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4 Common Mistakes People Make When Managing Financial Priorities and How to Avoid Them

Written By Millen Livis

Do you want to be Financially Independent? Do you want to have more Freedom? More Choices? More Money?

OK, these are rhetorical questions…. Of course you do!

And what I’ve noticed is that there are two immediate mental reactions that most people have when they are asked these questions.

Some say: “It will not happen to me because __________ (e.g. “I’m broke”, “I’m not good with money”, “I don’t have a right profession / business”, “I’m single”, “Wealth makes people greedy”, “I don’t know how”.)

Others say: “What needs to happen so I have more Freedom, more Choices and more Money?” “What do I need to change? Learn? Do? How to Be?”

While having a nice income, or a rental property, or a portfolio of stocks is great, creating financial independence is waaaaay bigger than choosing the right stocks, buying properties, or making money at your job or in your business!

Financial Independence is about your way of being – taking choices that are congruent with your values and goals (financial and personal), having confidence and competence to manage your financial priorities so that the decisions you make get you closer and closer to your highest vision for life and work!

And it’s also about creating multiple streams of income by using your skills and passions (business), your money and knowledge (investing), other people’s money and resources (leverage) or all of the above in order to have the lifestyle you dream about.

There are many factors that play a role in how quickly you can become financially independent. And one of the most important factors is becoming really good at managing your financial priorities.

This one factor allows some people to live free of financial worries and anxiety while others to feel like they have to slave for money…for the rest of their life.

And this is true across different sociological and income groups!

So, what common mistakes people make when it comes to managing financial priorities? And how you can avoid these mistakes and get well on your way to financial independence?

Here’re some common mistakes that I’ve observed:

  1. Lack of Awareness about Core Values.

When you’re not aware of what is REALLY important in your life, you act sporadically. You make yearly resolutions not to spend more money than you make, not to have more debt, not to buy more “stuff”….

BUT then you get off track when you see a new shiny object like a designer dress or an exotic vacation offer, or _______ and you get your credit card out of your wallet and… get into debt again!

Be clear about your Core Values.

For example, if one of your core values is to have more freedom, more choices, more peace of mind – this awareness will help you avoid the financial temptations and make decisions that are congruent with your Core Values.

  1. Not Setting Intentions.

When you don’t set your financial intentions, you create randomly, often from a place of fear, doubt, and powerlessness. Since you’re creating all the time, why not to be intentional about your creations?

You want to have an emergency fund by a certain date? Set the intention!

You want to grow your wealth by making strategic investments? Set the intention!

You want to receive income from passive investments to support your desired lifestyle? Buy a new car? A house? Set an intention!

Intentions direct energy. Intentions set in motion possibilities.

Intentions direct experiences that you need to have so that your intentions become your reality.

Setting the intentions is the way to leverage the infinite organizing power of the Universe.

  1. Focusing on Problems instead of Solutions.

What you focus on, expands. You know that, right?

So, when you focus on how you cannot afford to buy _________, or how you cannot invest in __________, or how unlucky you are because you don’t make enough money – you focus on problems instead of solutions.

Choose to Focus on what you say YES TO when you manage your financial priorities!

For example, you can ask yourself “what would need to happen so I’ll be able to _______?” “What can I do today, this week, this month to make more money? To pay off my debt AND save more? To invest and grow my wealth?”

You can brainstorm different options, write them down, choose which ones excite you the most and take the first step…and the next…and the next.

With the focus on solutions, you’ll be able to take inspired actions!

And even small actions taken towards your desired financial results  will help you make better financial decisions.

  1. Not Living in Integrity with Your Financial Goals.

You may know your core values and even set your intentions and financial goals. But if you don’t practice financial discipline, if you don’t live in a way that supports your financial goals, it’s unlikely that you become financially independent any time soon.

Because knowing what you need to do is not enough!

Implementing your knowledge, doing what needs to be done even if it’s not easy or uncomfortable – THAT shows your commitment and determination. 

THAT will lead to results! Because “devil is in execution”, agree?

And even if you made some financial mistakes in the past – it doesn’t matter! Because you are NOT your experiences!

Managing your financial priorities well is a skill that you can attain and practice!  

If you’re not where you want to be in your life, financially – it’s time to change.

Manage your financial priorities in the ways that support your financial goals and core values.

To Your Health,Wealth and Freedom!


P.S. For the next 24 hours ONLYspecial offer to celebrate Independence Day! If you haven’t benefited yet from working with me or speaking to me in person, I offer you a complimentary Make Money Work For You strategy session!! You can book it HERE

About the Author

Millen is a Wealth architect and Financial Independence Coach, entrepreneur, and a bestselling author. Being a Possibilities' Catalyst, she uses her intuition, business, and investment expertise to support entrepreneurial women (like you) who want to master their money, live their purpose achieve financial prosperity and freedom. With her physics and business education, corporate and entrepreneurial experience, money management know-how, mindfulness practices and transformational coaching skills, Millen has a unique ability to guide and support clients in achieving extraordinary success in their lives.

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