If your Finances were a plant would it be Growing or Withering?
Having Financial stability and growth is not something that is acquired by luck or chance. It happens as a result of intentionally investing in key habits and principles coupled with the mindset of a winner, this will attract and cultivate the results you desire.
As a plant requires specific 'nutrients' and the right environment in order to grow, similarly our Financial life requires essential nutrients in order for us to thrive and achieve our goals. In my last post we spoke about the second key nutrient which was Mindset if you missed that post you can read it by clicking the link below.
A Financial plan: having a clear and concise Financial plan is key for INTENTIONAL Financial growth and stability. A Financial plan is more than simply having goals, it provides us with clarity about where we are currently in our Finances, where we desire to be and the strategies we will implement to allow us to get there. Essentially, it is a road map to guide us to achieving our idea of Financial success.
If you do not yet have a have Financial plan written down or you have one but it isn't written in a clear and concise way, with specific details of what you want to achieve and the timescales. I'd strongly urge you to create one, before you do think about where you are currently in your Finances, what habits or decisions has led you to where you are now? What habits or thought patterns do you need to continue to encourage your growth or eliminate that could prevent you from achieving your goals?
Before setting goals it's important to analyse and understand why you are in your current position irrespective of whether you are happy with your current position or not. Quite often people fail to achieve their goals because they do not work on eliminating the self sabotaging habits that they have.
Once you have done some deep self analysis, take some time to think about your Ultimate goal for your Finances? How do you want your life to be within the next 5 or 10 years and by the time you reach the age you would like to retire? Once you know what your ultimate goal is ensure that it is specific and measurable an ultimate goal like 'I want to be successful or I want to be very rich' is not specific at all. What does successful or being rich look like to you, is there a specific figure you would want to earn, assets you want to possess or a specific place that you want to live?
In order to reach your ultimate goal, you will need to use smaller steps (smaller goals) which will allow you to accomplish your ultimate goal. Knowing what you want is important BUT it is equally important to think of strategies and actions you will implement to accomplish each goal. Action is what separates planners from executers, executers achieve their goals whilst planners are often left feeling frustrated or with feelings of regret for their failure to take action.
In your journey to achieving your Ultimate goal, you will make mistakes and may fail on numerous occasions, do not allow temporary failures to cause you to make the permanent decision of giving up on your dream! With every failure, review what went wrong and learn from it, persist and innovate your actions and you will see the results you desire. The problem with most people is that they give up too easily or they keep trying the same actions hoping they will get different results.
Always remind yourself of your ultimate goal as often as possible especially in moments where you are feeling down or on the verge of giving up and BELIEVE that no matter what happens around you, it will happen. Look at your Financial plan at least once a month, create the habit of reading it weekly and visualising the life you desire to live. Review your progress on a weekly or monthly basis to asses whether the actions you are taking are bringing you closer to achieving your goals. If they are not, create new actions and start implementing them.
If you found from this 3 part series your Finances were withering, implement the 3 nutrients we discussed and be committed to your vision! Whatever your mind can conceive, you are capable of achieving!
If you want to have 1-1 support and guidance on how to build a solid foundation in your Finances check out the Financial Coaching page or the Coaching Plans page for more information on the sessions that I provide and you can also view the amazing testimonials. You can also send me a message via the contact page.
Have a great day and a productive week, you've got this!
Your Finance P.T