03 Feb The Link Between Refugees And Financial Status
Do you find it odd that in wealthy countries such as Australia there are people who are still poor?
Several experts have come up with different research results and reasons for such disparity between the poor and the rich.
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 so? It isn’t that those immigrants are 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 afford to fail, because to them, returning home is not an option.
That is a very strong why!
So, my question to you is, ‘what is your why?’
Why do you want to Master Your Money?
A Vision Statement
To give you a simple approach to coming up with your WHY, I want you to write out a personal vision statement.
Most of the time, vision statements are 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.
Think about this; there will be days in your life and career, that you may not have any motivation to get off the couch and work.
There will be times when you are not sure of the direction to take or the next great project to work on.
For those moments and every other days in your life, you need something to keep you fired up and keep the momentum going – your ‘WHY’
That is what you will write in your vision statement, and you will turn it to become the reason that get you out of the bed and go to work.
A vision statement is the reason you will invest in yourself in every possible way 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).
It is important to note that it is not ideal to copy another person’s vision statement and make it your own, if you do that, it will be so easy for you to dump the goal and not stay committed to it.
You need to take out time, reflect into your future right from the present, laying out the kind of life you desire for yourself.
A vision statement is not a dream, it is your future lifestyle.
In case you are looking for a vision statement template to get you to design your own, you can try this one below:
– 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).
When you read through this template, what did you observe?
The idea in this vision statement template follows an order that helps you to set a timeline for yourself to achieve a particular thing.
Not just that, it takes you further to write out how you can achieve that thing, and the feeling (of achievement or accomplishment) that you will get from making that future lifestyle happen.
Please, feel free to write more sentences, when writing your statement about how your future life will look and feel.
Also, you can look at different areas of your life, and come up with your complete vision statement. For example, how will you physically look, what would a normal day look like, what value systems, 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.
Do you have your vision statement?
If you do, lets turn your vision into reality.
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