5 Things I Wish I Knew When I Started My Family’s “Financial Freedom” Journey
Have you ever thought to yourself — “It sure would have been a lot easier if I’d actually known what I was doing”? Same! When I started my family’s journey to financial freedom, it was a struggle. I felt alone. I had nowhere to turn for trustworthy advice, and no one to ask if I was doing it “right”.
Looking back, I’m grateful for the journey. I learned a lot along the way, and now I get to share it with you. My #1 piece of advice is simple: Financial Freedom is a team sport. No matter how hard you try, you can’t do it alone.
With that in mind, these are 5 things I wish I’d known when I started my family’s journey to Financial Freedom:
You’re In It Together
Money is a team sport. You and your spouse cannot succeed if only one of you “does the money”. Being on a team means you have a common vision of what Financial Freedom looks like for you, and you work towards that vision together. This is great news for your marriage! By playing to each other’s strengths and remembering that you are equal partners with an equal say, your relationship will grow much stronger!
Know Who To Trust
Find people you can trust to be on your team. Seek advice and guidance from people who understand money and have your best interest in mind. I’m going to take a guess that people on TikTok, your neighbor, your parents, or your friends may have personal experience with money, but it doesn’t mean that they are giving you good financial advice.
Include Your Kids
Got kids? Put them on your team! Kids are never too young to learn about money. In fact, they are learning about money from you simply by watching you. Looking back, I wish my parents had included us five kids in money conversations so I wasn’t so afraid to talk about money as an adult.
Keep it simple and positive. Invite your kids to the table for your family’s monthly money check-in. Ask them what goals they would like your family to work towards. Let them help achieve your family’s vision. Cutting back on going out to eat? Use the opportunity to explain the importance of saving by using what you already have — and then invite your kids to join in and help you make dinner!
It’s Not That Complicated
Now that you know who is on your team, learn the rules. Money is not as complicated or as scary as everyone makes it out to be. I like to Keep It Simple, Sweety! My K.I.S.S. rules are: no debt, spend less than I make, save some, and invest the rest.
You Are Not Your Parents (Or Your Friends)
This one is easier to say and harder to do. Play on your own money team. Work towards your own family’s vision, one step at a time. Trust me when I say you can’t know anyone else’s real financial status without looking at their books, so stop comparing your financial journey to someone else’s. You are not your parents, your friends, or Elon Musk.
Having a team mindset to your family’s financial freedom journey is a big game changer! I once ran a half marathon with my daughter. We chose to be a team. We trained, ate healthier, and envisioned success together. On race day, it was all of that and simply putting one foot in front of the other until we crossed the finish line.
Achieving financial freedom for your family is no different. No matter how hard you try, you can’t (and don’t have to) do it alone. So start building your team! And remember — winning happens one dollar at a time!
About the Author
Suzanne Ryan is on a mission to empower families to achieve financial freedom. She has been guiding individuals and couples to organize their money, strengthen relationships, and build wealth since she founded T&H Financial Coaching in 2015. Suzanne loves living in West Des Moines and enjoys spending time with family and friends.
