How to get ahead with your money and access real financial freedom with Bola Sol | Future Self Series Ep. 8

right let's do something practical together i want you to actually do this not just listen to it grab a pen if you can or come back to it later if you're driving or walking i'm calling this the future self-exercise money edition and there are four steps step one working out the gap picture a day in your life five or ten years from now or whatever timeline you set for yourself at the start of this series and put a rough number on it the annual income you'd need to actually live that way or have that lifestyle Most people have never once asked themselves this and the moment you do, planning for your future life gets a lot clearer.

Now something important here, freedom doesn't require endless accumulation.

So I want you to think carefully about what's genuinely enough for you.

Be clear on what makes a good life by your own definition rather than what looks impressive to other people.

Because if your desires keep expanding, no level of income will ever satisfy you.

Then write down where you actually are right now.

What you earn, what you've saved, what you've invested, if anything, what you owe.

No judgment in this part, just facts because you cannot navigate from a position you refuse to look at.

And then look at the distance between those two things.

That gap is what you're working to close.

And when you've got that gap, that brings me on to step two, creating a buffer.

What's one single thing you could do this week that moves you towards closing that gap? You might start by setting up a small automatic transfer on payday.

For some of you, it's finally checking what your workplace pension is invested in and whether you're contributing enough to get the full employer match, which is genuinely free money that people leave on the table constantly.

For others, it's opening a stocks and shares ISAR and putting in a small amount.

Even a modest contribution monthly is enough to break the seal.

Write down what it is for you and then most importantly, take action.

And once you've done those, it's time to take an honest look at your salary.

You need to think about the life that you want in a few years and if your salary is gonna be able to take you there.

So let's say for example, you say, look, I want a five bedroom house, two bathrooms with a drive and a garden.

That house may cost a particular number.

And if you look at your finances and you look at your salary, what you can start doing is looking at the number you need to get there.

You look at the salary you're on, the multiplier, which is usually 4.5 of your salary and see, will you be able to get that desired dream? Now, your dream may not be a house.

It could be something else.

But the point is, make sure you start looking now because it may take a few years for you to get where you want.

But trust me, the process is always worth it.