1. Find Purpose
Your destination only matters if you have a meaningful purpose in life. Know your life’s purpose and then your life goals, including your financial goals, will come into place.
“Pursue your dreams. You will be amazed about what you can achieve.” ~ Lailah Gifty Akita
2. Negotiate Income
If you’re a salaried employee, negotiate your income. This can be directly in terms of pay and bonuses OR indirectly such as time off and flexibility to work from home. This time negotiated with your current or future employee saves you hours of hard thankless labor.
If you’re on your own, know how much you’re worth. Do not let suppliers or clients take unfair advantage of you. Strive to deliver amazing value but don’t put up with B.S. Find your unique niche.
“All have their worth and each contributes to the worth of the others.” ~ J.R.R. Tolkien
3. Avoid Excesses
Avoid excesses which are unnecessary and a drain on your financial health. Consider and categorize purchases as needs or wants. Be aware of non-monetary leaks such as time and energy sinks which are just as bad, or worse than financial losses. Look for ways to do and be better and simpler. Plugging leaks becomes easier once you’re aware. Also you’ll never look at time the same again once you’re convicted that “time = money” is more than a cliché.
“Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” ~ Steve Jobs
4. Get Educated
Education is not in a good state. Even more dismal is the lack of financial education in our schools. Invest in education that helps you think critically and equips you to make better decisions. Financial learning is not rocket science, and even rocket science can be learnt if you’re persistent and determined. An investment in education gives your returns 2, 3, 10 and 100-fold making it the best possible investment.
“The function of education is to teach one to think intensively and to think critically. Intelligence plus character – that is the goal of true education.” ~ Martin Luther King, Jr.
5. Avoid Lethargy
It is easy to get stuck in a lazy recurring loop of daily living drudgery. Get out of your comfort zone. Try new things. And you’ll soon realize that your new experiences changes you for the better. You get new ideas and energy to launch your business. You meet new people and forge new relationships that lead to new opportunities. But first you need to get your a** off the sofa.
“People are not lazy. They simply have impotent goals – that is, goals that do not inspire them.” ~ Tony Robbins
6. Take Risks
First comes learning and knowing the rules. Then you need to take off your training wheels and take calculated risks. Making mistakes are part of learning but the risks you take that pay off will give you manifold returns covering all your losses and more. Our time and resources on earth are finite. May the odds be with you.
“The biggest risk is not taking any risk… In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” ~ Mark Zuckerberg
7. Give Purposefully
You don’t have to wait until you are a millionaire to start giving. It just won’t happen (even if you win the millionaire lottery what makes you think that you’ll overnight become a philanthropist?) Find ways and places to make a difference in lives. Look at giving not only monetarily but in terms of time, kindness and respect. The simple secret to happiness and wealth is giving and helping others.
“Attitude is a choice. Happiness is a choice. Optimism is a choice. Kindness is a choice. Giving is a choice. Respect is a choice. Whatever choice you make makes you. Choose wisely.” ~ Roy T. Bennett
This article was contributed by My Personal Finances to help you simplify and grow your personal finances. Get more tips and insights on personal finances by visiting MyPF.my today!