The vision comes first

Then everything else to make it real

Welcome to Frances Cook's Money Memo, where you stay up to date with the latest tips to keep your cash under control.

Hey team,

I’ve been lucky enough to talk to people who do incredible things, on a weekly basis.

Start over entirely at 30.

Retire so early, they start a family and raise kids after retirement.

Start a business, nobody backing them, and use it to create financial independence.

Ok, these are big examples, because I brought them on the Making Cents podcast to talk about it, and it has to be a good story.

But while I was having the latest conversation with someone, about how they’d used money to change their life, I couldn’t stop thinking about the common thread that connected all of these stories:

They started with the vision first.

(Don’t have time to read this right now? Subscribe to the podcast on Apple Podcasts, Spotify, or YouTube, to listen in your own time.)

It’s not magical thinking, it’s creating a path

Charmaine managed to retire in her 50s, alongside her husband, and they’ve hit the road in a caravan.

They’ve never earned mega-bucks. They had a glazing and locksmithing business, worked hard on it throughout their kids’ childhoods, and recently sold it.

They also lived pretty frugally that whole time, and put their savings into their own home (now rented) and buying the commercial building their business was in (also now earning rent for them).

So, if you want the tactic that worked to create financial independence and early retirement for them, then sure, it’s a combination of cheaper living and investing into their business, and property.

But that’s not what actually got them there.

It’s the vision, that Charmaine had the whole time.

You can’t get somewhere without a map

Charmaine and her husband Dallas both knew they wanted to live life to the fullest, and not spend it all working.

So what did that look like?

Well, when the kids were younger, she wanted to spend quality time with them.

So she pinned a picture up of what she wanted their backyard to look like, and then spent several years hunting down secondhand finds, making it a reality for a fraction of the price.

Including a cracked pool that she found secondhand, bought for a song, and then repaired to be a perfect childhood play spot.

Now that the kids are older, she wants a mix of spending time with her adult kids, and going on adventures with her husband.

When she really envisioned what that looked like, it was a caravan, to let them bounce all over New Zealand.

But also, with enough cash in the bank, so that they never feel insecure.

So it was time to rent out the family home, sell the business, and get that caravan (for a good price, of course…)

If you don’t know why you’re doing it, you’ll never stick with it

“Nothing worth having comes easy.”

I remind myself of this all the time.

I have big goals for my life. I remind myself all the time that life is horribly short, feels shorter every day, and there’s still so much I want to do.

Sometimes, getting these things feels hard.

Sometimes, I just don’t have the motivation.

So if I’m not sure if I actually want it? Eventually I’m going to give up, and one of the other pressing issues of the day will take over.

What keeps me on track for the things I actually do want?

Remembering that I want it. What that looks like. What that feels like. Why I want it.

Make the vision real

So I don’t care how you do it, but if there’s a goal that you want, whether it’s with money, or something else, I want you to think right now about what it would look like to get there.

Find pictures you can put on your fridge, or phone screen.

Talk to friends about what life would be like once you achieve it.

Make it real, until you can see it, taste it, know exactly what you’re aiming for.

Then work backwards from there, to work out what you’ll need to do to make it happen. And start doing it.

Most especially, listen to this episode of the Making Cents podcast.

Because Charmaine certainly inspired me to think about what I want out of life, and then make sure it happens.

Get paid what you’re worth… ok but HOW

And if you read all that and thought hmm, maybe a business of my own would help me create that financial freedom, I have the perfect follow-up episode for you.

Because here’s the problem when you’re self-employed and all anyone will tell you is “make sure you charge what you’re worth!”

That we all, actually, know that. We just find it really hard to do, when it comes down to it.

So I’ve got you prepped, with a guide for the side hustlers and small business owners, to help you get the money side working a bit better.

From figuring out your pricing, to tax traps, and even your KiwiSaver, I’m talking about all of it with Justin Gauci from EnableMe.

It’s all on Making Cents, and it drops on Thursday, so make sure you’re subscribed on Apple Podcasts, Spotify, or YouTube, to get it in your ears first thing.

Until next time.

- Frances

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