Seven Steps to Financial Prosperity
Some thoughts on Financial Prosperity
(because it’s not what you earn that matters, it’s how much you keep!)
Here are some thoughts about how to enhance your prosperity. This is in no way intended to be investment advice, and it is strongly recommended that you seek independent financial advice (see point 6 below). Some of the points below may be more relevant to you than others.
1 Have financial/business goals. Keep them in mind. Think about and FEEL how great it will be to achieve your goal(s).
Make them Specific, Stated Simply, Measurable, Meaningful to you, Achievable, stated ‘As If Now’, Right for you and those around you, Timed/dated and Toward what you want (no negatives nor comparisons). This latter point, TOWARDS what you want, is really important. This is discussed in point 7 below.
2 Clear any limiting beliefs you may have about achieving this (for example, regarding your worthiness, deservingness, ability to learn/adapt), or negative beliefs about money/wealth itself (such as money is bad, rich people are bad, etc). There are numerous ways to do this, and NLP can help you to do this.
3 List as many reasons as you can for making money – Have a Cause Bigger Than You!
How will you making the sort of money you want benefit you, others in your life and the world in general? Aim for as many reasons as you can – at least 10, maybe 100!. This builds up motivation and determination.
4 Become your own finance director.
Create your own:
- Balance Sheet (statement of assets and liabilities ) and keep track of it at least semi-annually and
- Income & Expenditure statement, keep track of it monthly until you have your spending under control
- and if helpful, a cashflow statement.
It is important to keep score in the game of money.
5 Analyse expenses and cut down where possible
- Important but not essential
- Luxury, wasteful or could do without
Keep track of it monthly until you have your spending under control.
6 Create a plan to save and grow financially. Use increasing income wisely.
Be disciplined and stick to it! Make sure you take only the appropriate level of risk, and if necessary consult an independent expert on a fee-paying basis, not someone on commission.
When your income increases, resist any possible temptation to keep up with the Jones’ or to let your expenses rise just because you’re earning more. Invest it in assets that produce income and growth.
Examples of assets include investment property, shares, even savings accounts. (NB. This is NOT investment advice, and does not replace any advice that you may receive from qualified Financial Advisers). Again, if appropriate consult an independent expert on a fee-paying basis.
Be aware that items such as cars, big houses to live in, tend to swallow cash and/or depreciate in value.
7 Research and use The Law of Attraction.
There is a growing body of evidence suggesting that we attract situations into our life based on the way we think. There are numerous books and audio/visual material regarding The Law of Attraction (see the ‘Resource List’). In summary,
- focussing on what we want, and
- believing we will achieve it, and
- feeling great at the thought of achieving it
are essential aspects of attracting the things we want into our life.
Regarding ‘focussing on what we want’, the Law of Attraction essentially says that what we focus on increases. So, for example, if we focus on something like, “I don’t want to be poor”, we are focussing on “poor”, whereas if we put our attention on the things we actually want, such as the car, house and holidays, we’re more likely to attract that into our life.
Enjoy the journey and the results!