I know the title of this post seems really harsh, and for some people, maybe it needs to be. The point is if you keep making poor excuses why you aren’t reaching your money goals, you will never reach them.
Excuses are goal killers; a book on an entirely different topic helped drive that home for me. A book called “…Then Just Stay Fat” has helped me get rid of poor excuses and prioritize my exercise and eating this year.
Shannon Sorrels, the author, discusses the “whys” people tell her when their scales refuse to budge:
- Too busy
- Traveling
- Had to eat out for work
- Stress
- Health issues
- Genetics
- Child responsibilities
And the list goes on. I personally have used several of these. But Sorrels’s book points out that there are no magic beans, that weight loss is solely a function of calories in, calories out.
The same is true about wealth building – I know that everyone wants to believe that there is a magic investment, but the majority of wealthy people simply work the practice of spending fewer dollars than they bring in. Wealth is solely a function of money in, money out. Poor is a function of more money going out than coming in.
Priorities are more powerful than excuses
This year, I decided that no matter what the ultimate results, I wanted better health. That might not mean losing weight; it might just mean working toward “ready for anything” fitness…something I haven’t felt since well before breaking my ankle.
But guess what? Because I prioritized eating healthy and working out, I have lost weight. And I am a lot more physically fit than I was 12 months ago (thank you, Fitbit).
I was really pained about not being healthy—and I imagine a lot of people are equally pained about where they are at financially.
If you’re feeling like building wealth, getting out of debt, getting financially on track is out of reach for you, then I would ask if you are really making it a priority. Are you doing absolutely everything you can to reach your goals — or are you giving up before you even get started?
What is your priority?
The truth is, even when we say we want something, sometimes we don’t take the actions to make it a priority. Ask yourself, where does wealth building fall on the priority list?
- Are you actively engaged in spending less than you’re bringing in?
- And if not, what is your excuse?
- If you made wealth building your No. 1 priority for the next 90 days (let alone the next year), what do you fear will be neglected?
- Are you willing to suspend disbelief and move forward in uncertainty?
There is one point about money that is more important than any other, and that’s to understand what is required to generate wealth. Financial planning only matters if you have the potential to produce money in the first place.
So here it is: the one thing you need to understand to generate wealth for yourself is…
You give wealth to yourself.
In other words, no one else is responsible for giving you wealth. Not your parents, your boss, your spouse or your business partner.
That’s it. You won’t achieve wealth until you understand that.
YOU decide your level of deservingness. And deserving has nothing to do with what you do.
You decide what you’re worth, and although you might not get 100% of what you decide immediately, you’ll get a lot more than if you have no opinion on the subject.
Wealth is waiting for you to DO something. Good thoughts are important. A vision is essential. But if you don’t match those things with consistent action, you won’t get wealthy.
You must make your own wealth a priority.
Once you know your priorities, set your intentions
Wealth is not a one-time event. Actual wealth is about re-evaluating your life and behaviors so you can continue to make it easier on yourself to generate wealth.
Once you commit to wanting something and making it a priority, you more consciously notice the disparity between what you want and what you have. You may discover that you’ve bee settling for less than you deserve—which is why so many people keep their heads down and mouths shut and just keep doing what they are doing.
Sometimes it feels like it’s easier to accept your circumstances. Change is uncomfortable—you might have to change jobs, careers, relationships or environment. But once you set the intention to have something specific—like more money—the path gets clearer.
Think about your money past and ask yourself where you have been waiting for permission to earn what you deserve. Emotions are a good indicator of issues with specific people.
Next, take stock of your life (not just from a money standpoint), and decide where you have been settling for less than you deserve and identify one step you can take to upgrade in that area.
Finally, declare your goals. Write down everything you would like to fund in the next year and next to each item, write approximate dollar amounts. I find that the clearer people get on what their lives cost, the faster they start making more money.
And if you’d like more information about how to shift your money mindset, then I invite you to check out my brand new book, Personal Finance that Doesn’t Suck. It’s No. 1 in the Amazon personal finance category, and I’ve already heard from dozens of people that it’s been helpful to them. Click here to check it out.
No spam. No games. Just timely, insanely useful content to help you grow your money.