28 Nov Start With Why
I firmly believe that regardless if you want to master your body, health, relationships, finances or any area of your life, you need to start with why.
Why do you want to Master Your Money? Why now?
Let me share with you two stories about the Power of Why.
A Starving Old Man And His Wife
An old man is sitting in his couch watching football on a Friday night.
He is very comfortable in his favourite couch, a beer in hand and his only stress is whether his team will come back after falling behind at half time.
His wife in the other room yells out “Honey, do you want dinner”
The old man goes “Yes, I am starving!”
Twenty minutes later the wife cooks him up a simple meal of meat and three vegetables and brings it to her husband.
“This looks great” the grateful husband says to his wife.
And then he continues to watch the football.
Did you miss the point?
Let me ask you this, was the old man really starving? I don’t believe he was.
If the old man was truly starving, he would have got off the couch and cooked his own meal.
But he was only starving when someone else was literally going to bring him food on a plate.
You see, I don’t think there is a person in Australia who wouldn’t like more money. Everyone wants more financial freedom.
But the difference is that no one is going to bring financial freedom to you on a plate!
You have to get up off the couch and get it.
You have to be truly committed, prepared to do the work and invest in yourself and your team to become a Money Master.
At this point, most people will just sit on the couch. They will complain and moan to anyone who listens, but they won’t do anything practical about it.
But others, they will get off the couch. Those who have the motivation, a why, a dream of a better lifestyle, are prepared to do whatever it takes to become a Master of Money.
It all comes down to your why.
The Link Between Immigrants and Financial Status
Do you find it odd that in wealthy countries such as Australia there are people who are still poor?
Some people would argue that this is due to a lack of skill, education or opportunity and in some circumstances I agree with this view.
But I think for the majority of people, it is simply due to the fact they don’t have a strong enough why. There is not a strong enough “why” and if they are not successful, someone will bring money to them (in the form of Centrelink).
Mark J Quann is an American author who looked at this in more detail and discovered something remarkable. He discovered that immigrants to America are four times more likely to become millionaires than those born in America.
Why is this? They are not better educated, they don’t have better networks and they certainly don’t have better luck.
They simply have a stronger will to succeed. If they don’t succeed, they have nothing to fall back on. They cannot fail, returning home is not an option for them.
That is a very strong why!
So what is your why?
Why do you want to Master Your Money? Why now?
A Vision Statement
I want you to write out a personal vision statement.
A vision statement is mostly used by companies and non-profits and is defined by Wikipedia as “a declaration of an organization’s objectives, intended to guide its internal decision-making”.
For you, a vision statement is the reason you get out of bed and go to work.
A vision statement is the reason you will invest in yourself to become a better person for yourself and your family.
It is the reason you do the things others don’t do (the ones still sitting on the couch waiting for things to fall into their lap).
A vision statement is not a dream, it is your future lifestyle.
If you are looking for a vision statement template, try this.
- By the time I am __________ (a timeframe, anywhere from 12 months to ten years)
- I want to have $__________ (per annum or a lump sum)
- By doing _______________ (the profitable tasks that you love doing and you feel called to do)
- So I can feel _________ (how will you feel when you take control of your finances)
- This will allow me to _______________ (list three things you will do when you are successful in Mastering your Money i.e. travel more, spend more time with my kids and donate to cancer research)
- Write a couple more sentences about how your future life will look and feel. For example, how will you physically look, what would a normal day look like, what morals and ethics will you uphold.
Once you have this, stick it up on your wall where you can see it every single day.
When you see it, take a moment to pause and think about your vision.
Think of creative ways you can achieve your vision.
Imagine if you were living that lifestyle right now. What will that look like?
This is your why. This is what will drive you to succeed.
Your why will be the strongest determining factor whether you will Master Your Money or not.
If this is a topic that you would like to discuss in more detail, please go to www.MasterYourMoneyNow.com.au/getstarted to book in your complimentary 30 minute strategy session.
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Disclaimer: This information is general information only. You should consider the appropriateness of this information with regards to your objectives, financial situation and needs. Past performance does not guarantee future returns.
Chris Carlin is an Authorised Representative (No. 1235031 for financial services and No. 514748 for credit) and Master Your Money Now Pty Ltd ABN 65 627 229 681 is a Corporate Authorised Representative (No. 1265677 for financial services and No. 514747 for credit) of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523