Everyone wants financial success. We see so many people living the American dream, and becoming wealthy overnight. We often wonder when good things are going to happen for us. Most of us work really hard, every day, and seem to never get ahead.
Luckily, there are things you can do to achieve financial success. Unfortunately, these things are not secret and do not happen overnight.
Overnight success is an illusion and happens to very few. The people that have the greatest financial success were often groomed for it, and worked hard to achieve their dreams.
By following these eight tips, and working on improving yourself, you can accomplish true success!
1: Keep Good Company
Even as adults, we are affected by the people around us. Our attitudes and views about the world can be influenced by the company we keep. If we are around people that are negative and are constantly complaining about money, this can influence our attitudes about money. People can also influence us to make poor financial decisions, by encouraging us to purchase or do things we can’t afford.
Many people don’t realize the impact people have on their attitudes and view on life. If you consistently surround yourself with negative people, chances are you, yourself will have a negative outlook.
Even ancient texts like the bible state “bad company corrupts good character”, this is true even today. Be careful who you let into your life.
I am not saying you have to completely “give up” all the negative people in your life. You may have close friends or family members that are very dear to you, even though they are negative. The important thing is to recognize their negativity and try not to let them bring you down.
It can be beneficial if you find new, positive people that have similar attitudes towards money. These people can help keep your spirits lifted as you work towards financial success.
2: Understand Strengths and Weaknesses
When I was in college I took a psychology personality course. For one of the assignments we had to get three people that were close to us to list our strengths and weaknesses. It was very difficult for me to have to sit and listen to my “weaknesses”. I actually got a little flustered when each of the three people (I interviewed separately) kept mentioning my tendency to overreact in emotional situations. I realized it was something that I needed to work on. Although it was difficult to hear, this information ended up helping me learn how to control my reactions when I am in tough situations.
What was the funniest thing was that although each person I interviewed told me I had a lot of strengths, I can’t remember anything they pointed out. I only remember the negative things they said.
The truth is that we all have strengths and weaknesses. Understanding our strengths and weaknesses can be the key to achieving financial success.
Choosing a Path Based on Strengths and Interests
If you know what you are good at, focus on getting money based on that. For instance I am really great at finding good deals. I have been able to make a fairly good side income buying items for a great price and reselling them. Although I am not currently doing this I learned a lot about myself by understanding my strengths and putting them to practice.
I also believe you should focus on finding a career that fits your interest. So many people choose careers based on monetary compensation, and end up being miserable. By understanding yourself, your personality, and your interests you can be happy and successful.
Work on Improving Weaknesses
Just because you are not good at something, does not mean you can’t be. I struggle with anything technical. I am not good at figuring things out myself when it comes to computer and technical devices. For so many years I used it as an excuse not to get things done. My husband would help me, but he would often tell me that he knows I have the capability to do it myself. Finally I was in a situation where he was out of town and I needed something fixed. I did research and fixed it myself.
For years I was hindering myself by focusing on my weakness instead of working towards turning it into a strength.
Listen, if you are simply not interested in something, don’t waste your time. However, if your perceived weakness is holding you back from achieving your goals work on making it a strength. If it is a technical skill you can practice and do research. If it is an emotional weakness such as anger or anxiety understand your triggers and work through emotional issues.
Working on improving weaknesses isn’t easy, but will help you achieve financial success.
3: Don’t Compare Yourself to Others
I am 100% guilty of this. It is easy to look at someone from a similar background, that is a similar age and see that they have more financial success that you do. They may have a great job, live in a huge house, and drive a nice car. They seem so fortunate, and you can’t help but be a little bit jealous.
The thing is, you have no idea what their struggles are. Maybe, they have so much debt they can’t sleep at night. Maybe, they are so lonely they cry themselves to sleep. Maybe, they work really long hours, and don’t even have time to sleep.
It is so easy to compare to others without understanding the whole picture. The truth is, you are on your own journey. Your path differs from others. Maybe it takes you a little longer to achieve your goals. It is ok. There are many really wealthy people that didn’t become successful until their 40’s and 50’s.
Comparing yourself to others can be toxic. It can hinder you from being diligent and creating your own path. If you want financial success you will embrace who you are and work on improving yourself.
4: Never Stop Learning
If you want true financial success you will continue to study, learn, and grow. Financial success is not a final destination, it is a journey. Even once you reach true success you need to be able to maintain it.
This is why so many people that win the lottery end up going broke in a few years. According to this article from CNBC it states that nearly 70% of lottery winners end up becoming broke within 5 years! These people win money, and simply do not have the skills or understanding to maintain it.
It is important that you learn about money, wealth, yourself, and how it relates to the world you live in. Continue to be inspired and learn about subjects you are interested in. Read books, follow blogs, research, and talk with people. There is a lot of information out there.
Find blogs, books, and articles that help you learn your way. If you fall asleep reading a two page article, try finding a different writer. Everyone thinks and learns differently. Don’t feel you have to change who you are to understand finances. Learn your own way using your own style! Just never stop growing and developing. This is a key to having financial success!
5. Be Patient and Content
Easier said than done. Financial success does not happen overnight. Like I mentioned earlier, it’s a journey and a process.
While you are going through the process be content. Find joy in your life at the moment. Don’t wish you were at a different place in your life, be happy where you are.
I know so many people that say “If I only had this, then I would be happy.” The truth is, money and wealth will not make you happy. If you have the ability to find happiness and joy every single day you will be more likely to achieve financial success. Money and wealth is only important because it helps ensure your needs are being met. It can also help you fulfill things you dreamed of doing, but it will not make you happy.
Be content with where you are in life. Be happy with where you are, but don’t get so comfortable your remain stagnant.
If you become comfortable you may not be motivated to learn, grow, and continue on the journey with diligence.
If you remain patient, joyful, and persistent, you are more likely to achieve financial success.
6. Go Against the Grain
When my husband and I first started working towards getting out of debt, we started doing things that weren’t “normal”. People used to make fun of us for buying 10 packs of toilet paper when there was a really good sale. People noticed when we stopped going out, and would even criticize us for only buying bulk or on sale items. We had to go against what other people thought in order to save money.
It can be difficult to go against what is socially expected in order to save money. I have heard stories of people losing friends over this. In reality, it does not matter what other people think, it is your future at stake.
On another note, there are multiple ways to get out of debt and have financial success. I read this book from a very well known personal finance guy. He “created” a step by step program that helps you get out of debt, and become financially free. He insists a person follows every step as he outlines. I have listened to his podcast, and he will criticize those that do not follow him exactly. Although I agree with a lot of things he has to say, I don’t agree with everything.
I have had discussions with others that follow this particular person, and they insist that he is 100% right in all situations. Since everyone thinks and works differently I do not think there is one answer for everyone.
Going with your “gut” even when others tell you is wrong is important for financial success. Trust yourself, you know best. Gain wisdom from others but don’t let anyone dictate how to live your life. If you go against the grain, and follow your own truth, you will have financial success.
7. Don’t Waste
People that are truly successful are not wasteful. They are able to get the most from resources and use them to their benefit. When I say “wasteful” I don’t just mean throwing away your food, there are many ways to be wasteful!
We all do it. I am particularly guilty of this (being sucked into the internet black hole). We spend time watching worthless tv shows, or looking at cute animal memes. Now, I believe there needs to be a balance, so it is ok to spend some time doing these things if you enjoy them. The problem is, we are all spending WAY too much time doing these things. This is something I really need to work on, so I am going to challenge myself to being more purposeful with my time.
People that use their time efficiently are able to achieve their goals more quickly than those who don’t.
I used to worry about everything. I would spend so much time worrying about things, I had a difficult time enjoying the moment. I really have improved on this (for the most part), and realize how much time and energy I wasted worrying about things that never happened.
We also waste energy on people. We are concerned what others think about us. We spend energy trying to get people to like us. We spend energy trying to fix friendships or relationships that really are not worth our time. If we focus our energy on ourselves and our own success, positive people will come into our lives that value us. Focusing on ourselves in a positive way does not mean that you should be selfish. I think it is also important to invest energy in helping the community and those less fortunate. Just don’t spend so much energy trying to impress people that don’t matter.
We also waste energy being angry, or upset, especially on things that are out of our control. This year has been ridiculous for this. There are so many people angry about politics. It is ok to have an opinion, but the amount of hate and anger spread on social media is appalling. Focus your energy on things that matter, don’t argue about things you can’t change. Don’t waste energy on arguing about someone’s opinion. It’s simply not worth the energy. Focus on things you can change, and put that energy into improving yourself.
Americans waste way too much food. According to this article published by CNN in 2012, 40% of all food is wasted. I believe a lot of this waste is from businesses, not individual consumers, but I am guilty of throwing away food. Not only do I waste food, but I use plastic storage bags and am not mindful about how much water I am using. I am not saying we have to all be perfect, but just acknowledging how much we waste and working on reducing waste can help us. This earth does not have infinite resources, we need to do our part to preserve them wherever we can.
Using what you have to the maximum also teaches you how to be resourceful. Being a resourceful person can lead to financial success. If you truly utilize and work with what you have, you can become a great success. What you have doesn’t just refer to physical resources, but also talents, skills, and personality traits. Understanding yourself and your resources is important to obtain financial success.
Balance is so important when trying to achieve success. If you don’t take care of yourself, and enjoy your life, you aren’t going to be motivated to do the work it takes.
Do something you love every single day.
Take at least 30 minutes from your busy day, and do something you love. It can be anything, you can: watch silly videos, talk to a friend, draw a picture, go to a park, read a book, learn a new recipe, do something that makes you happy. Make sure you balance this time with the rest of your schedule, because it is important you do something you enjoy every single day!
Do something to challenge yourself every single day.
This can be difficult to do, but it is important to continue to grow and learn everyday. Start questioning the core beliefs you have about yourself and challenge these beliefs if they get in the way of your goals. Tackle a problem you haven’t been able to solve. Work on getting stronger, physically, emotionally, and spiritually. Figure out what is hindering you from reaching financial goals and push yourself. You can do it.
Make sure you have a work/life balance.
I know that if you are working towards financial success it can be easy to bury yourself in work. You may need to work long hours in order to accomplish your goals, but you still need balance. Make sure you are taking care of yourself . Balancing work and life can be difficult but if you enjoy life you are less likely to burn out!
If you really want financial success you will learn how to balance all aspects of your life in order to be the happiest and most productive.
Your Attitude Affects Your Financial Success
As I mentioned earlier, there is not one secret, or eight secrets that will guarantee success. Nothing is guaranteed, if you have a positive attitude, things get better. Perception plays a key role in life satisfaction.
Don’t be jealous, or envious about what others have, what you have is just as special. Learn how to use your skills and strengths to better your life.
Ways you can improve your life in order to obtain financial success are:
- Keep good company
- Understand strengths and weaknesses (utilize and work on both of them)
- Don’t compare yourselves to others
- Never stop learning
- Be patient and content
- Go against the grain
- Don’t waste (time, energy, or resources)
These things seem simple, but can be very difficult to do!
What do you struggle with? What is getting in the way of your financial success?
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