In order to achieve financial success, you only need a few basic steps to achieve your goals. But to my surprise, how many people do not use these basic steps to create financial success in their lives.
In fact, most people tend to ignore one or more of these basic steps. This will eventually short the process of financial success.
You may be one of those people. But, hey, you’re not born with natural knowledge, you need to be financially successful. None of us are. But the fact that you are reading this article shows that you are willing to learn and find a solution to make you financially successful in your own life.
So I praise you a lot!
In this article, I would like to introduce you to some of the basic steps I have been teaching and using for many years to help me and others achieve economic success.
I will even show you some excellent resources to help you achieve the four basic steps of financial success.
What is your definition of financial success?
First of all, remind me that these are not tips for getting rich quickly.
It takes time to build wealth and create financial success in your life. It’s a lifelong marathon, and you have to keep trying, even if you hit a wall, which happens at some point in all of us.
In addition, you must know your definition of financial success. Will your diamonds inlaid with more diamonds become so rich? Can you have enough money to live a comfortable life in your later years? Or maybe it’s independent and rich, so you can use your life to serve others in some way.
How you define financial success depends on you, but you must at least understand the final game and what financial success means to you in order to achieve this goal one day.
Four basic steps to achieve financial success
So now that you’ve learned what financial success means to you, let’s take a look at the four basic steps it will take you there. Of course, these are the four general steps you should follow, and more substeps will be involved in the process.
Step#1 becomes the target maker.
This is consistent with knowing your definition of financial success. Once you know where you want to end, you can start sorting out a list of how to get you to your destination.
One of the best ways to set goals is to write down your long-term goals first. According to long-term goals, I’m talking about five years or more, or even 30-40 years.
Once you know what these long-term goals are, you can go backwards to define several intermediate goals and ultimately help you achieve them. These intermediate goals are then broken down into several short-term goals so that you can achieve them.
This step-by-step process is one of the best things you can do to achieve the financial success you are looking for.
Keep in mind that financial success is a marathon that can only take one step at a time.
Step#2 costs less than you.
Spending less than you spend is a very obvious part of achieving financial success, but it is absolutely surprising that more people do not admit this fact, let alone put it into practice.
I was shocked when I read that a recent study showed that 1/3 of adults had at least one debt currently in collection.
Most of these people are part of the statistics because they don’t follow this simple principle.
You may even be one of them.
As long as you recognize the problem and start doing something about it, it’s okay. We all have to start somewhere.
The two best things you can do is stop spending more than you spend:
Track your money-implement a zero-based budget so that you have a plan for every dollar. Only cash is used to fund your life, so it is impossible to spend more than your life.
Get out of debt and stay out-I keep spreading this, which is the main message of the entire website. Debt means you are wasting money to pay for the interest and expenses it brings. This is also a good indicator that you spend more money than you earn.
In Thomas Stanley’s book Millionaire next door, Stanley’s research shows that most millionaires believe in avoiding debt and see it as one of the main reasons for their economic success.
Step 3-be a giver
This sounds a little counterintuitive. However, most financially lucky people will tell you that donation is one of the best things you can do to ensure financial success.
Giving yourself, finance, resources and time can make the reciprocity law work fully. When you give, you get more in return. This is the basic truth established by God from the beginning. You can find it throughout the Bible, as well as most of the books you have read about wealth and success.
I can tell you from the results I see in my own life, give works!
“give him no grudging heart; therefore the Lord your God will bless you in all your work and in all the things you have reached out of your hand.”-Deuteronomy 15:10
The fourth step of investment
Economic success always involves some form of investment. In fact, a variety of investments are usually required to achieve financial success. I’m not just talking about investing money in stocks, bonds, real estate and businesses. It’s very important for financial success. I’m also talking about other necessary investments, such as:
Knowledge and skills to improve your knowledge and skills will always serve you, and usually allow you to make more money in your career.
Healthy living habits allow you to have more energy, think better, and improve your work efficiency. The healthier you are, the more able you will be to attack and achieve your goals.
Relationships-build good relationships with family, friends and business partners and always pay off in the long run. When you invest in building a relationship, your family will love you, your friends will care about you, and business people will bend back to do business with you. This is all about connections.
Financial success requires work
So that’s it, it only takes four basic steps to achieve financial success! Of course, I don’t want it to sound too easy. It takes a lot of time, patience and work to achieve economic success.
However, when you fully understand the basics, you can work hard to gain a deeper understanding and implement the financial success definition that best suits you.
Remember, LeBron, Michael and Karim must learn to dribble before they become incredible basketball players. It took them a lot of work to be the best.
It suits you, too, so get to work.