We create life and financial goals, which are one in the same since money is the driving force of your lifestyle, and then live from these goals with clarity and focus. Here are 10 money tips to take with you into the New Year. Read on for more advice on how to take your financial game from uneasy to empowered.
1. Create life and financial goals.
These are one in the same since money is the driving force for your lifestyle. Once you’ve defined these goals, you can live from there with clarity and focus. Your goals will provide a foundation for all of your decisions that relate to money, including career, and where and how you live.
2. Create a wealth board.
The strong feelings that visuals trigger actually help you achieve your goals. This simple technique is used successfully by Olympian athletes. It will also serve as an encouraging reminder of why you’re doing what you’re doing when the going gets challenging.
3. Increase your income to create wealth.
Everyone automatically focuses on cutting expenses, which has very limited upside. While spending consciously is important, it doesn’t create wealth. Besides, it’s way more fun to brainstorm 10 potential ways to increase income than to decrease spending.
4. Invest in yourself.
Everyone has skills that others need; identify yours, and think of yourself as a contributor of your talents, for which you’re well paid. If you need to get some training or a certification to increase your marketable value, it’s probably a very smart investment.
5. Love your money.
What you love gets your attention, and then it grows. Give your money attention by scheduling monthly wealth creation time on your calendar. If you have a family, involve them as well. Make it fun and engaging with games and challenges that instill important life lessons.
6. Be a bank.
Get paid for having money that you invest in a variety of assets, instead of paying a bank for borrowing their money. Using debt only to purchase assets that increase in value over time, especially after down cycles, enhances this principle. Real estate is a good example.
7. Allow money to be joyful.
Money often has a terrible ethos, but we all know the wonderful anticipation of a vacation, the deep satisfaction of giving, or the delight of that perfect new dress. Celebrate that money is magnificent, because there’s always much to be happy about that money did, in fact, provide.
8. Take responsibility.
It’s easy to blame the economy, the man in your life or the politicians for your financial woes, but the problem with this mindset is that there’s no resolution. The truth is that your financial life is a factor of your choices. Once you own this, you can create positive change.
9. Define clearly why you want money
Is it a kitchen remodel, a trip to the islands, or peace from knowing you have a big stash of money? Assign a target date for funding each desire, including both near and longer term goals.
10. Practice gratitude
Focus on what you have, not what you don’t have. This habit creates a wealth mindset that invites expansion and abundance. When you focus on lack, you create more lack in your life. End your day with a list of 5 things you’re grateful for to embrace this timeless wealth principle.
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