Embracing the Uncontrollable: How to Find Financial Freedom in a World of Uncertainty
Some things are out of our control no matter how much we wish it wasn’t.
We don’t know if our company will fire us at any moment. We can’t 100% time the market. Or if we or a loved one might get very sick at any moment.
Our psychology of money works very differently for each one of us. Some are more risk-takers than others, and some can’t afford to take risks but some universal truths can help each one of us make better financial decisions.
Don’t fix what is already working and don’t be so hard on yourself when things are going wack
We often enter a monotonous routine. We start taking on jobs and responsibilities that we don’t want to. We don’t know how to say no. Life suddenly starts getting overwhelming. But often life is not as good or bad as it may look. Luck plays a big role in what outcome we might get out of life and any decision we make or circumstance we might find ourselves in. Learn to make decisions by focusing on the things you can control and have faith that things will fall where they are meant to.
Save for rainy days
If you can’t make it work now, how will you make it work if you suddenly had a million dollars? Most likely you wouldn’t. Most likely we wouldn’t be here if that was the case.
According to “The CFP Board of Standards says nearly one-third of lottery winners eventually declare bankruptcy, and lottery winners are more likely to declare bankruptcy within three to five years than the average American. That’s often because winners can become reckless with their newfound wealth.”
You might hear that you shouldn’t save and instead, you should invest. Don’t let shiny object syndrome distract you from having options and the freedom to choose what to do with your money because now you will have some.
To each one of us, wealth means something different. It’s something we can’t physically see unless you explain what wealth means to you or show it if you are already wealthy. But, no matter how much money you make, you will never be free if you spend more than what you earn.
If you have the discipline to save, you will have more freedom, choices, and possibilities as long as you keep the same mentality of saving when it comes to making smart financial decisions.
If you learn to become wealthy with what you have, you will find a way to be rich with options.
