What does finding your financial potential look like? The definition of potential is defined as “latent qualities or abilities that may be developed and lead to future success or usefulness.”
Think about other areas in your life you have worked on and committed to developing your abilities and skills so you could be your best. Perhaps it was learning a new profession or a new hobby. At the start, you probably had to give some intentional focus to acquiring and applying new knowledge and skills so that you could improve and become really good. It’s the same process to live your financial potential–developing new abilities and money skills that will prove to be useful and that will take you down a path to a more peaceful and prosperous life. What financial abilities and qualities do you need to develop and nurture?
Point of Reflection
Take out a piece of paper and write down three changes you want to make in the next month that would make a direct impact on your finances. It can be a savings or a budgeting goal, or a behavioral/mindset goal. Start with, “I will ____________ (fill in the blank). An example might be, “I will create my monthly spending plan,” or “I will save $________ this month,” or “I will stop ________ (name the behavior you want to change). Next to each specific change, write down what new knowledge and skills are needed to achieve this desired change. Maybe it’s understanding the best way to create a spending plan or knowing how to ditch unproductive money habits to create new and healthy ones. Learn more about breaking bad money habits.
I can’t guarantee that it will be easy to reach your financial potential, but I can guarantee it will be worth it. Here are a few important points to remember along the way:
When You Stumble, Stick to It
Now that you know what’s required to change the trajectory of your financial life, go ahead and take some steps forward. Know that it’s normal after we set out to conquer something new and make a change for the better, that we also will likely encounter moments where we stumble. Those moments can be frustrating. Financial progress takes time, patience and persistence. I think moments of struggle show up so that we may take a pause… to learn more, and to look at what’s working and what isn’t. And then we must adjust the sails and continue moving forward.
Some Important Questions
The stumble is also an opportunity to ask ourselves some important questions:
- Was I trying to make too many changes all at once? Attempting too much at once of what needs changing is a sure fire way to feel overwhelmed. And when we feel engulfed in overwhelm, we usually throw our hands up and quit. Instead of focusing on everything on your list, just start with one thing you want to change. Choose the change that you know would make the biggest difference and impact on your financial life right now, or choose what would provide you more peace of mind and less stress. Next week, start working on the next change on your list you want to make, and so on and so forth. Taking small steps will feel easier and decrease the chances you’ll get overwhelmed and frustrated, and it’s also the key to building any kind of momentum for lasting change.
- Was I missing a key piece of knowledge before taking action? It’s good to know that you want to make big changes in your financial life, but that’s not enough to actually get you there. Acquiring the right tools and knowledge are the ingredients you must combine to get to the financial life you want. It’s the first step. If your desire is to be a better money planner and budgeter, do you know what your first step should be? Know where to go for new knowledge in order to put together a solid roadmap for financial success. Don’t be afraid to ask for help. Seeking expert advice can actually get you to your financial goals faster than going it alone, and with less frustration.
- Was the stumble I made from a lack of motivation? Lacking motivation can actually keep us from ever starting. Often people expect motivation to magically show up after making the decision to grow in a certain area of life. But it doesn’t happen that way. What I have learned is that motivation shows up once we begin taking action. It’s the doing that actually motivates us to do more and keeps us continuing on. I once heard the hardest part of success is the actual “start.” Can you remember a time when it was difficult for you to get started even though you knew what you wanted to be different would be really good for you? But you just couldn’t seem to get enough gumption to experience any traction. And then once you took a few steps forward, you began to see progress and then, wallah! You suddenly felt more motivated. This happened to me recently when I knew I would feel really good after cleaning out an area of my basement but didn’t feel any motivation to get started. Once I started opening a few boxes that had been on some shelves for awhile and placing items in either the trash or give away piles, I started to feel even more motivated to keep going. I got the entire project done! It all started from one small step, which then spawned a little progress. Then, progress found more motivation, and the rest is history! So, you see, starting is the actual magic in making any kind of change.
Begin living your financial potential today! Have questions? Reach out anytime at hello@moneysenseforlife.com.
Cheers to your financial health and wellness!
