Fix Your Finances First: The Smart Path to True Financial Freedom

I've seen it firsthand—people who earn decently and live within their means yet constantly feel like they're struggling to stay afloat in financial quicksand. Over the past decades, as a CERTIFIED FINANCIAL PLANNER and Coach at The Richness Academy, I've worked with clients who carried heavy burdens silently—some in their 40s fearing retirement, some newly married couples unsure how to even start managing their money, and many others from different walks of life all facing the same question: "Why does money always feel like a problem?”

Let me take you through the seven steps I guide them through—steps that have helped hundreds move from confusion to clarity and from stress to stability.

1. Shift Your Financial Mindset or Stay Stuck in Middle-Class Thinking

There’s a pattern I often notice. A client tells me, “We’re doing fine. We’re managing.” But when I ask them about wealth creation, passive income, or inflation-adjusted goals, the answers are vague. The comfort of a stable salary creates a false sense of security.

One client, a senior IT manager, had no backup plan if he were to lose his job tomorrow. His mindset? "We'll manage." But managing isn't growing. And it certainly isn't financial freedom.

What I tell my clients: It’s not about being greedy. It’s about being wise. Replace the “just enough” mindset with “what’s possible?”

2. Accept That Money Solves Problems (Because It Really Does)

A couple came to me with multiple issues—struggling parents, education loans, planning for a baby. Their belief? “Money is not everything.” Yet every issue on their list needed one solution: more money.

We aren't taught this in school, but let's be clear: Money is a powerful tool. It helps you take care of your parents, give your children a good future, buy peace of mind, and make meaningful donations.

I advise: Respect money. Let it serve you—not the other way around.

3. Stop Hiding from Your Financial Truth

During one of my workshops, a participant in his early 50s looked disturbed. I asked him later, and he admitted he hadn’t checked his bank statements or credit card bills in months. “It gives me anxiety,” he said.

But the anxiety multiplies the longer we avoid our numbers.

When you finally sit down, open your expense sheet, face your credit card bills, or calculate your real net worth—it may feel like a punch in the gut. But it’s also your first win. I promise you that.

My tip: Schedule a monthly “Money Truth Date” with yourself.

4. Focus on Earning More, Not Just Budgeting

A young startup founder once told me he tracks every rupee but still doesn't have enough for his EMIs. I asked, "What's your income strategy?” He had none.

Cutting coffee isn’t going to make you rich. Scaling your income will.

I guide clients in building multiple income streams, including freelancing, digital skills, passive sources, and even intra-family collaborations. Budgeting can help plug holes in the bucket, but if you're not pouring more water in, what's the point?

One mantra: Income growth is the only real shortcut to freedom.

5. Build a Circle That Speaks the Language of Growth

This is underrated but vital. You may be earning, saving, investing—but if your closest five people still complain about the cost of petrol daily, you’ll get dragged down emotionally.

A client once paused his SIPs because his cousin convinced him that “mutual funds are risky.” Months later, he regretted the loss in compounding.

You need people who nudge you toward financial literacy, share book recommendations, and celebrate financial wins.

I always say that financial energy is contagious. Choose your company with care.

6. Plan Like Your Family Depends On It—Because They Do

I’ve met women who were never informed about their family’s financials until the spouse was hospitalized. I’ve met fathers who didn’t have term insurance because “nothing will happen to me.”

But life doesn’t take appointments. The time to plan is yesterday.

I help families create a "financial emergency protocol"—identifying who to call, where to find documents, and what policies are in place. This is true love: not just living for your family but protecting them long after you're gone.

What I recommend: Create a ‘Family Finance Folder’ today.

7. Don’t Wait for “Someday”—It’s a Lie

“I’ll invest after the wedding.”

“I’ll start planning once we buy the house.”

“I’ll look into this after my promotion.”

These are just delays in disguise. One of my clients lost 8 years waiting to start. His friend, who started with just ₹2000 per month in an SIP, outgrew him massively.

Urgency isn’t about panic—it’s about understanding the cost of delay.

My closing advice: Financial planning is the only journey where early starters always win.

Summary Table: 7 Steps That Transform Your Financial Journey

Step What You Need to Do Outcome You Will See

1 Upgrade your money mindset, confidence and clarity

2 Accept the power. Purposeful goals

3 Face your finances. Reduced anxiety

4 Focus on earning Increased surplus

5 Create a powerful circle, a Growth-oriented mindset

6 Protect your family's Long-term security

7 Take immediate action, Compounding success

Conclusion

Every financial problem has a root cause, and often, it lies in avoidance, hesitation, or lack of information. As a CERTIFIED FINANCIAL PLANNER and Financial Freedom Specialist, I've walked with hundreds of people on this exact path—and seen impressive turnarounds.

Financial freedom isn’t a miracle. It’s a method. It’s not luck. It’s learning. If you take the first step today, the rest of your journey will start to unfold with more control, confidence, and clarity.

Let’s make your financial problems a thing of the past—and your Richness journey a reality.

Disclaimer & About the Author: This article is for informational purposes only. Readers should consult a qualified financial advisor before making decisions. Taresh Bhatia, CFP® and founder of The Richness Academy empowers individuals to achieve financial freedom. Send queries to taresh@tareshbhatia.com or visit his website https://tareshbhatia.com or register for his webinar: https://couplefinanceformula.in.