How to Create A Life of Financial Freedom with Julie Murphy (2024)

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Let me ask you: what are you choosing to focus on?


What are you choosing to energize?


So often I work with clients plus observe that many of us (yes, including me - we’re all human here!) choose to focus on the energy of what we
don’t want. We stay in a victim mentality and subscribe to the story that the economy, the government, our boss, co-workers, and everyone outside of us are stopping us from creating the life we want to live.


It’s All About Awareness


This is about heightening your awareness. Pay attention to those stories, to those limited beliefs that keep you in your suffering patterns.


Shine a light on those patterns and stories.


Trust me, it’s eye-opening!


Remember, we as human beings either act things out or work them out, either through our money, our relationships, or our health.


When it comes to finances, I’d like you to think about this as
becoming financially naked! Peeling back those layers and your intentions for your financial life this year.

Getting Financially Naked!


Regardless of where you are on your financial journey, the crucial thing here is your approach to creating a life of freedom and Real Wealth. You might not be aware but wherever you are, you have 6 financial buckets and today, I’d like to go through what these buckets are and how you can start to build upon each one.


Let’s first look at your money from three arenas:


- Your Financial Past

- Your Finances in the Present Moment

- Your Finances in the Future

Your financial past is your debts. It’s the choices you made in the past, that you need to pay for today. This usually comes in the form of dipping into resources from your current cash inflows to pay off those debts.


I’d like you to think about this energetically. Money is energy. So, your money energy today needs to pay for yesterday, giving you less flexibility in the present moment.


The only thing it offers you is a lack of freedom to live today, the way you may be guided to do so.


Do you want that for yourself? Yes, you might have reasons for your debts, but let’s now shift that energy to stepping into self-empowerment. Instead, choose the
freedom to live the way you want - the way your soul is guiding you to live!


Which do you desire more: feeling short-term gratification with your spending OR do you prefer to have more flexibility and freedom as your life evolves?

This is what I mean by having a heightened level of awareness.


Money in the Present Moment


The second bucket is your money in the present moment. This is how your cash flows and what comes in and goes out every month. Now, many financial planners would use the word ‘budget’ here, but I choose to take a different,
more empowering approach.


Having a budget for most people feels limited, so this is about you choosing to decide how you want your energy and money to flow.


To do this, you need to have an easy way for yourself to map out your weekly or monthly expenses. No daunting, fancy excel sheets are needed! Putting pen to paper works just as well here.


The key is to create awareness of how your money is flowing and then choose how you want to tweak and change it to flow in the way you desire.


Your Financial Future


Your financial flow and living in the present moment, are planting the seeds for your third bucket your future. Your intentions for that life of choice, possibility, and abundance cannot grow if you don’t plant and nurture the seeds for
what you want to create.


Breaking it Down Further


Financially speaking, it’s also important to break this down into three additional timelines and buckets:


- Your Short-Term Goals

- Your Mid-Term Goals

- Your Long-Term Goals

Your short-term goals are for those seeds you want to plant for money that you will want or need within a year or two.


Your mid-term goals are 1–10-year goals.


And long-term, are those 10 years plus goals.


I’d encourage you to spend some time thinking about your financial goals from these timeline perspectives. Then you can consider if you are funding the correct number of seeds to hit those goals.


Often when we are first rearranging our money in this way, we may not have enough cash flow to fully fund them all. But remember, money is energy and even if it’s $1 (or whatever currency you are working with), that’s still planting the seed! That’s still hitting your goal of energizing what you want to create.


My intention with this blog post today is to enable you to see your money not from a place of scarcity, but from a fresh and empowering perspective. To view it through a different, more colorful, and yes - an exciting lens! For you to see the possibilities you have and choose to make different decisions based on the options you’d like to explore.


To see this shift in your financial thinking and planning as an
adventure.


By operating this way with your money, it keeps your nervous system neutral. It prevents it from getting hijacked so that you can focus your energy on being in the driving seat all the way. To know that you and only you have control here - not the banks, not your job or boss, and not the economy and what’s happening within it.


YOU are the creator of your life so keep that awareness high and your energy aligned and just watch those quantum leaps occur!


If you enjoyed this post and found it useful, I’d love for you to share it on social media, and please don’t forget to
join my community where I share free weekly resources, videos, and tips on creating your life of Real Wealth!

How to Create A Life of Financial Freedom with Julie Murphy (2024)

FAQs

How do I set myself up for financial freedom? ›

If you're looking to pursue financial freedom, here are 9 places to start:
  1. Clearly define your financial goals. ...
  2. Make a budget. ...
  3. Keep working on your financial literacy. ...
  4. Track and analyze your spending. ...
  5. Automate your money. ...
  6. Pay down your debts. ...
  7. See whether investing makes sense. ...
  8. Keep an eye on your credit scores.

What are 10 steps to financial freedom? ›

Instead you will be papered for unexpected events and expenses by actively saving.
  • Understand Where You Are At. You can't gain financial freedom if you do not have a starting point. ...
  • View Money Positively. ...
  • Write Down Your Goals. ...
  • Track Your Spending. ...
  • Pay Yourself First. ...
  • Spend Less. ...
  • Buy Experiences Not Things. ...
  • Pay Off Debt.

What is the 50 20 30 budget rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

What is the average age to get financial freedom? ›

In 2021, adults who were 21 were less likely to have a full-time job; be financially independent, living on their own or married; or have children than their predecessors from 1980. Today's young adults are closer to full-time employment and financial independence by age 25, the analysis of Census Bureau data shows.

What is the 4 rule for financial freedom? ›

The 4% rule says people should withdraw 4% of their retirement funds in the first year after retiring and take that dollar amount, adjusted for inflation, every year after. The rule seeks to establish a steady and safe income stream that will meet a retiree's current and future financial needs.

What is the secret sauce of building wealth? ›

Dexter B. Jenkins details why faith, boldness and diligence are the Secret Sauce to Wealth Building. Listeners will begin to understand why wealth comes to those who understand and implement these 3 intangible forces in their money and business lives.

How can I live a financially free life? ›

  1. Set Life Goals.
  2. Make a Monthly Budget.
  3. Pay off Credit Cards in Full.
  4. Create Automatic Savings.
  5. Start Investing Now.
  6. Watch Your Credit Score.
  7. Negotiate for Goods and Services.
  8. Get Educated on Financial Issues.

How to live off of savings? ›

There are a few different ways to invest your money to earn interest and live off of that income. The most popular investments are bonds, certificates of deposit (CDs) and annuities. The interest that you'll earn will depend on the amount of money you have in your account when you go to live off of that interest.

What are the 3 building blocks of financial freedom? ›

The main aspects in achieving financial security is budgeting, reducing expenses, eliminating debt, and increasing savings. These four aspects are the building blocks to financial freedom and will help you kick-start your financial success.

How do you afford the life you want? ›

Here are a few ways to improve your financial situation so that you can afford the lifestyle you want.
  1. Set Your Goals.
  2. Understand Your Finances.
  3. Create a Budget.
  4. Pay Off Your Credit Card Each Month.
  5. Pay Off Other Debt.
  6. From Budget to Bucket List.

How do I create passive income? ›

11 Passive income ideas
  1. Make financial investments. ...
  2. Own a rental property. ...
  3. Start a print-on-demand shop. ...
  4. Self-publish. ...
  5. Sell worksheets. ...
  6. Sell templates. ...
  7. Create content. ...
  8. Create an online course.
Mar 18, 2024

How to become wealthy? ›

How To Get Rich
  1. Start saving early.
  2. Avoid unnecessary spending and debt.
  3. Save 15% or more of every paycheck.
  4. Increase the money that you earn.
  5. Resist the desire to spend more as you make more money.
  6. Work with a financial professional with the expertise and experience to keep you on track.

What are the Dave Ramsey 7 steps? ›

You can too!
  • Save $1,000 for Your Starter Emergency Fund.
  • Pay Off All Debt (Except the House) Using the Debt Snowball.
  • Save 3–6 Months of Expenses in a Fully Funded Emergency Fund.
  • Invest 15% of Your Household Income in Retirement.
  • Save for Your Children's College Fund.
  • Pay Off Your Home Early.
  • Build Wealth and Give.

What are the 8 levels of financial freedom? ›

This journey can be traced to eight stages: Dependency, solvency, stability, accumulation, security, independence, freedom, and abundance.

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