Category Archives: Mindset

Growing Your Gratitude

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“The single greatest thing you can do to change your life today would be to start being grateful for what you have right now. And the more grateful you are, the more you get.” — Oprah Winfrey

By cultivating a life of gratitude, you will be able to feel joy no matter what your circumstances are. As dark as things might seem, if you can dig deep and find something to be grateful for, your whole attitude can change.

According to an article in Psychology Today, “Scientists say that these techniques (focusing on gratitude) shift our thinking from negative outcomes to positive ones, elicit a surge of feel good hormones like dopamine, serotonin and oxytocin, and build enduring personal connections.”

Being grateful shouldn’t be reserved for those times when it’s easy to be grateful, either. Gratitude promotes life. It’s optimistic. Practical. It takes courage and brains to be grateful.

Gratitude clears the way for positive choice and change. It motivates and moves you into a higher place so you feel better. Hopeful. Strong.

When you appreciate things you’re kinder. Gratitude boosts you physically, mentally and emotionally.

Gratitude helps you build wealth

Nourishing yourself with gratitude makes you feel stronger, more alert and alive. It builds up and strengthens your entire body, mind and spirit.

Six strategic steps to fill up your gratitude account:

  1. Call it “intentional gratitude” or “conscious appreciation” but build a new habit of expressing gratitude frequently. It will make you feel fortunate, powerful and kind.
  2. Create a specific daily mantra for yourself — a prayer, wish, vow or commitment —
    ‘I am grateful for_______________’. Have it in your mind. Say it to people. Write it in notes and emails.
  3. “Thank you” takes one second to say. Consciously look to express it and do good things often. Don’t miss an opportunity to be grateful.
  4. Start a Daily Gratitude Journal – Write 3 things you’re grateful for every night before bed.
  5. How does gratitude live in the world? Look for examples in music, art, literature, daily life, history, people you see and know.
  6. Acknowledge negativity and counter it with genuine appreciation and thanks.

“Gratitude is strongly and consistently associated with greater happiness. Gratitude helps people feel more positive emotions, relish good experiences, improve their health, deal with adversity, and build strong relationships…regardless of the inherent or current level of someone’s gratitude, it’s a quality that individuals can successfully cultivate further.”

References:

  1. https://www.huffpost.com/entry/grow-your-gratitude-six-easy-steps-for-smart-people_b_5760096
  2. https://www.aplanforjoyinthehome.com/grow-in-gratitude/
  3. https://www.seventeen.com/life/a37198250/gratitude-quotes/

Major Definite Purpose

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“A man without a definite major purpose is as helpless as a ship without a compass.” – Napoleon Hill

Napoleon Hill emphasized in his book “Think and Grow Rich” that the first step of learning how to “Think and Grow Rich” is figuring out what you desire more than anything else – and then coming up with a plan to act on it.

Hill puts a great importance on individuals deciding on a definite major purpose. Yet, it’s not unheard of for people to get stuck on this first step.

In fact, the #1 question that most ask is: “How do I determine what my definite major purpose is? I just don’t know what it is I want to do!”

It is said widely that ninety-five percent of the people of the world drift through life aimlessly without definite purposes for their lives.

Psychological reason for having a definite purpose in life implies that one’s actions are determined by the thoughts of one’s mind. Therefore, if you deliberately hold your definite purpose in your mind with the expectation of it realization, this will permeate your subconscious mind to the point where it will automatically influence the actions needed to achieve your definite purpose.

Once you determine your definite purpose, make sure that it is well-defined. You must write it down and place it where you can see it as soon as you open your eyes in the morning and the last thing that you see before you close your eyes at night.

What is your Life’s Mission? What is the number one purpose in your life? Why are you here? What are the most important accomplishments you desire? And what are you willing to give in return for them? 

What one great thing would you dare to dream if you knew you could not fail, asks Brian Tracy?

“If you could be absolutely guaranteed of successfully achieving any goal, large or small, short term or long term, what one goal would it be?  Whatever you answer to this question, if you can write it down, you can probably achieve it.  From then on, the only question you should ask is, ‘How?’  The only real limit is how badly you want it and how long you are willing to work toward it.” Brian Tracy

Once you know your bigger purpose, it’s easier to figure out your next actions.  And, when you know your bigger purpose, it can help you funnel your time, talent, energy, and effort into something that really matters to you.

Definite Purpose:

If you cannot see the end of the journey, you cannot plot the course to that destination.

Thus, it’s essential to determine “The one goal that is most important to you at the moment. It is usually the one goal that will help you to achieve more of your other goals than anything else you can accomplish,” Tracy writes. In his, “6 Attributes of Your Major Definite Purpose,” Tracy writes:

  1. Your major definite purpose must be something that you personally really want, excites you and makes you happy.
  2. Your major definite purpose must be clear and specific.  You must be able to define it in words and must be able to write it down.
  3. Your major definite purpose must be measurable and quantifiable.
  4. Your major definite purpose must be both believable and achievable.
  5. Your major definite purpose should have a reasonable probability of success.
  6. Your major definite purpose must be in harmony with your other goals and aligned with your values.

“Decide now what you desire from life and what you have to give in return.”

To achieve success, you have know exactly what you want and what you are willing to give-up in return….success and achievement are a two-way street.

References:

  1. https://sourcesofinsight.com/major-definite-purpose/
  2. https://www.mavericonsulting.com/news/2018/12/14/what-is-definiteness-of-purpose-and-why-is-it-so-importantnbsp
  3. https://thinkandgrowrichinstitute.com/definite-major-purpose/

Since 1937, over 120 million copies of Think & Grow Rich have been sold, and it’s the #1 book most people who have successfully built wealth credit with their success.

Purpose in Life: Standing for Something

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“We have the vision, which is the what. We have the mission, which is the how. We have the purpose, which is the why.”

There is a well worn aphorism that goes, “If you don’t stand for something you will fall for anything.” In other words, you must have a purpose for your life, or you’re likely to live aimlessly and to live a life without meaning.

To psychologists, purpose is “an abiding intention to achieve a long-term goals that is both personally meaningful and makes a positive mark on the world.” The goals and dreams that foster a sense of purpose are ones that can potentially change the lives of other people, like launching an organization, researching a disease, or teaching kids to read.

Your purpose will change over the course of your lifetime as your identity and responsibilities changes when going from teen into adulthood, and make the shift to retirement.

Like happiness, purpose is a journey and a practice. That means it’s accessible at any age, if you’re willing to explore what matters to you and what kind of person you want to be—and act to become that person.

If we’re able to revisit and renew our sense of purpose as we navigate milestones and transitions, suggests this research, then we can look forward to more satisfying, meaningful lives.

It’s imperative for young and old alike to know and embrace their purpose in life. By doing so, it gives life meaning and a mission. It gets you up out of bed in the morning and make your day joyful and rewarding when done with purpose.

Vision Mission Purpose

A vision (What) is where you are going or what you will become. It’s what the future looks like if goals and intentions are accomplished and laid out to be the driving force of how you define success. It is your destination at a point in the near or distant future. Vision defines your goal and sets the expectation of what you’ll experience when you arrive at the destination.

A mission (How) is an actionable vision statement — something that will give the vision legs and traction. It’s the what, who and why. It helps you define the immediate goals and helps you stay focused on the plan. It is the path you follow to arrive at your destination: When someone asks you where you are going, they ask you how you are going to get there. Your mission is the how: the unique way you do what you do, the path you choose to follow, the decisions you make to get to your destination.

Purpose (Why) is your sense and feeling of resolve or determination. It’s your why for you are doing the work you are doing. What great problem are you solving, or what movement are you championing? It’s your why do you show up. It is the reason you began the journey, guided by the deeply-held values and beliefs that inspire it to make a difference.

Your purpose is the reason you exists beyond making money. And, once you know your purpose, you know what fulfills and completes you.

Purpose focuses on three elements:

  • Why do you believe you can make a difference? — Purpose needs a reason.
  • How do you achieve? — Purpose needs a plan.
  • What will it look like when you achieve it? — Purpose needs vision.

If you’re creating or evaluating your mission statement, substitute the words Why, How, and What for Purpose, Mission, and Vision. These substitutions will help you minimize any confusion between the terms and what they mean.

  • Purpose guides you. Your purpose articulates the why you do what you do, why you exists beyond making money.
  • Mission drives you. Your mission statement is how you accomplish your purpose. Your mission is what drives you every day to fulfill your purpose. It’s a direct path between your purpose and vision. Mission is doing what matters and eliminating the distractions; it activates the strategy that delivers results and impact.
  • Vision is where you aspire to be. Your vision statement is what you will experience and achieve in the future, the results you are reaching for, the measurable impact you want to make. Your vision reminds you what the difference you make will look like and what change will happen. Vision aligns leaders and followers. Vision keeps you on course, to fulfill your purpose.

Vision is the picture. Mission is the road map to get there. Purpose is the feeling that you have when you accomplish what you set out to do. For example, here is a life purpose that might resonate:

“My life purpose, to love and honor God, is foundational. My professional purpose is to be a ‘Builder’ of a future that transcends ways of working for the wellbeing of people and businesses throughout the world.” –Miles Everson, Former Vice Chairman, PwC US

Your mission is your vision in action, connecting your purpose. Here are a few additional examples of purpose statements:

  1. I want to instill in others the self-love and confidence that gives them the self-efficacy to excel and make their dreams come true.
  2. To live each day to the fullest and appreciate, as well as learn and grow from every experience.
  3. To achieve the education required to serve the purpose God intended for me. With that education, I will give back to society generously, and remarkably leave the world in some concrete way better than it was before my contribution.
  4. To be a father who raises sons to be caring, loving, respectful, responsible men, protective of their loved ones, and daughters to be caring, loving, respectful, responsible women who know their value and will not compromise it.

Billionaire investor Warren Buffett says, “The difference between successful people and really successful people is that really successful people say no to almost everything.” Once you have clear and meaningful purpose, vision and mission, you’re better able to focus your attention on what’s most important and what you value the most in life. And, you learn to say “no” to everything else.

References:

  1. https://greatergood.berkeley.edu/topic/purpose/definition
  2. https://www.forbes.com/sites/forbescoachescouncil/2020/03/04/vision-mission-and-purpose-the-difference/?sh=113e4e70280e
  3. https://www.aespire.com/blog/communications/the-difference-between-your-purpose-and-mission
  4. https://zety.com/blog/personal-mission-statement
  5. https://www.lifehack.org/articles/lifestyle/10-wise-lessons-what-i-wish-i-knew-when-i-was-younger.html

Believe in yourself.

You are often your own worst critic, and so can you be your own best supporter. If you do not have confidence in your own value, abilities and contribution, then nobody else will either. You must have faith in your intrinsic worth. We each have something to offer that is necessary and valuable, though we may not know what that something is.

You do not have to be able to see the end zone. Just because you aren’t able to visualize where you might go and how you might succeed, that doesn’t mean it will not happen. And just because you may have made mistakes does not mean that you can’t achieve your goals in the future. You can do far more than you can imagine if only you believe you can.

Just for Today

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Think and act cheerfully, and you will feel cheerful.

Create your happiness by follow daily program of cheerful and constructive thinking written by Sibyl F. Partridge.

  1. Just for today, I will be happy. This assumes that what Abraham Lincoln said is true, that “most folks are about as happy as they make up their minds to be.” Happiness is from within; it is not a matter of externals.
  2. Just for today, I will try to adjust myself to what is, and not try to adjust everything to my own desires. I will take my family, my business, and my luck as they come and fit myself to them.
  3. Just for today, I will take care of my body. I will exercise it, care for it, nourish it, not abuse or neglect it, so that it will a perfect machine for my bidding.
  4. Just for today, I will try to strengthen my mind. I will learn something useful. I will not be a mental loafer. I will read something that requires effort, thought and concentration.
  5. Just for today, I will exercise my soul in three ways; I will do somebody a good turn and not get found out. I will do at least two things I don’t want to do, as William James suggest, just for exercise.
  6. Just for today, I will be agreeable. I will look as well as I can, dress as becomingly as possible, talk low, act courteously, be liberal with praise, criticize not at all, not find fault with anything and not try to regulate nor improve anyone.
  7. Just for today, I will try to live this day only, not to tackle my whole life problem at once. I can do things for twelve hours that would appall me if I had to keep them up for a lifetime.
  8. Just for today, I will have a program and plan. I will write down what I expect to do every hour. I may not follow it exactly, but I will have it. I will eliminate two pests, hurry and indecisive.
  9. Just for today, I will have a quiet half-hour all by myself and relax. In this half-hour sometimes I will think of God, so as to get a little more perspective on life.
  10. Just for today, I will be unafraid, especially I will not be afraid to be happy, to enjoy what is beautiful, to love, to believe that those I love, love me.

Written by Sybil F. Partridge and printed in How To Stop Worrying, And Start Living by Dale Carnegie, 1951

Inspiring Story: Small Actions can Pay Big Dividends

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“If you cannot do great things, do small things in a great way.” – Napoleon Hill

A man was asked to paint a boat. He brought his paint and brushes and began to paint the boat a bright red, as the owner asked him.

While painting, he noticed a small hole in the hull, and quietly repaired it.

When he finished painting, he received his money and left.

The next day, the owner of the boat came to the painter and presented him with a nice check, much higher than the payment for painting.

The painter was surprised and said “You’ve already paid me for painting the boat Sir!”

“But this is not for the paint job. It’s for repairing the hole in the boat.”

“Ah! But it was such a small service… certainly it’s not worth paying me such a high amount for something so insignificant.”

“My dear friend, you do not understand. Let me tell you what happened:

“When I asked you to paint the boat, I forgot to mention the hole.

“When the boat dried, my kids took the boat and went on a fishing trip.

“They did not know that there was a hole. I was not at home at that time.

“When I returned and noticed they had taken the boat, I was desperate because I remembered that the boat had a hole.

“Imagine my relief and joy when I saw them returning from fishing.

“Then, I examined the boat and found that you had repaired the hole!

“You see, now, what you did? You saved the life of my children! I do not have enough money to pay your ‘small’ good deed.”

So no matter who, when or how, continue to help, sustain, wipe tears, listen attentively, and carefully repair all the ‘leaks’ you find. You never know when one is in need of us, or when God holds a pleasant surprise for us to be helpful and important to someone.

Along the way, you may have repaired numerous ‘boat holes’ for several people without realizing how many lives you’ve save.

Make a difference….be the best of you

So, no matter who, when, or how… just continue to help, sustain, wipe tears, listen attentively and carefully repair all the ‘leaks’ you find, because you never know when one is in need.

Along the way, you may have repaired numerous ‘boat holes’ for several people without realizing how many lives you’ve save.

References:

  1. https://www.kindspring.org/story/view.php?sid=137702
  2. https://motivateus.com/stories/hole-in-the-boat.htm

“Those who joyfully leave everything in God’s hand will eventually see God’s hand in everything. Worries end when faith begins.” – Nishan Panwar

Working on Your Goals and Expressing Gratitude Everyday

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“With whatever you are struggling to master in your life, create a small habit or routine that gets you one step closer to it each and every day. ” Brendon Burchard

Now more than ever is the time to really appreciate the small, meaningful moments in life. It’s time you stop waiting for ” the anvil of purpose” to fall onto your head and suddenly everything, like life’s vision, purpose and meaning, become clear!

Instead, sit down with yourself and really think about what that purpose, that meaning, that vision for your life can really be.

There is no better time than the present to start this journey of self-exploration and find the ways in which you can truly feel alive, fulfilled, and happy in this life.

Thus, it’s important to make getting better everyday and self-improvement a way of life. It’s important to:

  • Begin the journey to think about and clarify your life’s vision, purpose and meaning.
  • Focus more on expressing gratitude and incorporating everyday wins back into your week and taking the time to appreciate them and let them sink in.
  • Focus more on your habits and long-term goals, and connecting back to your vision and purpose.

In the past, how many times did you achieve something or have special moments with your kids, spouse or friends, only to quickly move on to the next thing?

Life is so short to breeze by these special moments and not appreciate them. Really take the time to feel the day and fill your heart with gratitude. You’ll be happier too!

There’s still time to reclaim your day and schedule activities that add real value and meaning back into your routine. By pursuing your dream for 2 minutes or even 30 minutes every single day.

Don’t wait until next weekend when you might have the time for your goals and vision. Tomorrow isn’t guaranteed and that big dream of yours isn’t going to materialize if you keep pushing it off.

Break down your big audacious goals into quarterly, monthly, weekly, and daily goals. Work on your goals every single day and you will move the needle in your progress and success.

Additionally, if you want to achieve your goals, you should develop a growth mindset. A growth mindset allows you to explore more, take more risks, try new things, and grow more into what you’re capable.

The Power of Reflection

Clarity only happens when you reflect on your long term goals, habits and relationships — daily. It might be time to take a hard, unflinching look at your own performance in these important areas of your life.

When you live a life with intention each day, that brings about true purpose and meaning to your life. And when your days are filled with more purpose and meaning — more happiness and fulfillment tends to follow. And isn’t that the ultimate goal? To live a happy, purposeful and meaningful life.

Personal growth, goals and purpose are things that must be worked on everyday, otherwise you will lose touch with them.

Your Wealth Building and Financial Freedom Coach,

References:

  1. https://growthday.com
  2. https://www.growthday.com/hps-v4

Small, daily actions can gather momentum to become an unstoppable force of change.

  • Outcome – goals and vision
  • Process – habits and systems
  • Identity – mindset, beliefs and thoughts

It’s not too late to prioritize your health and wellness, explains Brendon Burchard,

! If you haven’t already, put your health at the forefront and do everything you can to get your healthy eating, sleep, and exercise routine in place. Because small, daily actions can gather momentum to become an unstoppable force of change.

Tips to Feel Better – Mindfulness

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“Mindfulness gives you time. Time gives you choices. Choices, skillfully made, lead to freedom.” – Bhante Henepola Gunaratana

Feeling good means that your body and mind are working at their peak level, and you have a general sense of well-being, says David Rakel, MD, founder and the director of the integrative medicine program at the University of Wisconsin (UW). The vision of the UW’s program is “Inspiring health and wellness in patients, communities, and ourselves”.

Life is short and a precious gift. Thus, it’s critical to enjoy and live fully each day To feel good day after day, Rakel suggests:

Stay focused on the present moment.

“If we can learn to recognize the clutter that our mind is in and learn to be more mindful of the present moment, that can be a tremendous asset to our overall sense of well-being,” Rakel says. The “clutter” that can make you feel bad includes regret about the past and worry that bad things might happen to you.

A practice called mindfulness can help you reduce the clutter by keeping your focus on the present moment. Mindfulness means maintaining a moment-by-moment awareness of our thoughts, feelings, bodily sensations, and surrounding environment, through a gentle, nurturing lens.

Mindfulness also involves acceptance, meaning that we pay attention to our thoughts and feelings without judging them—without believing, for instance, that there’s a “right” or “wrong” way to think or feel in a given moment. When we practice mindfulness, our thoughts tune into what we’re sensing in the present moment rather than rehashing the past or imagining the future.

To be more mindful, try to:

  • Take in the colors, sounds, and smells that surround you at any given time.
  • Pay attention to your breath moving in and out of your body for a few moments.
  • Let worrisome thoughts flow out of your mind when they pop up, rather than giving them attention and dwelling on them.

Studies have shown that practicing mindfulness, even for just a few weeks, can bring a variety of physical, psychological, and social benefits. Here are some of these benefits according to The Greater Good Science Center at the University of California, Berkeley, which extend across many different settings.

  • Mindfulness is good for your bodies: A seminal study found that, after just eight weeks of training, practicing mindfulness meditation boosts your immune system’s ability to fight off illness. Practicing mindfulness may also improve sleep quality.
  • Mindfulness is good for your minds: Several studies have found that mindfulness increases positive emotions while reducing negative emotions and stress. Indeed, at least one study suggests it may be as good as antidepressants in fighting depression and preventing relapse.
  • Mindfulness changes our brains: Research has found that it increases density of gray matter in brain regions linked to learning, memory, emotion regulation, and empathy.
  • Mindfulness helps you focus: Studies suggest that mindfulness helps you tune out distractions and improves your memory, attention skills, and decision-making.

In addition to mindfulness, it’s important to try to stay positive and focus on the positive.

The same event can happen to two people, and one views it as a positive and one views it as a negative. So try to see the good side of the things and people around you; it can help you stay free of anxiety and depression, Rakel says.

And, there is a strong connection between psychological health and longevity. In fact, optimism, purpose, and happiness have all been tied to living longer, suggesting you may want to cultivate these attributes in your life.

“How we pay attention to the present moment largely determines the character of our experience, and therefore, the quality of our lives.” – Sam Harris

Make a spiritual connection.

Rakel defines this as spending time on “that which gives your life meaning and purpose.”This could be your religious beliefs, enjoying nature, or sharing moments with loved ones. “If we get up in the morning excited about something that gives us meaning and self-purpose, our bodies do all they can to heal,” he says.

Be around people.

Having a good support network of family, friends, coworkers, and other people who care about you can help you stay healthier, feel less stressed, and even live a longer life. Spend time with these people regularly, and work to keep your relationships with them strong.

Bottomline, by being mindful, you can train yourself to live in the present moment to handle life’s challenges with a clear mind to help you feel better and live your best life.

Focus on good health and emotional well-being.

“Mindfulness is deliberately paying full attention to what is happening around you– in your body, heart, and mind. Mindfulness is awareness without criticism or judgment.” – Jan Chozen Bays

Healthy aging

If you want to live a long, healthy life as you age, it’s important to keep physically healthy by eating right, exercising, and getting enough sleep.

People with significantly higher than average life satisfaction, positive feelings, purpose in life, or optimism at age 50 lived an average of five to eight additional years. “Achieving high levels of these aspects of well-being have really important impacts on people living longer and healthier lives,” says researcher Jennifer Boylan, University of Michigan’s Health and Retirement Study. “Their presence is worth focusing on more than it has been.”

References:

  1. https://www.webmd.com/balance/features/more-energy
  2. https://greatergood.berkeley.edu/topic/mindfulness/definition#why-practice-mindfulness
  3. https://greatergood.berkeley.edu/article/item/four_keys_to_wellbeing_that_may_help_you_live_longer

Visualization: Your Life In Focus

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“The key to effective visualization is to create the most detailed, clear, and vivid a picture to focus on.”

Research shows that the more you focus on the things you desire, the better chance you have at getting them. Thus, knowing what you want and focusing on what you want are essential for success and achieving your best life.

As you might ascertain, having a clear direction of where you’re headed or where you want to go is essential. Without a clear purpose and goals, it can be very easy to get caught up in things that aren’t actually moving you forward in your life’s journey.

For example, struggling comedian and actor, Jim Carrey used to picture himself being the greatest actor in the world. When Carey was still a “wannabe” during one of his appearances on “The Oprah Winfrey Show”, he spoke about his early days trying to make it in the entertainment business. He was broke and had no future. But he took a blank check and wrote out $10 million dollars to himself for acting services rendered and dated it five year in the future.

Subsequently, he carried that check in his wallet at all times and looked at it every morning, visualizing receiving $10 million. Five years after he wrote the check to himself, he found out that he was going to earn $10 million from the movie “Dumb and Dumber.”

“Create the highest, grandest vision possible for your life, because you become what you believe.” Oprah Winfrey

Vision boarding is an excellent way to get clear on your goals. Creating a vision board is a powerful way of getting to know yourself and what it is you truly want in your life.

A vision board is essentially a physical (or digital) manifestation of your goals. Vision boarding involves collecting images or objects that speak to the future you want to create and arranging them on a board for a tangible and aesthetically pleasing reminder of where you’re heading.

References:

  1. https://seatgeek.com/tba/articles/oprah-winfrey-2020-vision-tour-dates-tickets/
  2. https://www.mindbodygreen.com/0-20630/8-successful-people-who-use-the-power-of-visualization.html
  3. https://www.mindbodygreen.com/articles/how-to-make-a-vision-board

 

“Success = Knowing, Growing, Acting and Serving.”

Habits and System Building

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“Your system is the collection of daily habits.” James Clear

Behaviors and Beliefs are a two way Street, says James Clear, author of “Atomic Habit”. Effectively, the way you act influences what you believe about yourself; what you believe about yourself influences the actions you take and the manner in which you behave. But, you should let the behavior lead the way, explains Clear.

Every action you take on a daily basis is a vote regarding the person you are currently and want to become in the future. Everyday you’re casting votes to become the person you see yourself. Habits matter because they reenforce the person you want to become.

Build a system.

You want to focus on developing a process / building a system or achieving a goal or outcome. You don’t rise to the level of your goals, you fail to the level of your system. Building the system — the way you prepare — that executes on achieving your goals is what is important. The system is what gets you closer to your destination. Ask yourself what you’re optimizing for?

Your goal is your desired outcome. Your system is the collection of daily habits you follow. Your system is your collection of daily habits you follow. Your current daily habits are perfectly designed to deliver your current results. Over a long period of time, your life bends towards your system, or collection of habits.

The purpose of habits:

Habits are the autopilot mode that your brain goes into when completing repetitive tasks, according to James Clear, author of “Atomic Habits”. For example, driving to work, the first time you do it, it may be confusing and stressful but after a few weeks your mind is just going through the motions, explains Clear.

Not having a grasp on your habits means not having control of your life and outcomes…consider:

  1. No financial habits = living pay check to paycheck.
  2. No healthy food and exercise habits = lacking energy and good health.

Without good habits, you will always be behind the curve. Success in your life and finances depends on the effectiveness of your habits and systems.

  • Your system for reading might be to read at least 1 page before bed every night.
  • Your system for exercising might be to do at least 5 minutes of bodyweight exercise every morning.
  • Your system for healthy eating might be to eat at least 1 apple every day for lunch.
  • Habits are the “compound interest”of self-improvement.

The bigger your systems, the bigger your results. Systems are the vehicles that are going to take you to your goals—your goals are simply the destination. Effectively, you don’t rise to the level of your goals; you fall to the level of your systems.

If you want to change the world and do big things, the actions you’re doing every day, your habits, are what are going to get you there. That’s where the things happens.

“You do not rise to the level of your goals.  You fall to the level of your systems.”James Clear

Showing up each day and making one small choice or trying to do something in a slightly better way, and then watching that compound and multiply over time. In life, changes may seem relatively small and insignificant on a daily basis, but over 10 or 20 or 30 years, small choices and changes can make meaningful difference.

What starts out small and seems relatively insignificant, grows and accumulates into something bigger.

Your mindsets and your systems can set us up for success. It is important to understand the importance of consistency when it comes to forming habits that last.

“Changes that seem small and unimportant at first will compound into remarkable results if you’re willing to stick with them for years”, says Clear. “We all deal with setbacks, but in the long run, the quality of our lives depends on the quality of our habits. With the same habits, you’ll end up with the same results. With better habits, anything is possible.”

Small incremental changes can end in massive results. Small improvements day by day will result in a huge compounding effect, says Clear.

References:

  1. https://movemequotes.com/beyond-the-quote-8/
  2. https://brenebrown.com/podcast/atomic-habits-part-1-of-2/
  3. https://theherstonproject.com/2020/11/atomic-habits-summary/

9 Good Financial and Wealth Building Habits

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Developing good financial habits is pivotal to maintaining a healthy financial life. It can be the most important tool you have to reach your goal of eliminating personal debt. Regardless of any bad money habits you’ve had in the past, there’s always time to make changes for the future.

When adjusting your approach, don’t hesitate to learn from others. This could be the difference between success and continuing down the same old path.

Below are nine good financial habits.

1. Create a budget.

The median household income in the United States in 2019 was $68,703. Whether you earn more or less than this, a budget can help keep your finances on track.

When you know how much you earn, it’s much easier to determine how much you can comfortably spend each month.

2. Avoid or consolidate higher-interest credit card and personal debt.

Unexpected expenses can come up and we don’t always have the cash to pay for them. So we might swipe a credit card or take out a loan.

The good news is you may be able to consolidate your higher-interest debt with a fixed rate personal loan, saving time and interest costs.

If you’re paying a high interest rate on debt, and you had the opportunity to pay a lower rate that might lessen your monthly payment, why wouldn’t you?

3. Understand your financial circumstances.

You need to understand every aspect of your financial situation. From how much you earn to how you’re spending your money, every last detail is important.

With an understanding of your finances, you’ll always know what makes the most sense for you and your money.

4. Learn from past mistakes and failures.

Learning from you past mistakes is one of the most critical money habits you can form. Even the most successful people make financial mistakes from time to time. For example, maybe you buried yourself in store card debt. Or maybe you “bit off more than you could chew” with a car loan.

It’s okay to make financial mistakes, as long as you learn from them and use what you learn to manage your debt.

5. Set goals and create a plan .

Have you set both short- and long-term financial goals? Are you tracking your progress, month in and month out?

Taking this one step further, you can do more than think about goals in your head. See where putting your goals to paper takes you. You could get a new sense of clarity and focus with everything written out in front of you.

According to a research study completed by Gail Matthews at Dominican University, people who write down their goals accomplish “significantly more.”

6. Ask questions.

Although you know your financial situation better than anyone else, there are times when it makes sense to ask questions.

For example, a CPA can provide guidance related to your tax situation. With more than 658,000 of these professionals in the United States alone, there are plenty of options for advisement.

7. Save for retirement.

Many Americans carry debt and find it difficult to save money. These challenges can make it hard to pay attention to retirement savings. In fact, a recent Employee Benefit Research Institute survey found a majority of people saying debt may be a hindrance to their retirement plans.

You won’t be alone if you opt against saving for retirement, but if comfortable retirement is one of your goals, look towards the future. Putting a bit of money away for retirement is a good financial habit; consolidating higher-interest debt so that you save money on interest may be one way to find more savings opportunities.

8. Automate your savings.

There are many reasons why people may not save as much money as they should. For example, they may touch every bit of money they earn, meaning it never ends up in the right place.

Protect against this by automating savings. Think about it like this: you can’t spend money that you don’t see or touch.

9. Pay down debt.

Taking on debt can be a successful strategy as long as you’re comfortable with two things:

  • The monthly payment
  • Your ability (and willingness) to pay down the debt.

The longer you let debt linger the more you’ll pay in interest. Furthermore, debt can hold you back from reaching other goals, such as saving for retirement.

If you implement these nine good financial habits, you may end up feeling better about your current situation and what the future will bring.

Creating a wealth plan

A well thought out wealth plan rests on three essential pillars:

  • Save
  • Invest
  • Repeat

These are the core principles of every wealth plan. Disregarding even one will render a wealth plan useless. An important aspect to consider is that a wealth plan should be tailored to each individual’s needs and goals. So pay attention, and make sure that these simple steps are followed in order to create a wealth plan that allows individuals to achieve their dreams of building wealth and financial freedom.

A wealth plan is a resource to help you achieve your financial goals. As it allows you to plan, and use it as a guide throughout your journey. However, having a wealth plan is not a guarantee of anything.

Achieving wealth is like building a house. Thus, having the best architectural design will not ensure that the final product will be outstanding. This is why execution is the differentiating factor in achieving wealth. There are certainly several advantages to having a well-thought-out plan to help you in this process, such as:

  • Clear vision over goals
  • Easily control expenses and estimate savings
  • Automate investments
  • Define a strategy to achieve wealth
  • Adapt your strategy over time

In essence, a wealth plan acts as a roadmap to financial freedom. The main difference is a map usually has a clear path towards a destination. A wealth plan, on the other hand, is filled with unknowns and obstacles that may lay ahead.

In essence, a wealth plan acts as a roadmap to financial freedom.

References:

  1. https://www.discover.com/personal-loans/resources/consolidate-debt/good-financial-habits/
  2. https://goodmenproject.com/featured-content/how-to-create-a-wealth-plan-get-started-now/