Simple steps to managing your wealth better
We’d all agree that the things we want to do with our lives, the places we want to visit and the self-actualising activities we want to experience all boil down to one over-riding theme… Money.
Your financial situation enables you to do, experience and enjoy more, so how well are you managing the situation?
Here are our 5 top tips to effective wealth creation and management:
Have a clear vision
Make your intention to create and manage wealth clear. Decide upon key goals that you want to achieve to benchmark your success.
Example: I want to earn £200,000 a year and invest in a property within 3 years or I want to invest £2mil into a savings account, live off the interest and travel the world.
Is this achievable, is it realistic? Working this backwards helps evaluate a structure for your future.
Stick to the vision
Now stick to it. Ensure you have a plan that coincides with your current level of income and adjust appropriately as it grows; you must live beneath your means to plan for the future you want.
Habit is more powerful than passion. Place pictures of your goals and objectives around your office and home space to maintain “sight” of your vision.
Work towards your goal
“The harder I work, the luckier I get” – Benjamin Franklin 18th Century
A step-by-step plan helps you understand what is required to go from A-to-B in the course of achieving your life goals.
Strength in management and discipline is imperative during this process and having an advisor (close friend, family member or professional) to consult with can help ensure you’re taking the correct steps.
Efficient and bite size
Few people actually work as long as they say they do, human beings are not robots so don’t trick yourself. Time your work sessions to a focussed regime of 90 minutes and then have an active break, refresh and refuel for another 90 minutes of effort.
Split your to-do-list into a “next-to-do” list and plot 6 key items that you want to get sorted by the end of the day and get them done.
This is the same for your objectives, be genuine about your targets and understand that your success will take time to work towards.
At the end of the day
When all is said and done your efforts are only as good as the output. Review your progress continuously (every 6 months or so) to assess your success’ and failures making it evident what you should be doing more and less of.
‘We are what we repeatedly do. Excellence, therefore, is not an act but a habit” – Aristotle
Success is something that you will work towards over a lifetime and helping you plan to reach those life achievements as soon as you can is what we make a habit out of.
