FinLEAP (financial leap) your finances – Your Vision
Happy new year! In the beginning of the year, you need a new year resolution, right? Time to have a clearer vision now.
Over the past 1 month, I have produced total 5 articles on how to achieve financial security, getting various investments to get more passive income streams so that you can achieve financial freedom. Those are the steps and some tools and techniques that you can use to make a leap in your finances. If you have missed the articles, you can check the last article here.
In this article I will explain vision / new year resolution to ensure you have the capability to execute what were discussed previously. Our character is basically our habits. Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; saw a character, reap a destiny.
Look at this chart above originated from a famous author, James Clear. According to him, in order to achieve better outcome, we can change the process (the middle ring) or the identity (the inner ring). The process is our habit. When we have different habits, we have different results. The identity is who do we think we are. The identity can change the process (our habit) and the outcome. If we think that we are a saver, we will be sure to have the saving habit, hence we will always have positive monthly cash flow. If we think that we cannot save, our identity will be a spender, saving becomes a habit that is hard to be developed. Hence, the results reflect no money left every month.
To conclude, to get better outcomes or results, developing the right identity is a much more effective way to change our destiny. This is why, there is a need of clear vision in the first place. New year dream board is a good way you can start off managing your finances. You want to have better outcomes for your finances, here are the steps.
Step 1: We need to have a vision to determine who do we want to be. Do we want to be a successful person with lots of wealth, health and joy? Close your eyes now and visualise your future – who are surrounding you in your vision? What do you have in your vision? What do you do? What is your feeling if you achieve your dream? Try to tie your vision with some feelings so that you feel stronger with your vision. If you have better understanding of your vision, it will be your fuel to help you gear towards your vision. Remember, you cannot achieve what you cannot imagine.
Step 2: Think about the character required to be the person you want to be. Do you need to be persistent? How about kindness, hardworking, generous? Start practicing the characters you need to be the person whom you want to be. Many people expect miracle. Success doesn’t come free; it requires time to develop the character and capabilities. So, this step is extremely crucial. Imagination needs to be supported with characters and capabilities to transform it to reality.
Step 3: Set several milestones to you vision. If you set a big vision, it could take years to achieve it. If you do not set smaller milestone, you will be discouraged after a while when you notice you are not moving ahead. Setting milestones will ensure you are on track to where you want to go. Milestones are checkpoints reviewing your pathways towards your big vision.
Step 4: Set review period. Milestones that are not being reviewed periodically will not be useful. You need to set when you need to review the progress and identify what you have done right and wrong during the progress. This will ensure you are progressing well. If you don’t schedule it, you won’t do it.
Step 5: Celebrate your small success and improve based on feedback. If you notice that you have progressed well, celebrate the small success. If you do not, find out the reason why and change the strategy again. You will progress faster if you improve from lesson learned along the way.
Do the 5 steps above consistently and I can ensure you to see better progress towards better financial future.
After reading this, I hope you can put your vision on a board. Stick this board to the place you will pass by every day. Remind yourself of your vision. That’s how I start with my new year!
Watch the Youtube video here on this topic.
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