Laying the Foundation: Winning Financially in 2022
As we await the beginning of a new year, it’s natural to reflect on our wins and losses and how we plan to have more success in the new year — especially when it comes to our money. The new year is an opportunity to be better. Resolutions can motivate you to think about new goals and ideas that will lead to direction and allow you to build wealth. Many of us don’t build as much wealth because we are not thinking about it. It is very easy to get caught up in the routine of daily life and then arrive at retirement without having any idea what we want that next chapter to look like or what it will take financially to achieve that lifestyle.
Every successful mentor I’ve had did not achieve their success based on the amount of money they had or even the amount of money they started with; their success came with building a foundation for wealth. There can be a lot of fear and doubt surrounding anything new, and building wealth is no different, but if you can understand the American economic system, you can win in the game of money.
As you begin to take on new goals, checking your habits is an excellent place to start. Our behavior makes 80% of the difference in our ability to build wealth and impacts our ability to be successful financially. What is your behavior? If you want to learn how to swim, you have to get in the water, right? So, first step into the idea that you deserve wealth. Everything starts with developing good habits or behaviors.
Habits shape our attitudes, actions, and decision-making abilities, and they affect every aspect of our lives. Adding these practices to your daily routine this year will help you become more disciplined, mindful, and motivated, all of which are the foundation of building wealth.
Get organized. In order to build wealth, you must have organization. Organization is not limited to just physical spaces such as your home, car, or office; it should also include organization over your life. If you don’t take time to map out the direction of your day, how will you know if you’re headed in the right direction? Part of the reason we fail to achieve our goals is that we haven’t planned how our daily actions will lead us there. Take time to review your tasks for the day, write a prioritized list of goals, and allot schedules for breaks. These organizational practices will help your day be more manageable, less stressful, and optimize productivity.
Be educated and motivated. Motivation doesn’t last forever, so you need to replenish yours regularly. In 2022 I encourage you to read a self-help or business book for 20 minutes each day. If there is a business venture you want to take, an investment you want to make, or an area of your life you want to improve on, find a book on that topic and read it for 20 minutes each day. Do this for 52 weeks and see how much wealth you acquire. Taking in this new information will not only educate you but motivate you as well. Reading daily boosts mental health, fosters creativity, and improves critical thinking skills. These are the qualities you need to build wealth, and as you expand your mind with all the information you take in, you will be ready to put that energy into making money moves.
Move without noise. Becoming more knowledgeable will force you to want more; you will begin thinking about things you’ve never thought about. In this part of your journey, you need to move without noise. People are afraid of what they don’t understand, and unfortunately, there will be loved ones in your life that become dream busters. They will come along and express doubts and fears and make you second guess your plans. Don’t allow those thoughts or doubts to interfere with your behaviors. Don’t communicate your moves to people you know are only going to challenge you on its success; that’s just going to knock you back. On your journey of building wealth in 2022, eliminate the bad noise and surround yourself with people who have your back, and encourage you to keep going.
Visualize your goals. Visualization is a powerful tool that many people aren’t aware of. Most of us practice visualizing every day, but the problem is that we aren’t using it to create the life we want. When we experience fear or doubt, we also picture the worst possible outcome in our minds. That is visualization. In 2022 I encourage you to visualize the life of your dreams. Be specific. Visualize achieving your goals: being debt-free, early retirement, owning multiple properties, etc. Whatever your financial goals are, visualizing it will help you achieve them. Seeing yourself in that light will further push you to get there and help you silence your doubts and fears.
Building wealth is less about money and has more to do with being disciplined, having good critical thinking skills, being creative and committed. Develop good habits and behaviors, and your money will start to develop around that. Unfortunately, we don’t think about developing these skills when we think of ways to build wealth, but wealth is created through consistency, dedication, and discipline. You can win financially in 2022! Introduce and commit to these practices this year, and you will forever change your ability to build wealth for yourself and your family.
