choices, Options, Freedom. - Emmy Award Winning Actress, Viola Davis."

I started with understanding Money better...

I knew what I wanted - but didn't know how to get there. As an Artist, my short-term goals, mainly as a gig worker, were to be able to travel for auditions, afford workshops and lunch/dinner dates with friends & to see shows without hesitation. Long-term, I wanted to have an emergency fund saved up, liquidity in my assets and a higher credit score to make large investments such as a mortgage or business loan if need be.

(Photo: Jacob's Pillow - Dance Scholar Summer Intensive)

Financial Literacy and Financial Independence

Financial independence is the attainment of a level of assets and income that would allow you to live for the remainder of your life, free of financial concerns, without working or supplementing your income. Financial literacy is a set of tools and skills that will help us to achieve financial independence. 

What is Financial Literacy and Financial Independence?

Financial literacy is a combination of knowledge and skill; sometimes referred to as financial capability. Knowledge alone doesn’t make you skillful; you need to apply the knowledge in the real world to gain skill. Skill comes from applying knowledge. Financial independence can be thought of as the point where retirement is affordable and work is optional. But there are various levels within those bounds -

 including: 

• Ability to do what you want to do
• Free from concerns about important costs: medical, family, bills, fees, grocery, travel, etc.
• The ravages of inflation
• The fickleness of stock markets
• Unforeseen circumstances that may arise

My Goals for Financial Independence:

First, learn the basics, things like budgeting, the time value of money, risk versus reward, and techniques of diversification and asset management.

We start with the things that enable us to hold ground: an emergency fund, and adequate protection. Then we move forward to the more glamorous aspects of financial wellness, investing, and building wealth. But we need the foundation first, or what we build will be at risk. 

We gain skill by doing, but only by doing thoughtfully, with intent. Knowledge without action garners us no gains; action without knowledge may produce undesirable outcomes. We need knowledge to meet us where we are — sufficient for the task at hand — and prudent action, informed by the appropriate knowledge. Financially, we do need to learn to walk before we run. There’s a lot, but it need not be difficult. We learn to walk by steps. We need to focus on the next piece of knowledge we need or the next action to take.

On the other side : 

Today - although I'm not a Millionaire. I am Empowered. 

I have the information, tools and knowledge -but most importantly as stated before, I am applying it. Daily. Mastering the Arts of Restraint to Honor my Budget, Needs and exercising self-control when on a budget. My outlook towards money has changed as well. The more literate I've become, learning the terminology of finance  - the more empowered I become - the more FREE I feel. 

I am healed of the hurt of ignorance, lack of access and the trauma of Money. 
And now can soundly say - I am on the otherside:)

You can be too...