Updated: Jul 23
In my transformation journey I am learning that every next level in my life would require another level of thinking. If I need a change in any area of my life, it will be expedient to reevaluate my current thinking(or mindset) on that area and consider an alternative (new) thinking, behaviors or actions that is necessary to attain my new goal or desire. There is a popular saying that you cannot be doing the same thing and expect a different result! I believe this is a major source of concern for many people as many people are not inclined to change. This maybe as a result of people being uncertain of the outcomes or the fear of moving away from their comfort zones or the cost that they have to pay to make the necessary changes.
In the area of financial management, I am still learning on how many successful people achieve their successes in this area. We have heard of how many started off as being very poor with little or no resources and how they made it, through having ambitious mindsets, through tenacious and intentional actions and finally, aligning their behaviors to drive the achievement of their success goals. I will like to share on my learning as it relates to these three (Mindsets, Actions and behaviors) in managing and growing my finances.
Mindset, behavior and actions Change
Many of us grew in environments where money and resources were scarce.
This basically informed our initial perception of how to make or manage financial resources.
Our parents or guardians would have drummed it into our ears on the importance of savings, being careful in spending etc. As we grew and mingled with others, our perceptions change and also, the environment we find ourselves helped shaped the way we view money.
I have learned that if I am not satisfied with my current finances and would like to grow it more than I currently have, I would need to change my mindset towards how I manage my finances. I am learning to appreciate the importance of investments,
I am learning to change the way I view risk taking, I am learning to understand the principle of giving and receiving. I am learning the principle of savings, the importance of saving or putting aside(could be for investments etc) on every income I make.
Many of us believe or hope that we can only save when we get a certain amount of money or get to a particular stage, but I have learnt that we should form the habit of saving(or investing) no matter how much the income is. It is one of the mindsets of very successful people.
Most times we never get the perfect situation or period as we desire but if we have this mindset, it allows us to build a habit that will serve us in the long run.
On giving and receiving, many of us also find it difficult to give. We have our many reasons why we do not give, some of the given reasons are that we do not have enough, the other party do not give or reciprocate, the other person has enough and possibly do not need money or that I am a thrifty person by nature and I don’t throw away money anyhow.
The principle of giving and receiving is an old one that cuts across tribes, religions and systems. The level you give is a determinant of the level you can receive. If you always believe you don’t have enough or try and create the impression that you never have, you have already created an impression about yourself and you wonder why people don’t give you or why you never attain that financial goal you have longed for?
On new behaviors, I have learnt to do things that will align with my new mindset on savings and investing. I now have savings account where I could transfer money and it would be difficult to withdraw out of it at random, I joined a savings society, I look for investment opportunities that fit into my risk portfolio. I have even advised people that if you know that you do not have the discipline to save, you can get a trusted person to assist you on the savings. You can get a financial advisor etc.
What I am advocating for is to have a new mindset and behavior towards savings, investing, spending, giving and receiving. Be deliberate and intentional towards growing or sustaining your finances. It is not fair to you that at any point in time you depend on an expected income, when it comes, it is either not enough or you spend it all paying debts, purchasing stuff and at the end, no savings to tide you till the next income.
I know that there are times that there are no income but my focus here is on what you do when the money comes howbeit little or much. If we have the right mindset towards our finances and our future, I believe we have started in the right footsteps towards financial liberation and opportunities will arise to help push us to higher goals!
