We all have dreams for the future, and many of those dreams require money to make them come true.
So today I discuss some ways to get smart about money and help you get on track with your financial goals.
Whether you are just starting out on your way to financial freedom, or you’re stuck along the way and even if you’re doing really well with your financial goals today’s show is for you.
Listen in as I chat with Mark Creedon about setting financial goals and why many Australians don’t achieve their goals and dreams and how you could.
How to get on track to your future financial goals:
- Understand the importance of your money habits and recognise what you are doing right and what you can improve on financially.
- What is your plan and what is your purpose?
- Become smart about money. Ask why money is important to you and what having more money would mean to you.
- View your financial decisions through a lens with more flexibility.
- After finding your why, you’ll need to set some goals and design a roadmap to get you there.
- Honestly evaluate your starting point – how are you doing financially?
- Carl Richard’s 3 guess process. Relax a bit and get going.
- What are your goals? When do you want to do it? Put down a number.
- How much money or how many properties do you need to achieve this?
- Know where you are beginning. Do a balance sheet. Understand your assets and liabilities.
- A lot of people don’t want to do a balance sheet because of emotional issues associated with their financial position.
- Most people have difficulty saving. On the other hand successful people can delay gratification.
- It’s easy to say no to spending when you have a good reason to do so.
- Automate your savings eg10% before you even touch your money.
- Mistake #1 is not putting a plan together.
- Many people never decide to become rich.
- Other people procrastinate.
- The big mistake of immediate gratification and spending more than you earn.
- Don’t get hung up on specifics and details. Give yourself permission to guess when you plan.
- Dump your emotional baggage around money and financial goals. Give yourself permission to move forward. It’s a lesson not a bat to beat yourself on the head.
- Take responsibility and move on. Don’t blame.
- Things change over time.
- You can either be right or be rich.
- You will face a number of roadblocks along the way. You may fail at certain things. Keep in mind it is a process and don’t give up.
Links and resources:
- National Property & Economic Market Update Promo Code: Podcast
- Mark Creedon
- Michael Yardney
- Rich Habits Poor Habits
- Dr. Andrew Wilson
- Ken Raiss
- Carl Richards
- Steven Covey
Some of our favourite show quotes:
“Goals aren’t just dreams and wishes. You have to have an action plan behind them to convert your desire into a reality.” Michael Yardney
“The reason people haven’t achieved their financial goals goes down to a deeper level of poor money habits.” Michael Yardney
“The money is a means to an end it is not the end itself. The first step is to plan.” Michael Yardney
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