3 Tips to Start the New Year With Your Wealth Building on Track

It’s that time of year when resolutions are made. If you are one of the many who have a resolution that involves your finances, you’ll want to read this article. Studies show that less than 50% of resolutions are kept so it’s vital to get started on the right track.

3 Tips to Start the New Year with Your Wealth Building on Track:

#1 – Keep Your Goals Realistic. Starting with an unrealistic goal is a sure way to guarantee failure. An unrealistic goal will drain you of all your motivation and will have you back to your old habits in no time. Do you know what a realistic target is for building your wealth over the next year? The next 2 years? 5 years?

One way to measure how realistic your wealth goals are is to break them into long-term goals and short-term goals. Have short-term goals that are measurable in 30 days. This will help you adjust on a timely basis if your wealth goals are too lofty. This simple technique will help you keep your wealth building on track throughout the year.

#2 – Make Wealth Building a Habit. Make building your wealth a habit. Everyday should include doing something that helps you build your wealth. This doesn’t mean setting aside hours each day, it can be something that takes you only a few minutes but moves you toward building your wealth. Breakdown your short-term goals into a daily task list and use this list to be able to do something everyday to move you toward achieving your wealth goals.

Monthly wealth coaching can help you make your wealth building a habit. With weekly email assignments and a live monthly coaching teleconference, you will make your wealth building a part of your daily routine in no time.

#3 – Hire a Wealth Coach. If you have ever played a sport, you understand the role of a coach. The coach is there to coordinate all the team members and help you become a better player. A wealth coach does the same for your wealth. A wealth coach helps you find and coordinate all the members you need on your team based on your goals. A wealth coach will help you come up with the plays you need to execute to achieve your wealth goals. Most of all, a wealth coach will help you get started! Most people are ready to build their wealth but just don’t know how to start.

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Wealth Building: Step Away from the Status Quo

One of the main things that will hold a person back from making money is their failure to change
what they are currently doing. The status quo can be deadly to wealth building efforts. Wealth
building takes courage and a new way thinking. Holding on to the “this is how we have always
done it” way of thinking can be death to any wealth building strategy. If you want to increase
income then think outside of the box. Do not do what your parents did – unless they are multi-
millionaires. Even if they are, take their wealth building strategy and build on it, improve it,
incorporate you own wealth building techniques into their plan to create a better way of making
money. The world has consistently improved over the decades because someone had a bright
idea of how to make a better mousetrap. It is the same with making money.

Millionaire parents are the minority, though, so this wealth building information is geared toward
the guy who grew up middle class or even dirt poor but is interested in making money and
improving his lifestyle. Though making money is a goal that is desired by many, quite often,
viable wealth building techniques elude them. The main reasons that people fail to take
aggressive steps towards their own wealth building are because of two things: 1. it takes work,
and 2. it takes courage. You have to be willing to work for what you want and take risks to get
there. Making money is no different.

The first wealth building strategy here is that you should be ready and willing to work. Now,
understand that under “work” falls several sub categories including increase self discipline, avoid
procrastination and be consistent. There is no easy ride when it comes to making money. Sure,
there may be the occasional windfall here or there, but creating a wealth building strategy that
you can count on and that consistently brings cash in takes hard work and focus. Self discipline
will help tremendously in keeping you focused. Keep your eye on the prize and push yourself to
work, to do what needs to be done regardless of how motivated you feel on any given day. This
is also how you avoid procrastination. If something needs to be done, just suck it up and do it. If
it is a large task that makes you feel overwhelmed, get organized. Organization is a wealth
building strategy that will prove invaluable if you use it correctly. Finally, be consistent.
Consistently keep your files organized and up to date, keep your records current, and be
consistent with your discipline and focus.

As far as courage goes when it comes to wealth building, many people tend to be like the
cowardly lion from the Wizard of Oz. They talk a good game, growl a lot, but the first time
someone says “boo” to them they run and hide. And you know what? That is perfectly natural.
It is normal to be afraid of the unknown, of venturing into areas unfamiliar. What is not normal
is when those fears control and cripple us. Wealth building takes courage because it usually
means stepping outside of your comfort zone. Many people lack the self esteem to do this. They
are afraid of failure, they simply think that they are not good enough or smart enough. They are
wrong. Most people have the wealth building abilities in them, but those abilities are untapped
or their existence is not even known. Fear of failure can stop a great wealth building strategy
dead in its tracks. Someone once said, “Can’t never could.” They were so right. If you believe
that you will fail then you are quite likely to do just that. Having a positive frame of mind,
whether you believe in your ultimate success or not, is integral to increasing income. If you
never take the plunge how will you ever know what is possible, what is out there? Believing in
yourself is the first step.

Venturing into unchartered waters can be scary, but moving away from the status quo can be the
wealth building strategy that catapults you to financial freedom. Some people grow up in
environments that are not conducive to success and wealth building. To take that situation and
turn it into something positive, to rise above the adversity to achieve wealth building success,
those are the true heroes. Adopt a “can do” attitude; be willing to jump in with both feet and at
least try new ideas and wealth building strategies. Just believe in yourself, do your homework
and get ready to work.

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