October 8th, 2008 — Time management
Time management is not so much discipline as it is recognizing what you should or should not let interfere with accomplishing your desired goals. There are many things that can get in the way of having a good plan for managing your time, just as there are excellent ideas to help with management. Presented below are six time management don’ts along with their corresponding do in order to be better at managing time.
- Don’t rely on stacks of paper to remind you what to do.
- Do put every task you need to do all on a single list.
October 8th, 2008 — MONEY MANAGEMENT
Reduces Uncertainty
The problem is this; everything changes. You can see the path you plan to travel, but what happens when the path changes? Let’s say a tree falls in that path, blocking the way?
Do you turn around?
Go around?
Buy a chainsaw?
Change directions?
Start looking for a new business?
No, your vision statement provides you with the end goal, from which you can derive the next step.
This is the real reason of a vision statement. Provide guidance, direction and focus when things may be unclear. It reminds you of the goal that is to be achieved.
October 8th, 2008 — Focus
I have found that most people have a very distorted idea of what a vision really is. They see it as a daydream or fantasy. They would rather tune into the Fine Living or Entertainment channel to see how the rich and famous live than pour energy into their own lives. For many, a vision is an escape from reality. However, the truth is that a real vision is a powerful tool that can help you create the reality you desire. If you can truly envision it, then you can realize it.
October 6th, 2008 — Breaking bad habits
“Good habits are hard to develop but easy to live with” and “Bad habits are easy to develop but hard to live with”, according to Brian Tracey, a well-known motivational teacher. You may recognize that to successfully manage habit changes, breaking bad habits may be required in order to develop new ones.
Breaking bad habits takes at least 21 days. Of course, in difficult cases, it can take as long as a year. Here’s an example of the process of how to change an unhealthy habit to a healthy habit. Suppose you’ve decided that coffee is not good for you and right now, you drink coffee with sugar daily. The new habit you would like to institute is to drink herbal tea without sugar.
April 25th, 2008 — MONEY MANAGEMENT
Avoid Money Management Mistakes
- NO SPENDING PLAN. The “where does the money go?” question frequently comes up because of spending on a day-to-day basis, without any sort of plan for taking care of needs and wants. Here’s where a money management program can help you spend your money wisely, to reach your goals.First, set up priorities: know your regular expenses; determine what your goals are in relation to short-and long-range aims. Take critical look at your expenses and weed out those that don’t give real satisfaction.
April 11th, 2008 — personal finance
At some point in most people’s lives comes a realization that the dreams of youth and more sober aspirations of early adulthood may never come to pass. A childhood fantasy to become a famous movie star, a teenage obsession to excel on the athletic field, or a young worker’s aspiration to be a millionaire, are among the hopes that remain a distant vision. But as years pass and illusions fade, each of us must come to terms with the success we achieve—or fail to achieve. Success may be defined in different ways, such as gaining the respect of friends and relatives, attaining proficiency in the arts and sciences, or living a satisfying domestic life. However, in our culture the very word success denotes financial achievement. It is in this context that we shall evaluate whether you’re headed in the right direction. 1. You regularly take in more than you spend.
As a first step toward success, you must embrace a fundamental concept: Income exceeds outgo. This is the most important principal to which you must adhere. It goes without saying that there are times, such as medical emergencies or personal mishap, when unanticipated expenditure is incurred. In these instances you’ll vary from our rule of frugality. But, at other times, you will consistently live below your means. Persons who fail to comply may expect a series of misfortunes with no relief.
2. You honor your financial commitments.
Persons who promptly fulfill their financial obligations will find all involvement more profitable. Conduct your affairs in this manner and success will court you.
3. You owe no debt.
One important factor separating winners from losers is debt. Although mortgage financing to acquire real estate, as well as wisely arranged business loans, can prove beneficial, personal borrowing is normally a mistake. This means that the clothes on your back, the furniture in your home, and the vehicle you drive, are owned without obligation. I’ll concede that you may appear prosperous behind the wheel of a newly financed Mercedes Benz, but your actual prosperity is vastly enhanced if your auto is fully paid for, even if you must drive a 1984 Toyota Corolla. And concerning debt, credit card use is particularly insidious. It’s my belief that a credit card serves a single purpose: a convenience when neither check nor cash is handy. Most importantly, when the monthly statement arrives, pay the full cash balance due before the date that interest is charged. Follow this rule and success will follow. If you cannot regulate your credit card use in this manner, destroy your cards and fashion your life accordingly.
4. You control the present.
As we journey through life, there are three principal objects upon which we may fixate: the past, the present, and the future. All three serve a function. It’s important to reflect upon the past, for by evaluating earlier performances we fashion a guide for handling new demands. It’s equally vital to keep an eye on the future, as how a course is steered determines its outcome. But it’s neither the past nor the future over which we exercise control. It is only the present that affords an opportunity to grapple with events and arrange favorable results. If you regularly conduct your affairs so to resolve situations in ways that satisfy you, you are exhibiting qualities that lead to success.
5. You are a skeptic.
In navigating the perilous waters that lead to prosperity, you’ll encounter shoals. Avoid them by demonstrating skepticism, defined as the recognition that ninety-five percent of everything is nonsense. Your thoughts then run in the following manner. You find it baffling why anyone buys a lottery ticket. You understand that the variable annuity your neighbor just invested in is a sad mistake. You entertain no illusions that a financial advisor will provide sound counsel merely because of the Certified Financial Planner (CFP) designation held. You’re not tempted to invest in something because of a hot tip from a friend or relative. It’s beyond your comprehension why anyone not certifiably insane purchases a timeshare property. Such is the mindset of one who is successful.
6. You are able to retire at 50.
Admittedly, this is arbitrary, but there is something significant about reaching this particular age. Perhaps it’s the undeniable realization that there are fewer years ahead than behind. If the first half of your life is spent working for your assets, is it unreasonable that during the second half your assets work for you? This doesn’t mean you must actually retire at this age, and indeed most successful people pursue gainful—and usually enjoyable—endeavors as long as they are able. Nonetheless, the option should be yours.
7. You have a reputation for honesty.
It’s my firm conviction that a reputation for impeccable honesty is among the most valuable assets you can possess. There are no limits to the doors that open and the opportunities afforded a man or woman whose words and actions can be trusted. Whether you are of truly high moral character, or possess the personal values of an eighteenth century London pickpocket, is not the issue. From a purely pragmatic frame of reference, conduct your affairs in a way that your reliability can never be questioned, even if it goes against the grain. This quality is truly a mark of success.
I’d like to share a final thought on the matter of success. Wealth, at least a certain amount of it, is a necessary criterion for success. However, the possession of wealth is not in itself sufficient, and I know persons with net worths of seven and eight figures that are abject failures in every respect. It’s the combination of assets, lifestyle, and attitude that engenders success . . . but this is a subject for another time.
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April 11th, 2008 — personal finance
Becoming financially secure is a goal of many of us, yet most of us still live from pay to pay and just scrape by. The basic rules of becoming financially free are really quite simple and can be learnt by anyone, but it’s the implementation of these rules week after week, year after year that is the challenging part. Below is a list of simple truths to set you up for financial freedom.
March 24th, 2008 — personal finance
Personal finance is easy. It’s simple. There is one fundamental law that governs your money. If you master this, you have mastered the entire game: To gain wealth, you must spend less than you earn.
[WEALTH] = [WHAT YOU EARN] - [WHAT YOU SPEND]
If you spend more than you earn, you are losing wealth. You are accumulating debt. You are heading in the wrong direction. However, if you are earning more than you spend, you are accumulating wealth. The greater the gap you can create between earning and spending, the faster you will accumulate wealth. There are only two things you can do to gain more wealth: spend less and earn more.
February 15th, 2008 — Goal Setting
72. How can you tell when you’re truly committed to a goal? Have you ever noticed when you really really want something that you automatically think about it all the time? When you think about it you get so motivated and enthusiastic that it’s easy to take action!
73. What speeds up goal achievement? Some of the things that will get you to your goal faster are: Commitment, enthusiasm/passion, thinking about the goal a lot, using imagery or visualization, regularly working with and getting help from your Goals Success support group, opening your mind to possibilities, moving out of your comfort zone, letting go of old ways of doing things and taking lots of actions. Correct as you go. If one thing doesn’t work, try something else.
February 15th, 2008 — Goal Setting
As you can imagine, persistence is very important in reaching your goals. It relates to patience, which is also very important. Sometimes reaching goals takes much longer than you expect or things can really fall apart. This is when a dose of persistence and patience can really make the difference. You may need a vacation, a mini-break or to just keep on plugging away taking action every day. Remember that you may need to re-evaluate your direction and try different ways to get there when required.