Does Your Dream Need Some Risk Management?

By Tico+Tina

Last updated July 23, 2014

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Starting out on your own, sailing into the uncharted water of self-employment can be sorta a wee bit a lot scary – there are just so many unknowns.

Source: via Doug on Pinterest

One thing that helps tremendously is to minimize your risk.

There are many ways to do this, but one of the most important is the financial aspect.

You can pick yourself back up from disappointment if something doesn’t go the way you had hoped. You can rearrange and reorganize how you’re doing things if need be; even go in a different direction altogether!

But something that is harder and takes more time to recover from is getting yourself in over your head with financial woes. A little risk management can go a long way.

Source: Uploaded by user via Debbie on Pinterest

Realistically speaking, if you didn’t have to worry too much about the money, how much freer would you feel to pursue some of those things that you hope to do “someday”?

The dreams we eventually pursued were birthed about a year after we got married. We only had a small picture, but we knew that building towards how we envisioned our future would be a long process.

Thankfully, we were able to go through Dave Ramsey’s Financial Peace University program only four months into our marriage, and it gave us the financial foundation that would enable us to build the location independent self-employment lifestyle we are currently blessed to live.

I’m not gonna lie. It was a very long, rough, 7 years in many ways, but I very much believe that those years of preparation were a necessary, formative part of our journey, and I really can’t say I would change them.

Obviously everyone’s journey will look different, and I think there is a good chance yours could be much shorter! 🙂 We all have different long term goals.

But one goal I believe we should all have is financial freedom.

Financial freedom does not mean unlimited wealth. It means not being a slave to where your money comes from or where it must go.

The truth is, you’re going to make mistakes. And that’s ok. Actually, it’s great, because it means you are trying, and most likely learning!

But when you have debt hanging over your head, and/or no emergency fund to help with those God-only-knows moments, those mistakes will take a much bigger toll on your business and your stress levels; they can even be crippling.

There is a good chance you’ve heard of Dave Ramsey by now. The principles he teaches are actually “common sense for your dollars and cents” as he likes to say. “Telling your money where to go instead of wondering where it went!”

Source: via Vintage on Pinterest

If you want to be serious about pursuing your dreams you’re going to have to take the financial aspect into account, and the sooner the better! The good news is that it might actually turn out to be a lot easier than you anticipate.

Dave Ramsey breaks things down into fun and understandable steps that anyone can follow (I promise, it’s not stuffy and boring 🙂 ), and he is all about working towards doing what you love. I highly recommend checking out his classes for yourself, and his radio show is also very encouraging and motivational. Hearing stories about so many others who have stuck with it and overcome adversity is truly inspiring. You can check out some of his tools here or buy one of his books.

[amazon-carrousel align=”center” height=”200″ width=”600″]1436b223-f912-49b1-82dc-8d57a094a988[/amazon-carrousel]Getting finances in order and making a plan is one step everyone can take toward their dreams. Do you already feel good about where you’re at with this? If not, what are you waiting for!

I promise that you won’t regret it.

We're well-acquainted with being stuck in soul-sucking survival mode, and the intense internal friction of not living in alignment with your potential. We're all about discovering, creating, and sharing adulting cheat codes™ so you can level up faster! -David (Tico) & Chris(tina)

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