At the beginning of a new year most people choose to reflect on the past and make resolutions for things they would like to accomplish going forward. However, despite their grand ideas and hopeful wishes, all too often, the days, weeks and months slip by without any progress being made towards actualising their goals.
Although they may have a good picture of the end result that they want to attain, many people fail to prosper because they really don’t know how to create and carry out an action plan that works.
Success is not achieved by a swift arrival at a desired destination; it’s the cumulative result of taking consistent, tiny steps that are headed in the right direction.
Last week we revealed our 2012 Money Manifesto, which incorporates 12 financial commitments that will help you to become successful with money. For the next few weeks, we will examine the pledges in greater detail, and indicate the little action items that you need to take to realise your objectives.
Let’s look at what I consider to be the most important things you can do to make 2012 your best year:
Make financial education a priority
I often encounter persons who are experiencing desperate money challenges or who are confused about how to get ahead financially. Most of them are looking for a quick answer to their money problems or a speedy way to create wealth. Here’s reality check #1 — There is no short cut to financial success.
If you want to be great in your profession, it takes years of study and practice to achieve the necessary expertise. World-class athletes train rigorously for many hours in order to become champions in their field of sport. Being successful with money is no different — you have to commit time and effort in order to learn what’s required to win.
The first item in our Money Manifesto states that: “I will invest in my own personal development by seeking to learn more about money. I will endeavour to read or listen to good financial advice every single day, as I recognise that most of the solutions to my money problems can be found in other people’s experiences in books and CDs.”
Learn about money from other people
Confucius said that there are three methods of gaining wisdom, “first, by reflection, which is noblest; second by imitation, which is easiest; and third, by experience, which is the most bitter.” Learning about money success can be a relatively easy process if you simply duplicate the smart attitudes and actions of financial achievers.
The answers to almost anything you wish to know about money can be found in someone else’s words or stories which are captured in the print or electronic media. Accessing information is now a breeze, thanks to the magic of the Internet; and most times you can get an education at minimal or no cost. There really is no excuse for you to complain that you can’t find the facts you need.
If you wish to start the process of turning around your finances, begin by taking up a book, magazine, CD, DVD or any other resource that presents information about money. You’re never too old to discover something new, and having a ‘know-it-all’ attitude or an overly nonchalant approach to learning about money will only ensure that you remain ignorant for a long time.
Apply the money lessons learned
It’s good to spend time learning about money; but it’s more important to actually put your lessons into action. It has been said that ‘knowledge is power,’ but I like to stress that ‘applied knowledge brings success.’ What you know about money only has the potential to help you; taking immediate and persistent steps will give you the momentum required for achievement.
The final pledge in our Money Manifesto asserts: “I will no longer allow the plague of procrastination to derail my financial future. I will act immediately in carrying out all the steps that I need to take to fix my money problems. I will act persistently and will not let discouragement, setbacks or negative circumstances stop me from progressing towards my goals.”
As you learn different strategies to help you with your finances, start at once to implement the recommendations. If you need to create a budget; begin by tracking your daily expenses. If you need to open a savings account for a specific goal, fill out the required documents. If you need to reduce your debt, assess your obligations and get advice from your lending institution.
Stop merely wishing and hoping for some miracle to transform your financial future; make a firm commitment today to change. There’s a Jamaican saying that advises: ‘Man who have raw meat must look for fire;’ so if you really want 2012 to be your best financial year yet, seek sound advice, and take action!
Copyright © 2012 Cherryl Hanson Simpson. No reproduction without written consent.
Originally published in The Daily Observer, January 5, 2012
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Cherryl is a money coach and business mentor, and founder of Financially S.M.A.R.T. Services. See more of her work at www.entrepreneursinjamaica.com and www.financiallysmartonline.com. Contact Cherryl