I know, I know. I always get in trouble when I say “it’s all about the money”. Usually after I proclaim it I get these zingers coming back at me:
“Jeff, you just don’t understand….” “Yeah, but what about chasing my passion?”
“We want to enjoy life now….” and my favorite, “Jeff, you are so materialistic”.
I could go on and on.
I do understand the emotions and thinking behind these comments, but I have to tell you, when I’m talking to couples and individuals and ask them how they are going to….
- meet their monthly financial needs?
- fulfill annual giving commitments?
- navigate health care’s rising costs?
- fund their kid’s college education or wedding celebrations?
- hit their retirement goals?
- make a car or house payment?
- or make it through an emergency situation that destroys their home?
Then it really is all about the money.
In the last couple of weeks I’ve had the privilege of counseling some families as they wrestle with these real life situations. I’ve found that in the middle of asking these types of questions is when people are most receptive to changing their behaviors and mindsets to a better way. The better way I offer these families is a financial approach that is built on my Wealth Builder 10, ten simple steps to building wealth the right way.
Here’s the interesting thing I’ve observed; once folks can see the big picture, what I call from a 30,000 foot view, implementing daily financial discipline starts to become a daily lifestyle.
See if you can get the 30,000 foot view, too:
Change your mind set
Step 1- Start. Now. Not later, not tomorrow, not Monday, but right now. You can decide right now to take control of your financial life.
Step 2- Reject Jones-itis. Once you start, the first thing you have to do is reject the financially broke world around you. No longer will you try to keep up with the broke status quo.
Step 3- Act Like a Wealth Builder– Now that you have started and rejected the Jones’ debt-filled lifestyle, start acting like a real wealth builder. Realize that by making different decisions you have the power to build wealth the right way.
Embrace a different approach
Step 4- Run Your Life Like a Business– Your life is the most important business you’ll ever own. Take charge and start running your life like a business; a successful, profit-making business.
Connect the dots; Know where you are going
Step 5- Develop Your FLG (Financial Life Goal)-Until you can connect your current saving and spending behaviors and how they impact your long term financial goals, financial results will be minimized. Proclaiming your long term goal is key to successfully connecting the dots to daily financial decisions.
How do you get there?
Step 6–You Gotta Know Your Starting Point-First thing you have to do is identify, define and understand your financial situation (your financial worth).
Step 7– Be the Boss of Your Business Profits-Secondly, manage the results of your financial life with the use of simple profit report that includes a budget. (Remember that you’re running your life like a business).
Step 8– Track Your FLG Progress– And lastly, you have to track your progress towards your goals, and be able to modify and adapt your actions to keep you headed to your Financial Life Goal (FLG).
Keep these in the mix all the time!
Step 9- Six Biggies to Keep in the Mix-These six important concepts will empower your financial journey:
- Achieve debt-free status
- Build an emergency fund
- Develop you financial team
- Protect your wealth
- Teach your kids about money
- Stay informed
This is a marathon.
Step 10- Discover YOUR Pace-Realize this is not a sprint, but a marathon lifestyle. Discovering your personal pace will ensure you a successful finish.
We can debate that it’s not all about the money, but when we get the money part right, an uncommon life unfolds before us. Is 2017 the year you or someone you know finally gets the money part right?
In a little over 100 pages that make up my book, Common Sense to Uncommon Wealth, you’ll discover how to use the 30,000 foot advantage viewpoint and put it to work in your life. For the month of December I’ll be offering my Christmas book special of buy one, get one free. It’s a great way to get yourself or someone you care about looking at the big picture and how to achieve a truly uncommon life. And the view is spectacular!