Six Keys To Financial Success

By | November 11, 08

Six Keys To Financial Success

No doubt, one area in our lives in which we greatly long to be successful is our finances.

Everyone desires to be able to provide at least the basic things of life for themselves, their families and for those who need help around them.

To achieve success in our finances doesn’t come by chance; there are certainly key action steps you must take to get there. Here, I want to share with you six keys to achieving financial success in life.

Having a Specific Goal

From the very beginning, you need to determine what exactly you want. How much income do you want to earn in a week or month? This Key is the very foundation to financial success. By having a clear goal of the kind of income you want to make, your mind can begin to get creative on how to achieve it.

Everything you have today was first established in your mind. Think back, before you got that business running, clothes, car, house, etc, they were first registered on your mind, even to a great detail, such as there colors, sizes, etc, jut as you desired them. Then, you started working towards realizing them, and today you have succeeded in owning them.

Setting a Specific Time to Achieving Your Goal

Having determined what goal to pursue in your finances, the next key to achieving financial success is to give yourself a deadline to achieve the goal. When would you want to be financially independent? Five years, ten years, or twenty years from now?

This is important in a number of ways. One, it keeps you focused on achieving the goal; two, it allows you to draw up daily or weekly work schedule necessary to achieving the goal; and three, it motivates you to making the necessary sacrifices to achieving success financially – for instances, you might decide to work ten years, save 50% of your income every month, to be able to start a business later – that’s sacrifice, but it’s key to your financial success.

Writing Down Your Goal

Putting your goal on paper in written form is also Key to achieving financial success because it commits you to achieving the goal. Write your goal on a piece of cardboard, keep it handy and read it everyday. With this kind of commitment, you will be motivated to continue to do all that are legally possible to achieve success in your finances, even when things become really tough.

Developing a Plan to Achieving Your Goal

The fourth Key to financial success is to lay out a working plan to achieve the goal. Success doesn’t come by accident; it is achieved through working out a plan. What is your plan to achieving your financial independence? Do you need to attend training on something for 2 years, get a job after, save 50% of your income monthly for 10 years, attend courses in business management every three month, and then set up your business?

So many people never attain financial freedom because they fall out on this Key to success. They either don’t have a plan or they don’t follow through the plan. Just as it is important to write up a plan to be successful financially, it is also Key to implement the plan. No success can be achieved without carrying out your plan, even if the plan is glorious on paper.

Deciding the Price You Are Willing to Pay to Achieving Your Goal

Nothing good ever comes easy. The same goes for financial success. This Key to success helps you to prepare your mind to the fact that you will need to give up something to be able to achieve your financial goal. If you are going to be saving 50% of your monthly income for ten years, it means you will be leaving out a number of things from your budget – you will be denying yourself some pleasures of life just to be able to attain success in your finances.

So, right from the beginning, you have to decide those things you will forgo to be able to reach your financial goal.

Focusing on Reaching Your Goal

The sixth Key to attain financial success is to be focused on getting to your financial goal. You will have to channel your time and resources squarely in accomplishing the plan you have laid out. Don’t allow the challenges that will confront you daily to distract you from your goal.

A lot of people have failed to achieve financial success because they did not adhere to this Key. They find it difficult to stick to their plans; they keep moving from one plan to another without having fully satisfied the first. Going round and round in a cycle does not get anything done. If you will achieve success in your financial life, then it is Key to be focused on achieving your goal.

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