Align Goals With Your Values - Deepstash

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Financial Goals: 5 Steps to Achieve Financial Freedom | Brian Tracy

Align Goals With Your Values

Hold the idea of wealth and success in your mind long enough and hard enough, until you draw into your life the resources you need to accomplish it.

Your main focus is to keep your mind fixed on improving your personal finances and achieving financial independence.

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SIMILAR ARTICLES & IDEAS:

Try making a budget
  • Create a full inventory of expenses in front of you: Categorize them into fixed and variable; urgent and non-urgent; necessities and luxury; avoidable and unavoidable.
  • You can c...
Financial planning

 ...is the process which provides you a framework for achieving your life goals in a systematic and planned way by avoiding shocks and surprises.

Maintain a personal balance sheet

It’s a statement wherein you can jot down your assets and liabilities.

  • Pull together your bank statements and other proofs of the liabilities
  • List down your assets like the bank balance, all investments, home value, and value of other assets.
  • Take a sum of all the assets to arrive at the total value of your assets.
  • List down your liabilities the (car loan, home loan, credit card balances etc.)
  • The sum of all the liabilities will show the value of the money you owe.
  • When you subtract the value of liabilities from assets, you get your Net Worth.
Stop following routines

Routines don’t work for most people. People with young kids, pets, people who travel a lot or work remotely, find it extremely difficult to follow the same routine every day. If you keep trying, yo...

Focus on the process

It is better to focus on the process rather than the outcome. When you focus on the outcome, you slow your growth.

Commit to consistent practice. Focus on the process of getting better every single day. 

Small progress

Most people lack success because they cannot follow a routine to achieve an important goal.

Instead of fighting a losing battle, learn to move around these tasks to start making progress when you can. 

The 50/15/5 rule for multiple financial goals
The 50/15/5 rule for multiple financial goals
  • 50% of your income goes toward essential expenses: rent, bills, minimum debt payments.
  • 15% percent goes to retirement savings. They also suggest you increase this by ...