(Last Updated On: January 21, 2019)
We all work for money and exchange it for goods and services such as utilities, food, housing and all the essential things we need to survive. How much money we make determines our lifestyle and our financial authority during our lifetime. Time is life, and we spend life working for money to satisfy our needs and wants…so I know that success has to be pretty important to you. Unfortunately, some of us don’t reach our full potential and we live below the mark. But with some common sense solutions, we can redeem the time by:
Determined to Succeed
We all have “wants.” How we pace ourselves in our pursuit of these wants determines our prudence. How we juggle them against our needs, determine whether we become financially stable, or wealthy and how long it takes us to get there.
How we leverage time, opportunity and knowledge, is also an indication of where we will find ourselves financially in the future.
Since our habits result in our present and eventual outcome, we must immediately seek to audit our habits and follow good principles that will guarantee a successful life.
There is hope. We can live our best life yet!
Breaking Bad Money Habits, I Can’t Afford to Be Poor!
All of us have some sort of bad habit. In order to break these unwanted and regressive habits, we must have a plan. Any bad habit is undesirable but what we can’t afford are bad financial habits. These will affect every area of our lives and suppress any likelihood of successful living. Failure in this area affects a wide range of other areas in our lives. I don’t even have to list those here… Let’s try this little but important exercise below.
3 Ways to Break Bad Financial Habits
# 1 – Stop and examine what is causing you to engage in these bad habits
- Identify the root cause(s) e.g.
- You don’t budget because you believe you don’t have enough
- You believe that it is too late to change old bad habits
- You live beyond your means (usually a big one)
# 2 – Write down the plan you will use to overcome your challenges
- Discuss and create the plan with a suitably trained friend or financial counselor
- Set short-term goals within a long-term plan for financial success and otherwise
- Execute the plan
- Be accountable to the friend above (counselor) about your finances from here on
# 3 – Celebrate each successful fulfillment of the plan (goals)
- Revise and tweak the plan
Surround Yourself with People Who Inspire You
Now let’s look at time again and how it plays a huge factor in our success. How we utilize time and who we spend it with is key to implementing and sustaining all that we did before in the exercise. Look for people that inspire you and by that, I am not saying to look down on others or not associate at all. Rather, strive to link with those who encourage good lifestyle habits.
Set the boundaries concerning what you do and how much time you spend with others (remember, time is life, spending time = spending life). Sometimes “others” can be anyone…
Trading Time for Money — Time Is Life
We trade our time every day for money and that’s why our time is so important. In the marketplace, there is a “money for your life” exchange going on. Our time equals money and money is what we trade our lives for. The other things we do when we are not trying to make money is;
- Rest, relax
- Spend time with family and friends, church etc.
- Reinvest that time into education/training to increase our value
Time is money; Time is life; Time is priceless; Time is important!
The list will vary according to who we are but essentially, our time is our greatest “commodity.” It is our greatest “asset” and can also be our greatest “liability.” We must use it responsibly and to the best of our ability.
So when I tell you I am busy, please understand that I mean no offense. I am spending some of my life-currency somewhere else at present. When we spend time with people or activities, we are literally spending our lives (using up and giving away value). Use your time wisely. Time is life Click To Tweet
My Decisions and Actions Create My Reality
Then we have the reality of it all. Our current situation, our power, our worth. Our present reality is the cumulative sum of all our thoughts and decisions we have made in life so far. These thoughts and decisions have determined our “now” i.e. our current reality.
If we truly believe this, our greatest desire will be to ensure that every decision we make from now on, is the best one.
You may now be wondering why I have used the word “determine” so often in this post.
The word “determine” (there he goes again) means to settle, to decide or come to a resolution. Which then calls to mind another word, “accountability” or personal responsibility. When we combine all that with the fact that we are the ones who make the decisions in and for our lives (including our loved ones), we should pay serious attention to the potential we have to change the present and the future.
Personal Responsibility and Accountability – The Road to Success
Since we are the ones who make decisions concerning our lives, we must take full responsibility for them. We cannot blame anyone for any bad situation caused by our own decisions.
In order to succeed, we must have a clear plan and stick to it. It’s a shame that this is not systematically taught in schools. By the time some of us come to our senses, half of our lives would have already been spent, but don’t give up just yet. There’s
Do you know that all of us have had the same clean slate at birth? Yes, we may have come from different backgrounds, had some hardships and less learning aptitude – however, that is no excuse. There are many who have overcome great odds to be successful, and we can too. In some cases, we have had more of an opportunity than many. I am not coming down on anyone but that’s a fact.
Our mindset is what is responsible for our current situation in life. I am assuming that we all embrace change for the better, so if you do, let’s change our stinking mindset. It betrays us and robs us of exceptional living. Why not spend the rest of your life making the most it and being the best that you can be. We have to guard our minds- what we think, we become.
Proverbs 4:22-24 For they are life to those who find them And health to all their body. Watch over your heart with all diligence, For from it flow the springs of life. Put away from you a deceitful mouth And put devious speech far from you…
Choosing Between a Victim or Creator Mindset. I Am What I Believe
If we believe that chance or bad luck is responsible, then our chance of failure is multiplied by the number of possibilities of failure that exist. Why add all of that extra mess to our lives, Click To Tweetall on our own? There is more than enough negative in our lives already. Why live with that additional increase in negativity and potential failure? We must escape from all that trash now, today! Speak life!
Common-Sense Solutions for Financial Success
Let’s look at the following question and its answer:
- Is everything costly or is it that I can’t afford it?
Ans. We probably can’t afford something because we did not properly prepare or position ourselves for current needs/ wants.
Do you agree with this answer? The thing is, whether we agree, this statement is essentially true.
We have no control over the economic climate and high prices for everything under the sun such as;
- Education — (multiply by the number of children in the household)
- Real Estate
- Funerals — (yes, a costly expense for families)
- Car expenses — (multiply by the number of vehicles in the household)
We cannot change or control any economy, therefore, our proper and only course of action is to manage ourselves, strategize and find a way to get on top of the economic climate. We do this by careful analysis of our reality and the actions needed to change our situation.
Some actions can be;
- Seek jobs high in demand
- Increase worth by acquiring new skills and education/training
- Decrease expenditure significantly – yes, it’s possible
- Increase income by creating other streams of income
- Sell skills — no more freebies 🙂 use discretion here
- Proper investing, not just saving but actually putting money to work
- Staying away from debt — the # 1 advice always
- Staying out debt, staying far from debt, settling debt as fast as possible – (reiteration intended)
- No debt apart from mortgage or good debt
*Redundancy is done on purpose.
We cannot simply remain victims of chance or pray for miracles without acting. It doesn’t work like that.
We must be steadfast in our determination to succeed by first of all having a plan, a vision and acting on it daily. We must study and make adjustments to the plan, in order to stay on course in any climate.
Since we humans are prone to habit whether good or bad, we must ensure that we are in charge of every moment. Staying the course and making good decisions is more than just wishful thinking. It’s knowing that our decisions will define our success or failure.
Trees don’t grow overnight and so, success is a concept that must be nurtured along the way. Let’s turn around from the path of failure and use the following recommendations to achieve a new and determined life. We must change bad habits and employ best practices
- We must make good choices
- We must seek mentoring and be accountable to someone who has already succeeded and willing to share their advice
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