The 9 Steps to Financial Freedom
The 9 Steps to Financial Freedom
Suze Orman, author of The 9 Steps to Financial Freedom, published her book in 1997. Ms. Orman wrote her book after working for years as a Certified Financial Planner. Ms. Orman realized while working with her clients and their financial fears, that she also had many money fears to overcome herself. Her personal journey and this book became the vehicle that convinced her to give up her practice and begin the training process of turning people towards their money.
The author believes that financial freedom is within the reach of all of us. The course to financial freedom or the path to true wealth is within your grasp by following the nine steps outlined in her book. The first few steps help you identify why you do and do not do the things you know you should to be financially responsible. The next steps identify the laws of managing money and the last several steps take you beyond your finances.
Ms. Orman’s theory is that all of your financial decisions are linked to a childhood memory regarding money so the first step to financial freedom is identify your first monetary memory. Determine how money makes you feel and think. This memory strongly rules your financial life today. Facing the fears you identified in Step One will help you to establish new financial truths for yourself. Step Two guides you through the fears towards Step Three. Being honest with yourself is the key to Step Three. Get in touch with your money and determine not only how you use it but how you would like to be using it. You are now starting to take control of your financial life. What about those that you are responsible for? Step Four teaches you to provide for those you love. Determine the financial structure necessary for you and your family. Some things to consider: Wills or Trusts? Durable Power of Attorney for Health Care? Life Insurance – how much or how little? Long Term Care Insurance – is it necessary? Consider
Suze Orman, author of The 9 Steps to Financial Freedom, published her book in 1997. Ms. Orman wrote her book after working for years as a Certified Financial Planner. Ms. Orman realized while working with her clients and their financial fears, that she also had many money fears to overcome herself. Her personal journey and this book became the vehicle that convinced her to give up her practice and begin the training process of turning people towards their money.
The author believes that financial freedom is within the reach of all of us. The course to financial freedom or the path to true wealth is within your grasp by following the nine steps outlined in her book. The first few steps help you identify why you do and do not do the things you know you should to be financially responsible. The next steps identify the laws of managing money and the last several steps take you beyond your finances.
Ms. Orman’s theory is that all of your financial decisions are linked to a childhood memory regarding money so the first step to financial freedom is identify your first monetary memory. Determine how money makes you feel and think. This memory strongly rules your financial life today. Facing the fears you identified in Step One will help you to establish new financial truths for yourself. Step Two guides you through the fears towards Step Three. Being honest with yourself is the key to Step Three. Get in touch with your money and determine not only how you use it but how you would like to be using it. You are now starting to take control of your financial life. What about those that you are responsible for? Step Four teaches you to provide for those you love. Determine the financial structure necessary for you and your family. Some things to consider: Wills or Trusts? Durable Power of Attorney for Health Care? Life Insurance – how much or how little? Long Term Care Insurance – is it necessary? Consider
Cited: Orman, Suze. The 9 Steps to Financial Freedom, Second Edition. New York: Three Rivers Press, 2000.