Self-discipline – Your Financial Goals!
Posted on 16/08/2017
Self-discipline - Your Financial Goals!
Author: Nicholas Kourouvanis
All goals require self-discipline.
Whether we’re trying to train harder at the gym, ace an exam, or eat a healthier diet, achieving goals will require commitment, dedication and discipline.
This means staying motivated, staying focussed and making sacrifices too. Financial goals are no different.
Here are five ways to achieve your financial goals and secure long-term success:
- Dream BIG. Start SMALL:
Savings are a necessary evil. The reality is, without positive cash flow you will not achieve your financial goals (my clients are sick of hearing this!). Without positive cash flow, you’ll be living week to week with the frustration of never feeling like you can get ahead.
- Make at least ONE SACRIFICE:
Skip one coffee a day saving four dollars for five days of the week, 45 weeks of the year. This will save you almost $1000 per year. Take a homemade lunch to work each day and you may be able to save another $2500. Whatever sacrifice you decide to make, stick to it and watch your savings grow.
- Out of SIGHT, out of MIND:
Keep your savings somewhere inaccessible, perhaps in a separate account. You may wish to set up a salary split with your employer each time you are paid. The important thing is to stay DISCIPLINED.
- Use TECHNOLOGY:
There are so many programs and apps these days to help you track your spending habits and monitor your expenses. Delete that spreadsheet and get on board with these tools.
- Have an ACCOUNTABILITY BUDDY:
Are you accountable to anyone? This might just be the secret to success. A coach that can monitor and guide you both strategically and professionally may be just what you need. With a little guidance, you can be fast-tracked to achieving your financial goals.
As a financial planner I eat, sleep, and breathe cash flow and savings. The most rewarding part of my job is working closely with clients to achieve what they once thought was impossible.
If you need any assistance or wish to take better control of your financial position, please reach out and make contact with one of our planners today.
General Advice Disclosure:
This document contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person.
You need to consider your financial situation and needs before making any decisions based on this information. If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.