As we begin a new year many people set goals of unlocking their financial freedom as they strive to live a purposeful life. Sarah Fernandez, personal financial expert, claims, “The journey to financial freedom begins with acknowledging the importance of having a financial plan.” She emphasizes that a well-structured financial plan not only clarifies your current economic status, but also empowers you to make informed decisions. “Financial success is not just about numbers,” Fernandez said, “it's about mindset and discipline.” She highlights the importance of living within your means while still enjoying life's pleasures and encourages you to take control of your financial future in the new year through the following four ways.

1. A key indicator that money might be dictating your life is often referred to as “the vanishing paycheck phenomenon.” This is where you live paycheck to paycheck which can often produce a feeling of being overwhelmed by expenses. Fernandez suggests in situations such as this to focus on the concept of “having versus experiencing” and how it affects spending habits.

2. Cultivating a mindset for financial success. Fernandez encourages people to adopt an abundant mindset and likens this to a growth mindset, where the belief that improvement is always possible fuels your financial journey. This mindset shift not only focuses on progress and improvement, but is essential for overcoming financial stress and achieving long-term goals. Fernandez reiterates that this perspective shift allows individuals to live their best life at the moment while working toward a brighter financial future.

3. Understanding how family upbringing can shape financial habits is vital, especially in relationships where partners may have different spending and saving tendencies. By recognizing these differences, couples can work together to align their financial goals, foster a sense of unity and understanding while building a prosperous future. “By having open and honest conversations about spending habits and priorities, couples can create a financial plan that supports their shared dreams and aspirations,” Fernandez said.

4. Credit card usage is a double-edged sword that requires careful management. While the perks of earning miles or cash back are enticing, it's important to use credit responsibly to avoid potential pitfalls. From personal experience Fernandez stresses the necessity of self-awareness in financial decisions. “Setting boundaries and knowing when to steer clear of credit misuse are crucial steps in maintaining financial discipline” Fernandez said. Fernandez dives deeper into practical advice on how to navigate these challenges effectively in her interview on Holly’s Highlights podcast (season 3 episode 13).

“Financial freedom is attainable for anyone willing to put in the effort and make informed decisions” Fernandez said. “By cultivating a mindset of abundance, setting clear goals, and managing finances responsibly, individuals can transform their financial habits and pave the way for a successful future.”

Tune in to the complete interview with Fernandez on Holly’s Highlights podcast Season 3 Episode 13 for expert tips, personal anecdotes, and actionable strategies that will equip you with the tools needed to master your financial journey. Whether you're single or in a relationship, young or old, Fernandez's insights will inspire you to take charge of your financial destiny and live a life full of purpose. Holly’s Highlights podcast is available wherever you listen to podcasts including Apple podcasts, Pandora, Spotify, Tune-in and on www.HollyCurby.com.

Full interview with Sarah Fernandez available on Holly’s Highlights podcast. (Photo courtesy of Sarah Fernandez)