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👁 INTENTION

Today, let's tend to our money garden by cultivating the seeds of financial literacy so that we better understand the simple practices that create wealth and abundance.

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✨ INSPIRATION

“Debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice.“—chimes the introduction of Dave Ramsey's popular daily radio show which focuses on money management. And while Dave Ramsey reminds us that “money is good for fun, investing, and giving.”, he also offers the liberating reminders that money is not the root of all evil or the path to happiness. It's simply a tool.

Money is a tool that allows us to live life on our terms, yet many of us don't have a deep understanding of this crucial aspect. This lack of financial literacy often leads to stress, uncertainty, and missed opportunities. As Dave Ramsey beautifully articulates, “Personal finance is 80% behavior and only 20% head knowledge.”

Financial literacy is the ability to understand and apply various financial skills, including personal financial management, budgeting, and investing. It's about making educated decisions with all of the financial resources, from daily budgeting to long-term retirement planning.

Practicing financial literacy is akin to cultivating a garden. It starts with understanding your current financial landscape, planting seeds of knowledge, and then consistently nurturing them until you've grown your garden of financial freedom.

In this spirit, let's embrace these core principles that Dave and other financial gurus echo over and over:

1. 📚 Commit to learning financial concepts
2. 🔄 Track your money and embrace budgeting
3. 💰 Save for emergencies and invest for the future

Remember, financial literacy isn't a destination; it's a journey. It's about continual growth, learning, and adaptation. By embracing financial literacy, you are taking an essential step towards a secure and abundant future.

💬 QUOTE

We buy things we don't need with money we don't have to impress people we don't like.

Act your wage.

If you will live like no one else, later you can live like no one else.

You must gain control over your money or the lack of it will forever control you.

Dave Ramsey

🧬 SCIENCE

In a landmark study from the National Bureau of Economic Research titled “Financial Literacy, Financial Education, and Downstream Financial Behaviors”, financial literacy emerges as a key predictor of smart financial decision-making. This study shows that a sound understanding of financial concepts can lead to healthier financial habits such as saving, investing, and budgeting.

The researchers found that individuals with a higher degree of financial literacy are more likely to participate in the stock market, have better credit, and are more inclined to save for retirement. This goes to show that financial literacy does not only affect our pocket but impacts our overall well-being and future security.

So what does this mean for us? The knowledge we gain about financial management can have a real, tangible effect on our financial health and well-being. Here are a few actionable takeaways:

1. Embrace Continuous Learning 🤓 The field of finance is ever-evolving. Knowledge is power, and in this case, financial power.
2. Start Budgeting 🧮 Understanding where your money goes is the first step to financial control. Make a habit of tracking your income and expenses to manage your finances effectively.
3. Manage Debts 💸 Paying off debt should be priority #1. Paid off debt Learn to manage your debts effectively. Avoid high-interest debts like credit cards and payday loans, which can trap you in a cycle of debt.
4. Plan for the Future 📈 Start saving now. The power of compounding works best when time is on your side.
5. Invest Wisely 🧐 Once you've built an emergency fund (a savings account with 1-3 months of living expenses), consider investing in diversified portfolios to grow your wealth.

By empowering ourselves with knowledge and taking actionable steps, we will reduce financial stress, make better decisions, and create more opportunities for ourselves. So, let's continue to educate ourselves, apply these lessons, and take control of our financial future!

🧘 MEDITATION

In today's 9-minute meditation, let's journey further into the abundance forest, nurture seeds of financial literacy, and cultivate a mindset of abundance and prosperity.

Listen on YouTube »

📿 MANTRA

I am the architect of my financial freedom.

🔥 RELEASING RITUAL

Let's explore and release some of our limiting language, thoughts, and beliefs around money.

1. 👋 Identify and converse with your inner ‘financial protector.'
2. 📝 Let your inner ‘financial protector' completely take over your journal in order to air out all the doubts, concerns, fears, etc. …. just let it flow!
3. 🥰 Acknowledge your ‘financial protector' and the fears it holds. Thank and reassure this part of yourself with the power of your conscious intentions.
4. 🔥 Should you desire, safely burn this paper as you repeat the mantra, “I am open to abundance.”

🍏 HEALTHY HABIT

Make a habit of routinely tracking your expenses.

Whether you review your income and spending habits once every quarter, month, week, or day, this will provide enlightening insight into understanding where your money is going and help make informed decisions.

✍🏼 JOURNAL PROMPT

What would financial freedom look like for you?

Use vivid language. Bonus bucks if you can bring these visuals to life with shapes, colors, sounds, etc.

Reflecting on how financial freedom looks for you, how would your life change if money wasn't a concern?

If you were to focus on just one thing in the realm of money today, what would be the most helpful place for you to learn, grow, and change?

📣 AFFIRMATION

I am learning the language of finance toward abundance and prosperity.

🎴 INTENTION CARD

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💞 COMMUNITY CONVERSATION

What did you discover about yourself during today's session?

Feel free to share on our community Activity Feed.