Financial tranquility is the core of financial freedom. Due to the complexity of defining financial tranquility, I will be branching this topic into three sections. Afterall, who does not love a good trilogy? This introductory post will focus on the similarities between the pursuit of financial tranquility and the pursuit of happiness. The next section will focus on the most problematic issues in America, debt and overconsumption. The last section will provide tools on how to maintain financial tranquility during the most tumultuous times in life.

To start living in financial tranquility today, these are the main strategies: learning from past mistakes, budgeting, and staying out of debt. Past mistakes include making a major purchase without planning, such as a car or a degree. It is better to save and cash flow major purchases than to commit to a finance plan. Such a plan will add interest charges and tie you to the lender. When you pay cash for a major purchase, you are immediately free from debt. This is why it is important to budget. I have and will continue to point out the importance of budgeting. A budget helps you coordinate where your incoming money will go. Just like flossing, a budget can be painful at first, but it is essential. Without a budget you will feel lost and worried when funds are low, and this will disrupt your peace. Last, please, I beg you, once you are out of debt – stay out of debt. There is nothing like debt to keep you up at night or take away your joy. Live within your means and like the famous Dave Ramsey says “Act your wage!”.

The pursuit of happiness will bring you discontent if the end goal is to achieve a pure state of nirvana. The secret that older wiser people forget to tell you is that the pursuit itself is happiness. This means that happiness is not something we need to strive for because it is already here. Happiness is a chuckle after a funny sneeze or the breeze we feel when we leave the office. Financial tranquility works the same way. There will always be ups and downs in our life, but as long as we are doing our best and working on better habits, we will experience financial tranquility.

Editor: Melinda Kovacs