Think back to the end of 2022.
Did you achieve everything you wanted to – particularly relating to your finances? Did you hit your financial goals? Did you buy the house you’ve been hankering after? Did you become mortgage-free (or set yourself up to cut years from your term?).
If the answer’s yes! YES! Congratulations. That’s an amazing achievement worthy of celebration.
But don’t rest on your laurels – what’s the next goal you’re looking to chase?
If the answer’s no – don’t despair. Every day offers a brand-new opportunity to set yourself up for a better financial future – whatever that might look like for you.
Wait, this isn’t a yoga class! What’s with the setting of intentions?
Setting an intention isn’t just for yogis.
When you set an intention, you tend to focus on something you want to improve in your life. For those who practice yoga, this could be about being more mindful and in the moment, cultivating gratitude, or becoming better at letting go. And this will be different for every person; your intention is personal to you and reflects your values.
As they go through their yoga practice they keep this intention top of mind, and it guides how they flow through each pose.
Intentions also tend to have a more positive spin – as opposed to, say, resolutions. So, instead of resolving that you won’t stress as much, you set the intention to find peace.
When it comes to finances, your intention could be something big like becoming financially independent, or it could be a little smaller, like setting the intention to save up for the items you want to buy, rather than relying on your credit card or using buy now pay later services.
Ok, I’ve set my intention. Now what?
Once you’ve set your intention, you’ll want to think about the actions you can take each day, week, month, that aligns with this intention.
If your intention is to be financially independent – what does that look like for you? Is that owning your own home outright and living off your investments so you no longer have to work? If that’s the case, what do you need to do to get from where you are today to that moment??
If it’s to rely less on credit facilities to fund your lifestyle – what does that look like? Is it cutting your credit card and setting up an automatic payment, to build up savings to purchase the items you want? Does it mean being more mindful about what you’re buying so that instead of succumbing to an impulse purchase you think about it for a day or two to decide whether you really want or need it?
If you think you might have trouble remembering your intention, write it down and pop it somewhere you’ll see it every day – whether it’s your bathroom mirror so you see it first thing in the morning, or a little card in your wallet, so you’re reminded every time you go to the store.
Find your guru
(Yep, we’re sticking with the Yoga metaphor.)
You may also find it useful to find someone to help you out – like a Guru. Your guru will be the person who’s going to hold you accountable and guide you along your journey. This could be a friend or partner, but you might find it more valuable to have a professional financial adviser or ‘coach’ to guide you and keep you on track.
After all, doing yoga with your friends can be fun, but if you want to improve your practice and master some of the more complicated yoga poses you’d be looking for an experienced instructor to teach you. The same applies to your finances.
A financial adviser will not only keep you accountable to your intentions, but help you define the actions you need to take, and how you can keep your mind focused on what you’re hoping to achieve.
Inhale the future, exhale the past
Now that you have an idea of what an intention is, and why it’s good to set one, take some time today to set your own intentions for financial success for the year ahead.
And, if you need help at any step of the way, don’t hesitate to book in some time with an enable.me coach. (A fee applies)
Disclaimer: This blog post is for informational purposes only and does not constitute individual financial advice. If you’re interested in receiving personalised financial advice, you can book in a consultation with an enable.me coach. Costs apply.